The decision, driven by a few considerations, was communicated by the Securities & Exchange Board of India (SEBI) in a January 24 email to the fund custodians – banks and institutions who keep custody of securities and act as bookkeepers of the FPIs – three persons aware of the matter told ET.
FCNR(B) windfall for banks explained: Who got highest inflows and what it means for investors
FCNR(B) deposits offer banks a cheaper and balance-sheet-efficient source of funding, but their finite tenor and initial deployment challenges could pressure margins. While ICICI Bank