Business News

Bank of India mobilises $2.33 billion via FCNR(B), enough to meet one-quarter lending needs: CEO

FinSiddhi

Bank of India secured USD 2.33 billion through FCNR(B) deposits, replacing bulk funding sources. This mobilization will meet approximately three months of the bank’s lending requirements. The Reserve Bank of India announced this special deposit scheme to strengthen liquidity positions. Banks are diversifying their deposit bases amid increasing credit demand from customers. The bank will maintain its 15-17 percent credit growth target for the year.
Read more at the source

Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and credits belong to the original authors and publishers.

Related Posts

Maruti Suzuki Q1 profit drops 11% YoY to Rs 3,352 crore on higher input costs

Maruti Suzuki reported an 11% year-on-year decline in Q1 consolidated net profit to Rs 3,352 crore, missing estimates as higher input costs linked to the West Asia crisis squeezed margins. Revenue and sales volumes grew strongly, while the company approved Rs 561 crore for four compressed biogas projects.

Samsung hikes chipmaking prices by up to 15% on demand spike

Demand from Chinese customers has been particularly strong, but Samsung has ​been unable to meet all orders because it must serve US customers and reserve part of its capacity to support its own chip production, said the sources, who spoke on the condition of anonymity because they are discussing sensitive commercial matters.