Foreign Currency Deposits Hit Massive $65 Billion Record as NRIs Rush for High Yields
Foreign currency deposits across Indian financial institutions have surged past $65 billion in just 75 days, driven by thousands of global non-resident Indian investors moving money back home to capture elevated interest rates. Latest operational figures released by the Reserve Bank of India highlight that foreign currency non-resident, or FCNR(B), accounts reached $65.397 billion as … Read more