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Overseas branches can lend to NRIs for deposits in India
MUMBAI: Reserve Bank of India has opened the floodgates for foreign capital, allowing Indian banks to route money from overseas branches to non-resident Indians for deposits back home under a revamped FCNR(B) scheme, while also removing key currency and credit risks to spur inflows.
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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…
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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,…
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timesofindia.indiatimes.com
Overseas branches can lend to NRIs for deposits in India
MUMBAI: Reserve Bank of India has opened the floodgates for foreign capital, allowing Indian banks to route money from overseas branches to non-resident Indians for deposits back…