ECONOMY: NRIs Drive $100 Billion FCNR(B) Inflows, Lifting India’s Forex Reserves To Record $729.3 Billion

India’s forex reserves have surged to a record $729.3 billion after non-resident Indians (NRIs) poured $100 billion into the RBI’s FCNR(B) scheme, far exceeding expectations and prompting the central bank to close the window a month early.Reports indicate that this inflow has given the RBI fresh firepower to stabilise the rupee amid oil-driven volatility and geopolitical tensions.The Reserve Bank
India’s forex reserves have surged to a record $729.3 billion after non-resident Indians (NRIs) poured $100 billion into the RBI’s FCNR(B) scheme, far exceeding expectations and prompting the central bank to close the window a month early.Reports indicate that this inflow has given the RBI fresh firepower to stabilise the rupee amid oil-driven volatility and geopolitical tensions.The Reserve Bank
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