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HSBC offers 19x FCNR(B) leverage in GIFT City
HSBC's GIFT City unit offers NRIs significant leverage on FCNR deposits. An NRI can borrow up to nineteen times their own funds for deposits. This special deposit program attracts overseas dollar deposits and boosts inflows. The Reserve Bank of India temporarily relaxed interest rate ceilings for this purpose. This initiative aims to attract foreign exchange until September 2026.
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economictimes.indiatimes.com
HSBC offers 19x FCNR(B) leverage in GIFT City
HSBC's GIFT City unit offers NRIs significant leverage on FCNR deposits. An NRI can borrow up to nineteen times their own funds for deposits. This special deposit program…
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thehindubusinessline.com
FCNR scheme could bring $70-80 billion from NRIs to boost India's forex reserves
India's FCNR scheme could attract $70-80 billion from NRIs, experts say, boosting forex reserves as banks offer higher interest rates until September 30, 2026.
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IDBI Bank ups FCNR ante with 16% on offer
The scheme allows customers to borrow up to 12 times their deposit amount and offers indicative effective annual returns of up to 16.2%, depending on the investment size and…
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Regional conflict-driven curbs weigh on flow: FCNR(B) inflows may miss initial estimates, says HDFC Bank CEO
Expected FCNR(B) deposit inflows are now projected at fifty to fifty-five billion dollars. Taxation complexities for nonresidents and tighter West Asian liquidity are impacting…