"Our expectations have been more than fulfilled. The scheme was open for less than three weeks and we did not set any targets as we anticipated NRIs to set a target for themselves," he said in a statement here today.

The State Bank of India Resurgent India Bonds, which opened for subscription on August 5 and closed yesterday, have evoked an excellent response with $4.16 billion being raised through the offer.

The government came up with the proposal to offer NRIs not only a financially attractive scheme but also an opening to participate in the country's development, Sinha said.

The resources generated through RIBs would be used for upgrading critical infrastructure such as ports, power, shipping and roads in the country.

Expressing happiness over the response to RIBs, Sinha said the government was always sure that India was close to the heart of NRIs.