Indian banks have lowered interest rates on foreign-currency deposits significantly. This action follows the closure of the Reserve Bank of India's special swap window. Banks offered unusually high rates to attract overseas funds during the ten-week period. This special facility enabled lenders to provide substantially higher returns to depositors. The strong inflows prompted the RBI to advance the closure of this window.

Indian banks are actively reducing costly bulk deposits after strong foreign currency inflows. This strategy helps optimize funding costs and potentially boost profitability for…

Indian banks are actively reducing costly bulk deposits after strong foreign currency inflows. This strategy helps optimize funding costs and potentially boost profitability for…