India considering special deposit scheme to boost dollar inflows

Thursday, 4 October 2018 01:03 - - {{hitsCtrl.values.hits}}

NEW DELHI (Reuters): India is considering a special deposit scheme for non-resident Indians to boost dollar inflows, news agency NewsRise reported on Wednesday, citing an unnamed Finance Ministry official.

Economic Affairs Secretary Subhash Chandra Garg had said in June that if needed, the Government could raise funds through Foreign Currency Non-Repatriable (FCNR) deposits, sovereign bonds or other routes to increase forex reserves. The partially convertible Indian rupee hit 73.4050 per dollar in early trade on Wednesday, an all-time low, and sharply lower than its previous close of 72.91. Indian markets were closed on Tuesday for a holiday.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.