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FCNR(B) deposit drive could pressure banks' profitability
Banks' leverage on FCNR(B) deposits could pressure profit margins. Overseas interest rates are lower, and lending spreads remain thin. This impacts banks with lower funding costs, like ICICI Bank and HDFC Bank. The FCNR(B) scheme has mobilized over $32 billion by mid-July. Deployment of these funds profitably is key for banks' success.
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economictimes.indiatimes.com
Small, medium banks offer higher rates to attract NRI 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…
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Small, medium banks offer higher rates to attract NRI deposits - The Economic Times
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…
