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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) deposit rates and, in the process, reopening a tidy arbitrage between offshore borrowing costs and onshore returns.
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economictimes.indiatimes.com
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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RBI offers concessional swaps for PSUs, NRI deposits to drive forex inflows - The Economic Times
The Reserve Bank of India has introduced new foreign exchange measures. These include offering special swap facilities to encourage state-owned companies to raise funds abroad.…
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RBI opens a dollar swap window to help hedge foreign borrowings
The Reserve Bank of India is introducing a dollar-rupee swap facility for banks. This move aims to help state-run firms and lenders hedge their foreign currency borrowings. The…
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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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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.
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timesofoman.com
RBI launches twin USD-INR forex swap facilities to attract foreign currency inflows and support external financing
(RBI) announced two special US Dollar-Rupee forex swap facilities, one for fresh Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits and another for eligible External…
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RBI offers concessional swaps, allows leverage for NRI deposits to drive forex inflows
The Reserve Bank of India has introduced new foreign exchange measures. These include special swap facilities to encourage state-owned companies to raise funds abroad. Banks can…
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RBI offers discounted FX swaps at 1.5% to draw inflows
The Reserve Bank of India will offer state-run firms a concessional foreign exchange swap facility, allowing them to hedge overseas borrowings at roughly half of the prevailing…
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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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‘$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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Yes Bank hikes FX deposit rates to attract non-resident inflows
The private-sector lender will offer 7% on three-year FCNR(B) deposits, 7.05% on four-year deposits and 7.10% on five-year deposits, a spokesperson for the bank said
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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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Short-end Indian debt gains as RBI dollar measures spur buying
Short-term Indian government bond yields have dropped to their lowest in three months. This move steepens the yield curve significantly. Expectations are high that banks will…
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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)…