Positive impactStocks
HSBC offers 19x FCNR(B) leverage in GIFT City
Economic Times 1d ago·17 Jul 2026, 12:26 am
HSBC has launched a special deposit program in India's GIFT City that allows Non-Resident Indians (NRIs) to borrow up to 19 times the amount they deposit. This high leverage is made possible by the Reserve Bank of India temporarily relaxing interest rate caps, a move aimed at attracting foreign currency inflows.
For investors, this initiative signals a proactive effort by global banks to secure dollar liquidity in India. It offers NRIs a unique way to amplify their returns on foreign currency savings, though it also highlights the government's push to strengthen the financial infrastructure in GIFT City.
Investors should watch how this program influences the volume of foreign exchange inflows into India. The success of this offer will depend on whether it effectively competes with other global banking hubs for overseas deposits.
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- Category: Stocks.
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