Rbi Swap Scheme: RBI swap scheme boosts private banks’ Q2 business numbers
MUMBAI: Private banks’ Q2 FY27 credit and deposit growth got a significant lift from RBI’s concessional dollar-rupee swap facility for FCNR(B) deposits. Banks mobilised billions of dollars and deployed part of the funds through overseas branches, boosting headline balance-sheet growth.The gap between headline and underlying growth was significant. Axis Bank’s advances grew 22.7%, but 18.8%…
