Private banks surpassed PSBs in FCNR(B) deposit mobilisation under RBI's forex swap scheme, with HSBC, SBI and ICICI Bank leading inflows.

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…

Banks have raised $36.7 billion through FCNR(B) deposits under the RBI's hedging facility, helping lift India's total forex inflows to $40.8 billion.

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…