CSB Bank, Kotak Mahindra Bank, ICICI Bank, Axis Bank, raise FCNR(B) rates amid NRI deposit push
A broad-based increase in Foreign Currency Non-Resident (Bank) [FCNR(B)] deposit rates has been seen across Indian lenders, with banks sharply raising dollar-linked returns to attract NRI inflows amid tightening liquidity conditions and higher market rates. Leading the latest revisions, CSB Bank has significantly hiked its USD FCNR(B) deposit rates by nearly 300 basis points, taking…
