Positive impactCompany
Bank of India's USD 1.2 bn FCNR(B) mobilisation to replace up to Rs 13,000 crore of bulk deposits
Economic Times 2 hrs ago·24 Jul 2026, 7:34 pm
Bank of India is planning to raise USD 1.2 billion through foreign currency non-resident banking (FCNR(B)) deposits. This move is significant for investors as it aims to replace a large portion of the bank's bulk deposits, which could lead to a reduction in funding costs. The outcome of this plan will be important to watch, as it may impact the bank's overall financial performance and ability to support loan growth.
Excerpt from Economic Times
Updated On Jul 25, 2026 at 01:17 AM IST State owned Bank of India has already mobilised more than USD 200 million under the Reserve Bank of India's FCNR(B) deposit window and expects the mobilisation to accelerate over the next two months across its overseas network spread over 15 countries. The bank is sourcing…Read the original at Economic Times
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