Foreign Currency
Latest news, explainers and analysis on Foreign Currency. Tracking 2 stories on Arth Vani.
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Latest on Foreign Currency
Kotak Mahindra Bank Secures ₹5,000 Crore ($600M) Overseas Loan from HSBC, CTBC Bank
Kotak Mahindra Bank is set to raise $600 million (approximately ₹5,000 crore) through an overseas loan from HSBC and CTBC Bank. This strategic move aims to attract foreign currency into India, likely to support Foreign Currency Non-Resident (Bank) deposits, leveraging a special swap facility provided by the Reserve Bank of India.
BreakingIndian Banks Attract $20.7 Billion Via RBI's Special Foreign Currency Scheme
Indian banks have successfully attracted $20.7 billion in foreign currency through a special incentive window offered by the Reserve Bank of India (RBI). A significant portion, $17.4 billion, came from FCNR(B) deposits within just six weeks, easing earlier concerns about the scheme's effectiveness and boosting India's foreign exchange reserves.
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