State-run Canara Bank announced plans to raise 2.5 billion dollars through Non-Resident External (NRE) and foreign currency non-resident deposit schemes to strengthen long-term capital reserves.
The banking institution stated that funds raised will support foreign currency lending operations and expand commercial credit facilities for international trade clients.
The capital raising initiative aligns with broader public sector bank efforts to tap global dollar liquidity amidst favorable interest rate spreads.
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Sources:
https://timesofindia.indiatimes.com/business/india-business/gold-price-prediction-today-where-are-gold-rates-headed-on-july-28-2026-and-in-the-near-term-mcx-gold-silver-prices/articleshow/132677801.cms