Financial Daily from THE HINDU group of publications
Saturday, Mar 08, 2003
Financial Daily from THE HINDU group of publications Saturday, Mar 08, 2003 |
|
|
|
|
|
Money & Banking
-
Public Sector Banks Dena Bank's foreign currency loan plans Our Bureau
MUMBAI, March 7 IN pursuance of the recent RBI guidelines, Dena Bank has introduced two new schemes to suit Indian residents and non-resident Indians. The foreign currency loans scheme, which is for account holders of FCNR (B) deposits in India, will enable non-resident Indians and overseas corporate bodies to raise loan in foreign currency in India. The loan will be available to account holders for any purpose other than investment in India in real estate business or relending or taking up agricultural/plantation activities. The loans can be availed of in the currency of deposit. A Dena Bank press release said the other scheme, Resident Foreign Currency (Domestic) Current Account scheme, is for residents of India and open to all resident individuals. Under the scheme, the account will be maintained in the form of current account in foreign currency. Deposits are allowed out of foreign exchange acquired by residents in the form of notes/bankers cheques/ travellers cheques/inward remittance through normal banking channel.
Article E-Mail :: Comment :: Syndication
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | Home |
Copyright © 2003, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|