RBI’s forex push may bring $60-70 bn inflows
The Reserve Bank of India’s (RBI) forex swap measures for FCNR(B) deposits and external commercial borrowings (ECBs) by state-owned companies could attract foreign capital inflows of $60–70 billion, according to India Ratings and Research. The move is also expected to provide support to the Indian rupee. Indian Banking News https://indianbankingnews.com/news/rbi-forex-push-may-bring-usd-60-70-bn-inflow
IDFC First says KPMG found Chandigarh fraud was isolated branch-level scam
MUMBAI: Private sector lender IDFC First Bank said a forensic review by KPMG found that the ₹646 crore fraud uncovered at its Chandigarh branch earlier this year was an isolated incident involving collusion between branch employees, customer representatives and third parties. In a stock exchange filing on Friday, the bank said the findings reaffirmed that the fraud was […]