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UAE central bank restrictions may dampen NRI dollar mobilisation - The Economic Times
New UAE Central Bank rules are creating hurdles for Indian banks seeking to attract NRI dollar deposits. Restrictions on representative offices, including documentation support and cross-selling, are expected to slow down deposit mobilization, particularly for retail customers. This comes at a critical time as Indian banks are aggressively marketing FCNR(B) deposits with attractive interest rates and leverage options until September 30.
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