NRIs Flood Banks with Whopping $127 Billion

Oil Remains Key Wildcard for Indian Economy, USD 127 Bn FCNR Inflows Strengthen Liquidity: Kotak Securities

Get latest articles and stories on Business at LatestLY. Crude oil prices remain the biggest wildcard for India's economic outlook, even as a sharp rise in foreign currency non-resident (FCNR) deposits has provided a major liquidity boost to the banking system, Anindya Banerjee, Head of Currency and Commodity Research at Kotak Securities, told ANI in an exclusive interview on Friday. Business News | Oil Remains Key Wildcard for Indian Economy, U…

HDFC Bank shares in focus: Bank stocks surge amid FCNR(B) bonanza

HDFC Bank shares rise as banking stocks surge amid a record $127 billion in FCNR(B) deposits, boosting market sentiment.

NRIs flood banks with whopping $127 billion

Rupee did not see the desired impact from the dollar pile-up under FCNR-B scheme

NRIs have deposited $127.22 billion in bank Fixed Deposits in FCNR(B): What does it mean?

Banks have mobilised $61.8 billion through FCNR(B) deposits in just the last 10 days. The amount is nearly equal to the $65.4 billion raised during the initial 74 days of the hugely successful scheme. This scheme has helped push India’s foreign exchange reserves to new peaks.