India's small banks use RBI currency facility to chase diaspora deposits
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Source: Nikkei Asia
Published: 2026-08-03 13:00 UTC+10:00
Section: General
Factuality Score: 100
Opinion Category: Neutral
Topics: Economy & Finance, India, Business & Economy, Asia Pacific
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The likes of Equitas Small Finance Bank, AU Small Finance Bank and IDFC First Bank are offering nonresidents Indians interest rates of up to 7.5%, compared with the 5.25% to 6% offered by State Bank of India and the 6% offered by HDFC. (Source photos by Getty Images, Reuters and Equitas Small Finance Bank's website)
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