India may see up to $85 billion in forex inflows after RBI's FCNR move: Report

India anticipates substantial Foreign Currency Non-Resident deposits, possibly reaching eighty to eighty-five billion dollars. Public sector banks are leading this significant mobilization effort, exceeding previous records. FCNR(B) deposits have already reached seventeen point forty-one billion dollars by mid-July. Higher interest rates are expected to encourage renewals of maturing FCNR deposits. This influx will bolster foreign currency assets, reflecting positive economic trends.