HSBC has mobilised about $5.5 billion in non-resident Indian deposits by offering highly leveraged loans under the RBI's FCNR(B) window, outpacing global rivals. The strategy has helped attract diaspora wealth, contributing to the roughly $32 billion raised by Indian banks through foreign currency deposits.

Small and mid-sized Indian banks are ramping up FCNR(B) deposit rates to attract non-resident Indians after interest rate deregulation, offering returns above 7.4–7.5% without…

Small and mid-sized Indian banks are ramping up FCNR(B) deposit rates to attract non-resident Indians after interest rate deregulation, offering returns above 7.4–7.5% without…