Economic TimesLean R·
UCO Bank plans $500-million overseas fundraise
UCO Bank plans to raise $500 million through foreign currency deposits and overseas borrowings. This move joins other lenders accessing the central bank's concessional funding window. The facility has already attracted over $32 billion in foreign currency inflows. Non-resident deposits have been the primary driver of this significant mobilization. This initiative aims to strengthen India's foreign exchange reserves effectively.
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