India’s recent Foreign Currency Non-Resident (Bank), or FCNR (B), mobilisation was a “fortuitous case of timing”, as banks would not have been able to mobilise deposits on the same terms had the exercise taken place amid the latest spike in global yields, Chief Economic Advisor V Anantha Nageswaran said on Friday. Speaking at the PAFI Annual Forum here, he said rising bond yields in developed economies reduce the incentive for investors to take emerging-market risks, potentially putting pressure on countries dependent on global capital flows, he said.