Foreign, private banks raise over 68% FCNR(B) funds
Foreign currency deposits saw a significant increase between June and July. Banks aggressively mobilized these funds, taking advantage of RBI incentives. HSBC, SBI, and ICICI
Foreign currency deposits saw a significant increase between June and July. Banks aggressively mobilized these funds, taking advantage of RBI incentives. HSBC, SBI, and ICICI Bank led the collection efforts for these deposits. Foreign banks showed the fastest proportional growth in their deposit holdings. Overall, the mobilization was concentrated among the top ten banking institutions.
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