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Banks likely to go all out to attract diaspora investment - The Economic Times
RBI's decision to bear the hedging cost on FCNR-B deposits and exempt banks from maintaining the cash reserve ratio and statutory liquidity ratio against those deposits would save around 300 basis points of operational cost for banks, senior bankers said. "I have told our team to raise FCNR-B rates by 150 basis points to start with. We can increase rates up to 200 basis points ," Canara Bank managing director Brajesh Kumar Singh told ET.
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economictimes.indiatimes.com
Central bank turns piper to draw in foreign capital; leaves repo rate at 5.25, keeps stance neutral
The Reserve Bank of India has introduced measures to boost foreign currency inflows, including incentives for external commercial borrowings and bearing hedging costs on FCNR(B)…
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RBI may need to absorb at least half of hedging cost to spur ECBs by PSUs
The Reserve Bank of India's new measures aim to boost foreign inflows. Public Sector Undertakings can now access concessional forex swaps for overseas borrowing until September…
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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…
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India banks could raise $35-$40 billion via RBI's foreign currency deposit scheme, PNB CEO Ashok Chandra says
Indian banks anticipate raising up to $40 billion through foreign currency deposits. The Reserve Bank of India is backing a new scheme to attract dollar inflows. This initiative…
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Banks likely to go all out to attract diaspora investment - The Economic Times
RBI's decision to bear the hedging cost on FCNR-B deposits and exempt banks from maintaining the cash reserve ratio and statutory liquidity ratio against those deposits would save…
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timesofindia.indiatimes.com
RBI to fully absorb forex risks, inflows may see $50bn boost
MUMBAI: Reserve Bank of India has opened the dollar tap by taking on the currency risk itself to draw in overseas money, while nudging state-owned borrowers to look abroad for…
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From tax exemption to FCNR(B) deposits: How India is trying to attract foreign capital
India is taking steps to attract foreign investment and boost its economy. The Reserve Bank of India and the government have introduced new measures. These aim to bring in more…
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thehindubusinessline.com
‘$55-65 billion expected to flow into the country on RBI measures on FCNR (B) deposits, ECBs
About $55-65 billion is expected to flow into the country due to the RBI move to bear the full hedging cost of banks for raising fresh 3- 5-year FCNR (B) deposits and providing a…
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Bank stocks rally as RBI pushes for forex assets
MUMBAI: Bank stocks surged across the board on Tuesday following RBI’s operational guidelines for a special foreign currency non-resident (bank) or FCNR(B), swap window, with…
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Some lenders hike rates on FX deposits for non-resident Indians - The Economic Times
Indian banks have significantly increased interest rates on foreign currency deposits for Non-Resident Indians, with some hikes reaching 350 basis points. This move follows the…
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Banks pay 7% on dollar deposits as India seeks fresh foreign currency
Indian banks are significantly increasing rates on foreign-currency deposits to attract overseas residents, testing the central bank's new measures to boost capital inflows and…
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FCNR deposit in demand: $1,277 extra interest on $10,000 investment by NRIs after RBI's latest move? - The Economic Times
FCNR interest rates: The Indian government will now cover hedging costs for fresh 3 to 5-year FCNR(B) deposits until September 30, 2026. This move allows banks to offer higher…
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Latest FCNR interest rates: HDFC Bank, SBI, ICICI Bank, PNB, Central Bank of India and more - The Economic Times
Several Indian banks have updated their Foreign Currency Non-Resident Bank FCNR(B) interest rates. This comes after the government announced it would cover hedging costs for new 3…
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Banks raise NRI deposit rates to draw dollar inflows - The Economic Times
Indian banks are offering higher interest rates on foreign currency deposits. This move aims to attract money from overseas residents. The Reserve Bank of India has introduced new…
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Banks kick-off rate hikes on FCNR (B) deposits
Banks raise FCNR (B) deposit rates to 6-7%, enhancing returns for depositors amid RBI's strategies to attract dollar inflows.
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After RBI measures, banks offer up to 7% on dollar deposits
MUMBAI: Banks have begun passing on benefits from the Reserve Bank of India’s free hedging window to non-resident customers, pushing up Foreign Currency Non-Resident (Bank)…
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Banks look to foreign funding to maximize RBI’s bazooka
Lenders have sought clarity on using NRI deposits as collateral to help attract additional foreign capital under the RBI’s latest scheme.