HDFC Bank raises up to $300 million in NRE deposits - The Economic Times
8/7/2022 12:00:00 AM2 years 9 months ago
by Saikat Das
by Saikat Das
On July 6, the Reserve Bank of India (RBI) permitted banks to garner FCNR (B) and NRE deposits from the Indian diaspora without any interest rate cap. Such relaxations are available until October 31 and November 4, respectively. The central bank also relaxed …
HDFC Bank, India's most valuable lender, is said to have raised up to $300 million in NRE deposits, offering up to 50 basis points more than the prevailing rates, people familiar with the matter told… [+2410 chars]
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