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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 billion from FCNR(B) deposits and $1.5 billion via concessional swap facilities, is expected to reduce borrowing costs by 50-60 basis points.
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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,…
