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Sources say Indian state-owned banks estimate an inflow of $30 billion from overseas deposits programme.

Indian state-owned banks expect to raise around $30 billion by September 30 through the RBI’s subsidized NRI dollar deposit scheme, bankers told Reuters. Approximately 10 billion dollars have been mobilized so far. Banks expect fund inflows to accelerate after the RBI eases lending rules, and most funds are likely to move closer to the scheme’s deadline.