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Needed: More stable foreign capital

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In June, the RBI announced several measures to boost capital flows into the country. There were, however, concerns over how much could be mopped up through various channels, considering the prevailing global financial conditions. Those worries have now been belied. By the end of August 31, inflows through the forex swap facility stood at a substantial $136.3 billion, with $63.5 billion coming in the last 10 days alone. Of the total flows, $127 billion has come through the FCNR(B) route, with the balance........

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