Indian bank deposits climb by ₹11 lakh crore in six weeks due to dollar influx
Bank deposits in India saw a massive increase of approximately ₹11 lakh crore during the six-week period ending July 31, reaching an all-time high as incoming dollars strengthened rupee deposits. This growth marks a turnaround from the ₹3.87 lakh crore drop observed from April 1 to June 15. Initiatives by the RBI, such as offering discounted swap windows, played a key role in drawing in FCNR deposits and promoting more affordable dollar-based funding.
by shortkt.com✓