India turns to diaspora deposits in bid to strengthen rupee

The Reserve Bank of India has launched a special FCNR(B) deposit window aimed at attracting billions of dollars from Non-Resident Indians (NRIs).

Ankita Baidya•Jun 12, 2026 07:46 PM•

The RBI's new FCNR(B) deposit initiative targets Non-Resident Indians with higher returns on dollar deposits.

Credit: REUTERS/Francis Mascarenhas/File Photo

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Ankita Baidya

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Ankita Baidya is a Europe-based journalist currently pursuing the Erasmus Mundus Master’s in Journalism. Her reporting and writing explore the intersections of society, politics, education and culture, with a particular interest in identity, youth and global affairs.

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India turns to diaspora deposits in bid to strengthen rupee

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