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RBI clarifies FCNR(B) loan, SBLC eligibility under swap scheme - The Economic Times
Banks can now offer loans to non-residents and issue standby letters of credit against FCNR(B) deposits under the RBI's swap facility. This regulatory clarity from the central bank allows Indian banks, including overseas branches, to lend to non-residents who then place these funds as FCNR(B) deposits, serving as collateral. This move aims to boost foreign currency inflows, with the swap facility covering only the principal amount of deposits.
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economictimes.indiatimes.com
Banks seek RBI clarity on leveraged NRI FCNR deposit structures
Indian banks are seeking clarity from the RBI on allowing overseas branches to lend to non-residents for FCNR(B) deposits. Some lenders, like SBI, have already launched structured…
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thehindubusinessline.com
Bankers’ expect RBI to issue detailed FAQs on limited period high interest rate FCNR (B) deposits
Bankers anticipate RBI will release FAQs to clarify regulations and address concerns about high interest FCNR (B) deposits.
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RBI clarifies FCNR(B) loan, SBLC eligibility under swap scheme - The Economic Times
Banks can now offer loans to non-residents and issue standby letters of credit against FCNR(B) deposits under the RBI's swap facility. This regulatory clarity from the central…