SBI expects $10 billion FCNR(B) deposits to support lending, lower funding costs
· livemint.com
Speaking after the bank announced its first-quarter results, chairman Setty said SBI did not have a specific mobilization target, but the additional funds would help finance loan growth while reducing reliance on expensive bulk deposits.
Mumbai: State Bank of India (SBI) has mobilized about $6 billion in deposits under the Reserve Bank of India’s special foreign currency non-resident (FCNR-B) ...