Mumbai: With measures in place to boost foreign currency deposits, inflow of overseas funds could provide incremental support to banks' deposit mobilisation in the current fiscal year, a report said on Tuesday.
The RBI's decision to withdraw the interest rate ceiling on fresh foreign currency non-resident (FCNR-B) deposits of three-five year tenors till September 30 provides banks greater flexibility to offer competitive rates, thereby supporting foreign currency deposit inflows, Crisil Intelligence said in its report on the Indian banking sector.
