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 1896 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. --------------------------------------------------------------------------------------------- @ASUSIndia.official #ASUSExpertbook Checkout the ASUS Expertbook series: https://www.flipkart.com/asus-expertbook-core-ultra-store --------------------------------------------------------------------------------------------- Read Bidisha Bhattacharya’s articles here:  https://theprint.in/opinion/economix/success-rbis-nri-deposit-scheme-posing-liquidity-problem/3036404/ https://theprint.in/opinion/rbis-nine-day-u-turn-is-a-masterclass-in-how-not-to-talk-to-markets/3023452/ --------------------------------------------------------------------------------------------- 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 --------------------------------------------------------------------------------------------- Exclusive content, special privileges & more – Subscribe to ThePrint for Special benefits: https://tinyurl.com/4ymm9wh5 --------------------------------------------------------------------------------------------- Connect with ThePrint » Subscribe to ThePrint: https://tinyurl.com/4ymm9wh5 » Subscribe to our YouTube Channel: https://bit.ly/3nCMpht » Like us on Facebook: https://www.facebook.com/theprintindia » Tweet us on Twitter: https://twitter.com/theprintindia » Follow us on Instagram: https://www.instagram.com/theprintindia » Find us on LinkedIn : https://www.linkedin.com/company/theprint » Subscribe to ThePrint on Telegram: https://t.me/ThePrintIndia » Find us on Spotify: https://spoti.fi/2NMVlnB » Find us on Apple Podcasts: https://apple.co/3pEOta8