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RBI's FCNR push may boost banks' deposit growth: Crisil
Foreign currency deposits are poised for a boost as the RBI removes interest rate caps on certain non-resident accounts until September. This move aims to attract overseas funds, potentially increasing their contribution to bank deposits. While household savings remain key, this diversification offers supplementary support to overall deposit growth, especially as credit expansion outpaces traditional deposit mobilization. This could ease liquidity challenges for banks.
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thehindubusinessline.com
RBI permits domestic banks to extend credit against foreign currency deposits abroad
RBI allows banks to lend against foreign currency deposits to non-residents, aiming to boost dollar inflows. New rules include swaps, liens, and FCNR incentives.
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economictimes.indiatimes.com
RBI's FCNR push may boost banks' deposit growth: Crisil
Foreign currency deposits are poised for a boost as the RBI removes interest rate caps on certain non-resident accounts until September. This move aims to attract overseas funds,…
