ICICI Bank leads private-sector peers with about $3.7 billion in deposits under the scheme. HDFC Bank and Axis Bank, the country’s largest and third-largest private lenders respectively, raise about $1.5 billion each

Significant capital inflows have been recorded, thanks to the proactive measures taken by India's central bank. The Reserve Bank of India facilitated a total of $40.81 billion in…

FCNR(B) deposits accounted for $36.72 billion of the inflows, exceeding the $26 billion mobilised under a similar scheme in 2013, in less than two months after the current window…

Banks are raising FCNR(B) deposit rates to attract dollars amid global rate increases. ICICI Bank and HDFC Bank have already adjusted their offerings for dollar deposits. Higher…

Some are also hoping to eventually sell insurance and investment advice