None
EN
RBI's inflow push gets off to strong start, fortifying India's balance of payments
['Nimesh', 'Vora', 'Khushi Malhotra', 'Min Read']
Yahoo News Singapore - Latest News & Headlines
The current programme has attracted funds at a much faster pace than a similar RBI scheme in 2013.
Economists added that the robust initial response bodes well, as such programmes typically see inflows skewed toward the later stages of the window.
BoP, RUPEE BOOSTThe strong early response to the RBI's measures is adding to confidence that India's balance of payments position will remain in surplus in the current fiscal year, despite risks from volatile crude oil prices, economists said.
"These inflows give the RBI more firepower to keep depreciation pressures on the rupee in check," she added.
The current RBI leadership believes foreign exchange reserves should be conserved, viewing reserve adequacy more conservatively than headline figures suggest, a source familiar with central bank discussions told Reuters.