Banks receive $36.7 billion under FCNR deposits
· livemint.com
The new deposit incentive scheme allows NRIs to make leveraged deposits and runs till the end of September, with the central bank taking the hedging risk, offering overseas investors the potential to earn up to 14% return on their money.
Mumbai: Non-resident Indians (NRIs) have poured $36.7 billion into Indian banks through foreign currency non-resident (FCNR) deposits under a new deposit incent...