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India offers up to 9% leverage to NRIs to attract fresh forex inflows; guarantees returns of over 7%
India is turning to its overseas community to boost its foreign currency inflows, with banks expected to offer substantial leverage on special foreign-currency deposits. This comes after the Reserve Bank of India (RBI) cleared lenders to extend loans against such deposits.
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timesofindia.indiatimes.com
Depositors await clarity on leverage
MUMBAI: Reserve Bank of India’s sweeping overhaul of FCNR(B) deposit rules has triggered intense interest among non-resident investors, but a lack of clarity on leveraged…
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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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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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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…
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India offers up to 9% leverage to NRIs to attract fresh forex inflows; guarantees returns of over 7%
India is turning to its overseas community to boost its foreign currency inflows, with banks expected to offer substantial leverage on special foreign-currency deposits. This…
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Bank of India eyes $3.5 billion foreign currency inflows on RBI's dollar push
Bank of India aims to raise approximately $3.5 billion through foreign currency deposits and overseas borrowings, leveraging recent RBI measures. This strategic move, including $1…