SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : India Coffee House
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Nandu who wrote (2697)9/21/1998 12:01:00 PM
From: Mohan Marette   of 12475
 
REF:RIB/FCNR

Anil:
Did you have question about how much money might have come from FCNR account to the RIB,well if you did here is some information on that. Looks like 15-20% came from SBI FCNR accounts and all the other banks reported 8-10%.I didn't do any calculations but it seems like between 500-700 million dollars might have come from FCNR account out of the total 4.1 billion dollars. Here is the article.

=====================
Excerpts

"Mumbai, Sept 20: State Bank of India's (SBI's) foreign-currency non-resident deposits FCNR(B) corpus has reduced by 15-20 per cent, the highest among all banks, owing to funds transferred to the Resurgent India Bonds (RIBs) issue. The banking system overall has, however, witnessed a lower shift to RIBs at 10-12 per cent, according to banks' final estimates."

financialexpress.com
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News