Fcnr B Deposits
Latest news, explainers and analysis on Fcnr B Deposits. Tracking 3 stories on Arth Vani.
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Latest on Fcnr B Deposits
BreakingIndia's Forex Reserves Hit Record $729 Billion, Bolstering Economic Stability
India's foreign exchange reserves have surged to an unprecedented $729 billion, reaching an all-time high. This significant increase of $12.4 billion in a single week was driven by a rise in foreign currency assets and gold reserves, enhancing India's economic resilience. Special forex swap facilities and FCNR-B deposits also contributed to these robust inflows.
India Attracts $72.8 Billion in Dollar Inflows via RBI Swap Facility
India has received a significant $72.8 billion in dollar inflows through various channels, including FCNR(B) deposits and external commercial borrowings. This influx is attributed to the Reserve Bank of India's special swap facility, aimed at bolstering foreign currency reserves.
Kotak Mahindra Bank Secures ₹5,000 Crore ($600M) Overseas Loan from HSBC, CTBC Bank
Kotak Mahindra Bank is set to raise $600 million (approximately ₹5,000 crore) through an overseas loan from HSBC and CTBC Bank. This strategic move aims to attract foreign currency into India, likely to support Foreign Currency Non-Resident (Bank) deposits, leveraging a special swap facility provided by the Reserve Bank of India.
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