ETMarkets NRI Talk | RBI's FCNRB reforms could bring in over $20 billion of foreign inflows: Keyur Majmudar
The Reserve Bank of India's recent reforms to Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits and External Commercial Borrowings (ECBs) could attract over $20 billion in foreign capital, according to Keyur Majmudar, Managing Partner & CIO of Bay Capital Investment Advisors. These regulatory changes are expected to enhance overseas deposit mobilization by banks and encourage corporates to utilize the revised borrowing framework. The sentiment towards India has improved since March, driven by easing geopolitical tensions, despite mixed performance in domestic markets.