FCNR[B] scheme provided such a bonanza to NRIs that it could even be called the FCNR[B] scam, not a scheme. [2] While NRIs certainly benefit from this scheme, the people of India are set to lose because of the heavy costs of the unnecessary forex borrowing which–in any case–is unlikely to be associated with any productive investment–Article by CP Chandrashekhar and Jayati Ghosh– Courtesy BusinessLine