HSBCโs $14.5 Billion FCNR Windfall Set to Fuel India Wealth and Retail Push
HSBC expects a large foreign currency deposit inflow to strengthen its India franchise, after raising $14.5 billion through a special Reserve Bank of India swap facility. The bank plans to deploy the funds cautiously into corporate lending, mortgages and wealth management, using the attractive leverage available to deepen its retail and affluent-banking presence.
