The RBI's FCNR(B) scheme successfully attracted over $127 billion, surpassing expectations for dollar inflows and temporarily boosting forex reserves. However, the author critically asserts this success stems from RBI's "errors of judgment." The short-term fix created significant problems: a massive surge in systemic liquidity, increased inflationary pressures, and higher non-performing asset risks. The future dollar repayment burden persists. The scheme merely "postponed the day of reckoning" rather than addressing core economic issues, underscoring a critical view of RBI's short-sighted strategy.