Banks are poised to save approximately ₹4,000 crore annually by raising deposits through FCNR(B) accounts, as the RBI covers hedging costs, making them cheaper than domestic fixed deposits. Industry experts anticipate $35-45 billion in FCNR(B) inflows, offering significant liquidity relief to banks facing deposit growth challenges.
Banks are poised to save approximately ₹4,000 crore annually by raising deposits through FCNR(B) accounts, as the RBI covers hedging costs, making them cheaper than domestic fixed deposits. Industry experts anticipate $35-45 billion in FCNR(B) inflows, offering significant liquidity relief to banks facing deposit growth challenges.
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