FCNR(B) turns litmus test | Explainer
Reserve Bank of India (RBI). File | Photo Credit: Reuters Foreign currency non-resident (Bank) or FCNR(B) deposits, which were introduced in 1993, will prove to be a litmus test for the country’s ability to mobilise long-term foreign currency resources from its vast global diaspora. At a time of geopolitical fragmentation, volatile capital flows and uncertain…