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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 these mobilizations. Early estimates had not fully factored in the tax impact on non-resident Indians. The Reserve Bank of India's special incentives for this program will conclude on September thirtieth. HDFC Bank is pursuing a three-pronged approach to maximize its deposit mobilization efforts.
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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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cryptobriefing.com
Indian state-run banks estimate $30B inflow from overseas deposit scheme
Indian state-run banks project $30 billion in inflows from the RBI's special FCNR(B) deposit scheme, with nearly $10 billion already mobilized by mid-July
