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Bank of India aims to raise $1.2 billion through FCNR-B deposits, plans additional $2 billion overseas borrowing
Bank of India seeks $1.2 billion from foreign currency deposits and $2 billion from overseas borrowings. The bank has already secured $200 million through the FCNR-B window. This initiative aims to reduce reliance on costly bulk deposits for the institution. First quarter net profit jumped 36% to Rs 3,068 crore, showing strong performance. Advances grew 18.6% while deposits increased 14.9% during the period.
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economictimes.indiatimes.com
FCNR(B): Data show banks have raised $20.7 bn under scheme; $10 bn more may flow in
The optimism follows RBI's disclosure that banks have collectively garnered $20.7 billion under its special incentive window, a pace that has already eased earlier concerns the…
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Bank of India aims to raise $1.2 billion through FCNR-B deposits, plans additional $2 billion overseas borrowing
Bank of India seeks $1.2 billion from foreign currency deposits and $2 billion from overseas borrowings. The bank has already secured $200 million through the FCNR-B window. …
