State Bank of India raises $1.5 billion in forex deposits
after close1 source ↓written by the desknot a recommendation
State Bank of India has successfully mobilized over $1.5 billion in foreign-currency deposits through a special facility initiated by the Reserve Bank of India. The program has seen robust demand, driven by attractive interest rates and the RBI's commitment to provide full hedging-cost support for eligible deposits.
This significant capital inflow may enhance SBI's liquidity position and support its lending capacity, positively impacting its market sentiment.
Not investment advice. For informational purposes only.