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INR/USD: HSBC Offers Indian Diaspora 19x Leverage on FCNR(B) Deposits

Bloomberg Markets Monday 20 July 2026, 01:30 UTC By Siddhi Nayak, Divya Patil, Laura Gardner Cuesta and Saikat Das 1 min read
Key Points

HSBC, StanChart Join Rush for Indian Diaspora Dollars When Moumita Shome landed in Dubai from Australia last month, the calls from bankers started almost immediately. Relationship managers from multiple lenders wanted to sell the aeronautical engineer on Foreign Currency Non-Resident bank deposits, part of a broader push to bring home dollars from overseas Indians.

HSBC, StanChart Join Rush for Indian Diaspora Dollars When Moumita Shome landed in Dubai from Australia last month, the calls from bankers started almost immediately. Relationship managers from multiple lenders wanted to sell the aeronautical engineer on Foreign Currency Non-Resident bank deposits, part of a broader push to bring home dollars from overseas Indians.
INR/USD (ORG) HSBC Offers (ORG) Indian (ORG) StanChart Join Rush (ORG) Moumita Shome (PERSON) Dubai (LOCATION) Australia (LOCATION) aeronautical (ORG) Foreign Currency Non-Resident (ORG) Indians (ORG)
Originally published by Bloomberg Markets Read original →

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