Tag: foreign currency non-resident deposits
RBI faces about $11 billion bill on foreign deposits plan
India tapped its vast diaspora for a record $127 billion through a special deposit program, a fundraising bonanza that economists say could come with a…
RBI reports $136.38 billion forex inflows under special swap facility as of August 31
Foreign exchange inflows under the Reserve Bank of India’s special USD-INR swap facility reached USD 136.38 billion as of August 31, with Foreign Currency Non-Resident…
Bank deposits hit decade-high growth as NRI dollar inflows cross $37 billion
Kolkata: Bank deposits rose 15.4% year-on-year at the end of July, marking the fastest pace in nearly 10 years, as overseas Indians parked about $37…
RBI likely used dollar deposit surge to cut record FX forward book, economists say
MUMBAI: The Reserve Bank of India has likely used part of the initial inflows from its foreign-currency deposit drive to unwind a portion of its…
Deposits under RBI’s latest foreign currency non-resident bank scheme will carry one-year lock-in
Deposits raised under the Reserve Bank of India’s latest foreign currency non-resident bank (FCNR-B) scheme will carry a one-year lock-in, and swaps undertaken by banks…