BUSINESSEconomic Times Industry · 3 hours agoLive
FCNR(B) scheme has bought India 3-5 years, but $170 billion repayment cliff looms: Uday Kotak
Reported by Economic Times Industry, not nibnow. We are not the publisher of this story, only the source is.
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WHAT HAPPENED
Uday Kotak has described India’s $130-billion-plus FCNR(B) mobilisation as a “strong insurance policy” against global shocks, but warned that repayments including interest could reach $160-170 billion over the next three to five years. He said the buffer gives India time to strengthen its economy, but should not substitute for structural reforms, investment in technology and efforts to improve domestic competitiveness.
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