Branch2 Intelligence
State Bank of India draws over $1.5 billion in offshore deposits
Key takeaway
SBI raised over $1.5bn in offshore deposits via RBI's FCNR(B) scheme, boosting its liquidity and reducing reliance on wholesale funding.
- Step 11st-order: SBI raises over $1.5bn in offshore deposits via RBI's FCNR(B) scheme, improving its liquidity and reducing funding costs.
- Step 22nd-order: Lower cost of funds allows SBI to reduce lending rates or maintain margins, benefiting borrowers and the broader economy.
- Step 33rd-order: Increased forex reserves and rupee stability reduce input costs for import-dependent SMEs, supporting their margins.
Source: CNBC TV18 (Markets)
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