SynopsisHSBC, SBI and ICICI Bank emerged as the top beneficiaries of the RBI’s dollar deposit scheme for NRIs, raising $6.14 billion, $4.12 billion and $3.7 billion, respectively.
Launched to support the rupee and boost foreign currency inflows, the scheme helped banks attract $36.7 billion.
FCNR(B) deposits surged to $60.55 billion from $32.56 billion.
Synopsis
HSBC, SBI and ICICI Bank emerged as the top beneficiaries of the RBI’s dollar deposit scheme for NRIs, raising $6.14 billion, $4.12 billion and $3.7 billion, respectively. Launched to support the rupee and boost foreign currency inflows, the scheme helped banks attract $36.7 billion. FCNR(B) deposits surged to $60.55 billion from $32.56 billion.
