HSBC's GIFT City unit is offering Non-Resident Indians leverage up to nineteen times their deposited funds on FCNR deposits.

GIFT City, India

Who

HSBC, Non-Resident Indians (NRIs)

What

When

Fri, 17 Jul 2026 00:26:00 GMT · 1h 44m ago

Where

GIFT City, India ·

Why

To attract overseas dollar deposits and boost foreign exchange inflows until September 2026, following a temporary relaxation of interest rate ceilings by the Reserve Bank of India.

The Frontline Impact

How this affects you

This initiative aims to significantly increase foreign exchange inflows into India by incentivizing Non-Resident Indians to deposit dollars and utilize leverage for borrowing.

Story chain

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No related history yet - this is the origin event.

Verified Sources & Citations

The Economic Times
https://economictimes.indiatimes.com/markets/stocks/news/hsbc-offers-19x-fcnrb-leverage-in-gift-city/articleshow/132450266.cms
HIGH

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