FCNR(B) scheme has bought India 3-5 years, but $170 billion repayment cliff looms: Uday Kotak

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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…