India's Banks Reap $28 Billion From FCNR(B) Scheme Success

The Reserve Bank of India launched its FCNR(B) scheme, and by July 31, banks raked in a whopping $28 billion in foreign deposits! Private banks led the way with $10.73 billion, and HSBC topped the charts with $6.14 billion. This initiative aims to boost India's forex reserves and keep the rupee strong. It's a win-win for everyone involved!