RBI's FCNR-B Measures Could Drive $50–70bn Inflows, Say Jefferies and Citi 8 mins ago
The RBI revised FY27 real GDP growth to 6.60% (from 6.90%) and raised inflation to 5.10%, with a crude oil assumption of $95 per barrel. Forex reserves stood at $682.3 billion as of May 29, and new measures include 40-year G-Secs, FCNR-B CRR/SLR exemptions, and a USD swap facility at 1.5% annually. Jefferies projects $50–70bn inflows from FCNR-B measures, while Citi sees India's FY27 BoP swinging from a $5bn deficit to a $5bn surplus, with HDFC Bank and select government NBFCs as key beneficiaries.