State Bank of India raises $1.5 billion in forex deposits
pre-market1 source ↓written by the desknot a recommendation
State Bank of India has successfully mobilized over $1.5 billion in foreign-currency deposits under the Reserve Bank of India's special facility for overseas depositors. This program has gained traction due to attractive interest rates and full hedging-cost support provided by the RBI, indicating strong demand from international investors.
The influx of deposits may enhance SBI's liquidity position and support its lending capabilities, potentially impacting the banking sector positively.
Not investment advice. For informational purposes only.