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Free flow of FCNR(B) money: RBI to bear hedging costs on NRI FX deposits, easing banks’ overseas funding
The Reserve Bank of India is now covering all hedging costs for banks raising foreign currency deposits. This move aims to make these deposits more attractive to overseas depositors. Banks expect to offer higher interest rates, potentially up to 100 basis points. This initiative seeks to increase dollar inflows through banking channels and revive interest in FCNR(B) deposits.
Raccontata da
economictimes.indiatimes.com
Timeline cronologica
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RBI to bear full hedging cost on FCNR(B) deposits - The Economic Times
The Reserve Bank of India is stepping in to boost dollar inflows. It will cover the full hedging cost for banks attracting foreign currency non-resident deposits. This incentive…
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Free flow of FCNR(B) money: RBI to bear hedging costs on NRI FX deposits, easing banks’ overseas funding
The Reserve Bank of India is now covering all hedging costs for banks raising foreign currency deposits. This move aims to make these deposits more attractive to overseas…
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Banks to be told to step up FCNR (B) deposits
Banks will now encourage more foreign currency deposits. The Reserve Bank of India will cover all hedging costs for these deposits. This move aims to attract significant foreign…