India's small banks use RBI currency facility to chase diaspora deposits

India August 03, 2026 01:32 PM

BENGALURU -- An initiative by India's central bank intended to shore up dollar reserves has given the country's small banks an opening to offer better rates and win lucrative business from nonresident Indians (NRIs), a demographic with which many of them have long struggled.

India's small banks use RBI currency facility to chase diaspora deposits

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