Business · World

India Allows NRIs to Use Deposits for Dollar Withdrawals

1 sourceFirst reported 28 days agoUpdated 28 days ago

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India has announced that Non-Resident Indians (NRIs) can leverage their deposits.
The Reserve Bank of India (RBI) will provide swap covers only for the principal amounts.
Interest on these deposits will not be covered by the swap facility.
This move aims to facilitate easier access to dollars for NRIs.

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AI summary: catch up in 20 seconds

India has announced that Non-Resident Indians (NRIs) can leverage their deposits.
The Reserve Bank of India (RBI) will provide swap covers only for the principal amounts.
Interest on these deposits will not be covered by the swap facility.
This move aims to facilitate easier access to dollars for NRIs.

Generated by AI from the 1 sources below · always verify with the originals