NEWS & ADVICE : PERSONAL LOAN
Low-Cost Swap Line For Attracting Non Resident Indian Deposits – RBI
By Vaibhav Aggarwal
Sep 5, 2013
Print    Email    RSS   

The Reserve Bank of India is going to offer the money lenders the low-cost swap lines at below-market prices. This would help the banks to raise funds from the Non Resident Indians. Though the NRE deposits have an attractive rate of interest, banks are unable to focus on this program, because of the hedging cost. On Monday, a special meeting was held, in which the RBI Deputy Governor Mr. HR Khan and other executives from Indian and Foreign banks participated. The central bank is considering to buy back the dollars, at a discounted rate, for three to five years. In the market, the value of INR continuously slides and it is very profitable for the NRI investors and at the same time, the banks are unable to face the additional financial burden.

Right now, the RBI seriously considers to introduce the new low-cost swap lines for the banks, which would be below the market price of the INR. The RBI has a very clear idea in bringing the dollars into India, by way of the NRI deposits.


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

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Glittering Ways of Investing in Gold
12 point conduct checklist for bank and...
Man caught for committing bank fraud
Know about Personal loan against fixed...
Credit profile and its effect on loan...


How to get eligible for loans and credit cards in...
return off
return off
i need my personal loan track statement
personal loan status of agreement number...
SIR/MADAM MY SELF PRIYA SHARMA PAN CARD FFTPS3791P...

NEWS THIS WEEK
LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive