NEWS & ADVICE : CAR LOANS
Forex window proves to be beneficial for RBI
By Joseph Samson
Oct 25, 2013
Print    Email    RSS   

$10.1 billion has been gained by the Reserve Bank of India (RBI) on Wednesday, this was under two plans which were reported a month ago to lure foreign funds— the concessional window which is unique, and meant for changing foreign currencies non-resident inhabitant (banks) deposits, or FCNR(B) stores and abroad outside coin borrowings.

Not long after in the wake of assuming control as Raghuram Rajan, RBI representative, on September 4, proclaimed the swap window office to urge banks to bait funds of NRI currency. Under the office, banks are allowed to swap new FCNR (b) dollar subsidizes, assembled for a three years tenure, at an altered rate of 3.5% annually during the deposit tenure.

Additionally, RBI loose standards for financial institutions and permitted them to increase their foreign capital to 100% of their Tier I (value) capital. The rupee had dropped to low of 68.83 to a dollar, however, on August 28 has recuperated generously. It shut at 61.59 to a dollar on Wednesday.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
New Vs. Used Car loan in India: Benefits...
Carnival of Indian Personal Finance Blogs #4
Tata Nano: How would Bank Loans look
Carnival of Indian Personal Finance Blogs # 8
Managing loans through difficult times


Lonavala Caℓℓ Girℓs 9765946980 / 9970712349...
how to got car loan statement from hdfc bank
i want to check my sbi car loan balance

NEWS THIS WEEK
SBH bank extended its Car and gold loan campaign till 31st March, 2015. Feb 11, 2015
KVGB bank signed MOU with TATA Motors Feb 10, 2015
SBH bank extended its scheme offering concession to loan defaulters Feb 2, 2015
Karnataka Bank tied up with TVS motors to Assist Auto rickshaw buyers Jan 27, 2015
RBI extended the Directions issued to Amanath Co-operative Bank for a period of six months Jan 22, 2015
News Archive