Rajan reforms to fuel $10-bn FCNR inflows

A day after Raghuram Rajan, the new Reserve Bank of India (RBI) governor, offered incentives for banks to raise dollar funds and in turn help bridge the current account gap, bankers feel that up to $10 billion could be raised through foreign currency non-resident (FCNR) deposits while banks have headroom to raise an additional $30 billion as part of their Tier-1 capital ratios.

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