State Bank of India draws over $1.5 billion in forex deposits
· thehindubusinessline.com
The demand reflects the program’s attractive returns. Since the Reserve Bank of India is subsidizing the plan, lenders are offering depositors high interest rates — about 7.5% in some cases.
State Bank of India has so far raised more than $1.5 billion from foreign-currency deposits under a special facility launched last month for overseas citizens, ...