In FCNR race, banks answer only the biggest depositors
· livemint.com
Banks are selectively choosing FCNR(B) deposits from NRIs with over $1 million to benefit from rising overseas funding costs. Smaller leveraged deposits are becoming unworkable. This situation could undermine RBI's goal of attracting $30-40 billion in inflows.
Subhana Shaikh
Subhana Shaikh is a business journalist at Mint, where she covers the Reserve Bank of India, monetary policy, and India’s bond markets. She ha...