India Lets NRIs Leverage Deposits to Draw Dollars

🇮🇳 Bloomberg (IN) —

AI Summary

India has allowed Non-Resident Indians (NRIs) to leverage their deposits to access US dollars, though the Reserve Bank of India swap covers only the principal amount, not the interest. This move affects currency and financial flows related to NRIs.

RBI swap covers only principal, not interest.

World Markets India NRIs deposits US dollars RBI currency swap

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