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HSBC tops FCNR(B) deposits raised with $6.1 billion so far, SBI 2nd at $4.1 billion
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The Indian Express
Non-residents’ interest in FCNR(B) deposits has been sky-high thanks to some banks offering leverage as high as 19 times.
Also Read | RBI Governor says special forex drive raised $32 billion so farBehind HSBC is SBI in second place with $4.12 billion.
Story continues below this adThis is the first time bank-wise data on FCNR(B) deposits has been made available, with the RBI only giving overall numbers.
Private banks as a category have raised the most FCNR(B) deposits at $10.73 billion, followed by public sector banks at $8.84 billion and foreign banks at $8.37 billion.
In total, the data provided by Chaudhary suggests the outstanding FCNR(B) deposits had increased by $27.99 billion as on July 30.