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India Millennium Deposit

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Deposit rates for NRIs may rise

Deposit rates for non-resident Indians may rise following Tuesday's rate hike by the US central bank Federal Reserve and due to the impact of forthcoming India Millennium Deposit redemptions worth......

New scheme to mobilise forex deposits from NRIs on cards

After a gap of more than a decade, the government may turn to India's diaspora to boost foreign exchange reserves. The government and the Reserve Bank of India (RBI) have started discussing the......

SBI plans to launch India Fund

The State Bank of India is considering launching an India-dedicated offshore fund as one of the options to retain the India Millennium Deposits which will come up for redemption in December this......

SBI raising costly money for IMDs

The State Bank of India group is leaving no stone unturned to raise money from the market for redemption of India millennium deposits next week.The country's largest commercial bank and its......

SBI's $7.3 bn IMD redemption on Dec 29

On the eve of the redemption of India Millennium Deposits of $7.3 billion t the non-resident Indians, Finance Minister P Chidambaram on Wednesday indicated that there would be no problem in the......

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