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Loans against FCNR B deposits exempt from priority sector - The Economic Times
The Reserve Bank of India has announced an exemption for loans against specific foreign currency deposits, particularly fresh FCNR(B) and NRE term deposits. This strategic shift ensures these loans will not factor into the mandatory priority sector lending requirements. Such measures have notably enhanced foreign exchange inflows. Additionally, there is a special facility available for banks to swap these deposits with the RBI.
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RBI Eases Priority Sector Norms For Loans Against Fresh FCNR(B), NRE Deposits Amid Strong Forex Inflows
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RBI removes priority sector burden for FCNR(B) deposits - The Times of India
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https://www.freepressjournal.in/business/rbi-allows-banks-to-lend-against-fcnrb-deposits
RBI allows banks to give loans for FCNR deposits | Mint
https://www.livemint.com/economy/rbi-allows-banks-to-give-loans-for-fcnr-deposits-nri-investors-11782219838855.html
Banks can offer loans for FCNR (B), rebook deposits, RBI clarifies - The Economic Times
https://economictimes.indiatimes.com/news/economy/policy/banks-can-offer-loans-for-fcnr-b-rebook-deposits-rbi-clarifies/articleshow/131939509.cms