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RBI faces about $11 billion bill on foreign deposits plan
India's central bank secured record diaspora funds, exceeding projections significantly. This fundraising effort may incur substantial costs for the Reserve Bank of India. The RBI agreed to shield banks from currency risks on these foreign deposits. These operations could cost up to 1.2 trillion rupees over five years. The central bank aims to manage these fiscal implications through careful investment strategies.
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thehindubusinessline.com
India’s diaspora deposit flows surpass $100 billion: Reports
India's diaspora deposits exceed $100 billion, boosting RBI reserves to a record $729.3 billion and strengthening currency support.
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economictimes.indiatimes.com
Indian banks raise over $136 bn via RBI forex swap, FCNR(B) deposits dominate inflows
India's banking system attracted over $136 billion through a special Reserve Bank of India swap facility. Foreign currency non-resident deposits accounted for the largest portion…
