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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 public sector lenders leading the rally. Bank of Baroda rose 5.7%, Canara Bank 4.3%, and Punjab National Bank 3.7%, while Bankex, BSE’s index for the sector, climbed 2.2% against a more modest 0.5% gain in the sensex.
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economictimes.indiatimes.com
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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thehindubusinessline.com
Banking stocks rise on forex swap facility for overseas borrowings
Indian bank shares surge as RBI announces forex swap facility for overseas borrowings with a minimum three-year maturity.
