India’s central bank, the RBI, faces an estimated bill of about $11 billion linked to a foreign deposits plan designed to raise funds from the diaspora. Bloomberg reports that India has tapped overseas Indians through a special deposit programme that attracts record inflows, with the fundraising amount reaching about $127 billion.
Economists cited by Bloomberg say the scale of these deposits could translate into a large cost for the RBI, estimated at roughly $10.6 billion. The Economic Times also reports on the same issue, describing the potential financial impact on the central bank from the scheme.
While the outlets agree on the existence of the programme, the key point of emphasis is the implied cost. Bloomberg frames it as a possible central-bank exposure stemming from the deposits’ structure and associated obligations. The Economic Times’ coverage aligns with the reported magnitude of the potential bill but focuses on the domestic implications for the RBI. Both accounts position the plan as a major fundraising effort that carries significant financial consequences.
