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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
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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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…
