HSBC plans India banking expansion with $14.5 billion in foreign currency deposits
The Economic Times reports that HSBC raised the funds through a special Reserve Bank of India swap facility and aims to expand lending and wealth management services.
TLDR
HSBC expects its $14.5 billion foreign currency deposit haul to bolster its Indian operations, The Economic Times reports. The bank plans to deploy the funds cautiously toward corporate lending and mortgages, alongside a push to expand wealth management services.
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