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Banks May Reap ₹5 Lakh Crore Notional Profit From India’s Dollar Deposit Scheme: Report

Banks May Reap ₹5 Lakh Crore Notional Profit From India’s Dollar Deposit Scheme: Report
Photo: Free Press Journal · view original

New Delhi: India’s FCNR(B) dollar deposit scheme could deliver a notional profit of ₹5 lakh crore to banks over five years, according to an SBI Research report. The scheme mobilised $127 billion in less than three months. SBI Research estimated that the Reserve Bank of India could earn another ₹5...

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