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The Economic Times
The Economic Times
Business

Foreign banks account for lion's share of FCNR(B) inflows under RBI's concessional swap facility

Mumbai: Foreign banks have helped facilitate a lion's share of the over USD 17 billion in Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits mobilised under the Reserve Bank of India's concessional swap facility, bankers said on Tuesday.

Some large state-owned and private sector banks also hold a significant share of inflows received so far, at least three bankers told PTI.

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