Monday, December 9, 2013

Indian banks make most of RBI’s FCNR deposit scheme

.......The scheme was announced by the RBI in September to attract foreign fund flow in a bid to stabilise the rupee which had slipped below 68 against the dollar. The scheme closed on November 30. Bankers say that around one third of the total $34 billion came as deposits while the remaining came as overseas borrowings by the banks...........

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