Page 2 - Fcnr

Foreign fund flows remain weak for banks despite RBI's liberal steps

The measures have brought in $1.5-2 billion so far; response to relaxed FX norms tepid as US rates higher, RBI not acting as counterparty

YES Bank hikes interest rate on NRE, FCNR fixed deposits as norms are eased

RBI has taken several steps such as exempting banks from maintaining CRR and SLR on incremental NRE and FCNR (B) deposits, in order to attract dollars and protect the rupee

Flow of money into NRI deposits moderates to $3.23 bn in FY22: RBI data

Outstanding deposits have also gone down to $139.02 billion at the end of March 2022. This compares to $141.89 billion a year ago, according to Reserve Bank of India (RBI) data.

FCNR redemption pressures will be transient: BNP Paribas

It said that the RBI will dip into foreign exchange reserves to smoothen the volatility

India's external debt increases on FCNR(B) deposits

Banks had raised about $34 billion through the FCNR (B) from deposits from NRIs in September 2013, most of which are falling due this year

Adequate reserve to deal with FCNR redemption

After touching a record high last week, the country's foreign exchange reserves declined by $231 mn to $363.23 bn in the week ended June 10

Forget currency, FCNR redemption will test the equity markets the most

Past trends show that a weak rupee leads to outsize drops in the equity markets

Experts say FCNR(B) redemption to be smooth

RBI's proactive measures get credit for removing much of the worry