Foreign banks are scrambling to raise dollar deposits from non-resident Indians -- even tempting them with loans -- to open their foreign currency non-resident (bank), or FCNR (B), deposit accounts in India. The move comes after the Reserve Bank of India (RBI) opened a special window for swapping FCNR (B) dollar funds of three years or more at a concessional rate, and offered various other incentives, including cheap dollar/rupee swap rates, as part of its efforts to stem the rupee depreciation...........
The very purpose of VITALINFO is to provide a platform for wider dissemination of updated information related to and happening of events in and around RBI.
No comments:
Post a Comment