Small private banks seek GIFT City tie-ups to offer NRIs leverage for higher FCNR (B) deposits amid RBI's concessional swap window.

HSBC Bank's IFSC unit offers Non-Resident Indians significant leverage on FCNR(B) deposits. This strategy allows investors to borrow up to nineteen times their initial deposit…

RBI reports strong $17.406 billion inflow in FCNR (B) deposits, highlighting robust NRI interest under the swap facility.