CutTheClutter: Intricacies, risks, arithmetic of RBI’s NRI deposit scheme, & India’s chronic foreign exchange crisis

The RBI’s forex swap facility drew over $136 billion. This included 127.23 billion through FCNR(B) deposits, $3.8 billion through ECBs and $5.2 billion through OFCBs. The central bank ended Foreign Currency Non-Resident (FCNR-B) deposit scheme a month early. #CutTheClutter Episode Xxxx explains the intricacies, risks and arithmetic of RBI’s NRI deposit scheme. ThePrint Editor-In-Chief Shekhar Gupta also explains India’s chronic foreign exchange crisis and what it has led to, in the past.----more----Read Bidisha Bhattacharya’s articles here: https://theprint.in/opinion/economix/success-rbis-nri-deposit-scheme-posing-liquidity-problem/3036404/----more----https://theprint.in/opinion/rbis-nine-day-u-turn-is-a-masterclass-in-how-not-to-talk-to-markets/3023452/----more----Read Ajit Ranade’s article here: https://www.livemint.com/opinion/online-views/ajit-ranade-rbi-owes-the-public-an-explanation-exorbitant-dollar-deposit-scheme-fcnr-b-11788698192875.html