Economic TimesLean R·
FCNR-B flows taper as higher costs trip math for double-digit returns
Mumbai: The pace of garnering special foreign currency (FCNR-B) deposits by Indian banks appears to have slowed after an enthusiastic start, bankers said, as high-networth overseas Indians seek double-digit dollar returns and assess some tax implications on the instruments. Overseas borrowing costs, meanwhile, have caused a rethink for banks on the amount of leverage they can offer clients."The issue is the pricing of dollar funds, which is key to ensuring that high net worth individuals (HNIs)…
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