RBI's New FCNR(B) Move Explained | Impact On Rupee, Forex Reserves & India's Economy

The Reserve Bank of India has unveiled its FCNR(B) deposit swap scheme in a fresh bid to attract foreign currency inflows, with banks already raising interest rates to make these deposits more attractive for Non-Resident Indians. Could this move strengthen the rupee, boost India's forex reserves and support broader economic stability? In this special discussion, we decode how FCNR(B) deposits work, revisit the success of the 2013 scheme, and examine what the latest initiative could mean for India's macroeconomic outlook. We also analyse the latest trends in the rupee, GDP growth prospects and the potential impact of global peace developments on the Indian economy. Senior journalist and former Financial Express Editor Mythili Bhusnurmath and Deloitte economist Rumki Majumdar share their insights on whether this could be a turning point for India's economic trajectory.