August 5, 2026 2:48 PM
No proposal to prematurely end FCNR(B) incentive scheme: RBI Governor
Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday said there is no proposal to prematurely discontinue the Foreign Currency Non-Resident (Bank) or FCNR(B) deposit incentive scheme, which has helped attract strong capital inflows and bolster the country's external position. Speaking at a press conference after the announcement of the RBI's monetary policy review, Malhotra said the concessional zero-cost swap facility offered under the scheme remains fully operational and will con...