RBI allows banks to lend against foreign currency deposits to non-residents, aiming to boost dollar inflows. New rules include swaps, liens, and FCNR incentives.
The RBI has also introduced incentives such as subsidised hedging costs for FCNR deposits. Analysts estimate the scheme could attract up to $55 billion in foreign currency inflows over the coming months.
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India's central bank has allowed
domestic lenders to extend loans to non-residents against
foreign currency deposits, including via their offshore
Overseas branches can lend to NRIs for deposits in India
Banks seek RBI nod to let NRIs break & rebook existing deposits - The Economic Times
Banks seek RBI nod to let NRIs break & rebook existing deposits
Banks can offer loans for FCNR (B), rebook deposits, RBI clarifies
RBI clarifies FCNR(B) loan, SBLC eligibility under swap scheme - The Economic Times
India offers up to 9% leverage to NRIs to attract fresh forex inflows; guarantees returns of over 7%
Banks seek RBI clarity on leveraged NRI FCNR deposit structures
Bank of India eyes $3.5 billion foreign currency inflows on RBI's dollar push
RBI's FCNR push may boost banks' deposit growth: Crisil
RBI sweetens FCNR deposits: NRIs can now earn up to 7% on dollar savings - The Economic Times
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