RBI may face about $11B cost on foreign deposits plan
India launched a special deposit program raising a record $127 billion from its diaspora. Economists estimate it could leave the Reserve Bank with a hefty $10.6 billion bill tied to a plan to shield foreign deposits.
New Delhi, Sept.
3 -- India tapped its vast diaspora for a record $127 billion through a special deposit program, a fundraising bonanza that economists say could come with a hefty $10.6 billion bill for the country's central bank.The potential cost stems from the Reserve Bank's decision to shield b…