The practice of leveraging FCNR deposits has become a topic of discussion following the RBI's launch of a special swap facility aimed at increasing foreign currency reserves. This approach allows NRIs to take out loans against their FCNR holdings in hopes of securing better yields. Nevertheless, investors should be aware that increasing interest rates, tax liabilities, shifts in regulations, early exit fees, and updates to residency status could diminish or completely eliminate any expected profits.

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