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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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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'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,…