RBI measures likely to attract $65 billion inflows in FY27: SBI

The RBI's recent measures are likely to help India attract $55-65 billion in inflows in the current fiscal year, stabilise the rupee, and push the country's balance of payments into surplus, according to a State Bank of India (SBI) research report.

The RBI’s February and June 2026 measures should be viewed as a coordinated attempt to stabilise the rupee, deepen the domestic debt market, attract more stable foreign capital, and reduce friction for external funding, the Ecowrap report from the SBI’s Economic Research Department said.

Following the June monetary policy, the central bank took a host of measures to attract foreign capital and strengthen the country's balance of payments (BoP). The measures include a facility of concessional forex swap to incentivise external commercial borrowings (ECBs) by PSUs. The RBI has also provided a similar facility for banks to raise fresh three to five-year Foreign Currency Non-Resident (Bank) (FCNR(B)) deposits.  

The February measures on ECBs were structural and market development oriented, while the June measures aimed to attract foreign currency inflows and support the rupee without raising domestic interest rates, the SBI report said.