RBI will bear hedging costs on new FCNR-B deposits till September 2026 to draw foreign currency, reviving a 2013 style playbook even as NRO deposits emerge as the fastest growing NRI segment
The Reserve Bank of India’s latest move to incentivise Foreign Currency Non-Resident Bank, or FCNR-B, deposits has revived memories of 2013, when a special FCNR swap window helped attract billions of dollars into India during a period of currency stress.
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