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SBI Ranks Second in FCNR(B) Deposits Raised as RBI Data Shows $4.1B

State Bank of India logoState Bank of India
Sig2.25Sen-1.20Env0.00Soc0.00Gov+0.40

Bank-wise FCNR(B) deposit data has been shared for the first time, showing private banks leading at $10.73 billion, followed by public sector banks at $8.84 billion and foreign banks at $8.37 billion. Total outstanding rose by $27.99 billion as of July 30, prompting a clarification request to the Ministry of Finance. Risk controls for managing FX reserves are noted, but investor sentiment was hit as global energy prices rose and the rupee strengthened only marginally.

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