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    "headline": "India Mobilizes Record $127 Billion via Forex Deposits",
    "dek": "The Reserve Bank of India closed a record-breaking foreign-currency deposit scheme after mobilizing $127.23 billion.",
    "prose": "Foreign Currency Non-Resident (Bank), or FCNR(B), deposits accounted for $127.226 billion in inflows as of August 31, according to the RBI. [^1]\n\nThe Reserve Bank of India (RBI) said on Wednesday that India mobilized a record $127.23 billion through foreign-currency deposits under a special central bank programme aimed at strengthening the country's foreign-exchange liquidity. [^2]\n\nForeign citizenship does not automatically remove an individual's inheritance rights to agricultural land in India. [^3]\n\nIncluding overseas foreign-currency borrowings (OFCB) and external commercial borrowings (ECB), total inflows under the measures stood at $136.377 billion. [^4]\n\nThe Reserve Bank of India closed the FCNR(B) window on August 31, a month ahead of the originally scheduled September 30 deadline, after stating its objective had been achieved. [^5]\n\nAn NRI cannot sell agricultural land to another NRI, an Overseas Citizen of India (OCI), or a foreign national. [^6]\n\nAn NRI is defined by the RBI as a person resident outside India who is a citizen of India, whereas a foreign citizen cannot be classified as an NRI under FEMA. [^7]\n\nAn NRI or OCI can transfer agricultural land only to an eligible Indian resident, with transfers to other NRIs or OCIs not permitted under general rules. [^8]",
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