RBI's FCNR(B) ECB and OFCB schemes could bring $100 billion
The Reserve Bank of India (RBI) rolled out some special foreign exchange inflow schemes earlier this year, aiming to boost the rupee and keep imported inflation in check.
Turns out, these moves might bring in about $100 billion.
The schemes include FCNR(B) deposits, External Commercial Borrowing (ECB), and OFCB.
India's BoP could hit $35-$40 billion
By July 2026, these schemes had already attracted $40.81 billion, with most of it ($36.72 billion) coming from FCNR(B) deposits alone.
Economists think FCNR(B) could end up contributing $50 billion to $60 billion overall, while ECB and OFCB might add another $10 billion or more.
With collection windows open through late 2026, forecasts now suggest India could see a balance of payments surplus of $35 billion to $40 billion by fiscal year 2027 thanks to these strong inflows.