FCNR(B) rates rise as banks compete for NRI dollars; more lenders may join before RBI window closes
FCNR(B) rates
Covered by 3 sources
- Bloomberg Economics·1h agoIndia RBI Seen Holding Rates as Inflation Risks Stay in Focus
The Reserve Bank of India is expected to keep interest rates unchanged on Wednesday as policymakers assess whether higher energy costs from the renewed Middle East conflict spill over into broader inflation before raising borrowing costs.
Read at Bloomberg Economics → - Times of India Top·3h agoForeign, private banks raise over 68% FCNR(B) funds
Foreign currency deposits saw a significant increase between June and July. Banks aggressively mobilized these funds, taking advantage of RBI incentives. HSBC, SBI, and ICICI Bank led the collection efforts for these deposits. Foreign banks showed the fastest proportional growth…
Read at Times of India Top → - Business Today IN·22h agoFCNR(B) rates rise as banks compete for NRI dollars; more lenders may join before RBI window closes
Indian banks are raising FCNR(B) deposit rates as they compete for NRI dollar deposits ahead of the RBI's special scheme ending on September 30. Higher global interest rates and rising overseas funding costs are prompting lenders to offer more attractive returns to mobilise…
Read at Business Today IN →
