New Delhi, Sept. 14 -- RBL Bank stock hit a new 52-week high on Wednesday, and has gained nearly 9% in September so far to Rs.412.50. The rally comes after RBL raised Rs.32,472 crore in FCNR(B) deposits under the scheme, which ended on 31 August, wherein the Reserve Bank of India (RBI) covers the hedging costs.

No doubt, RBL stands to gain materially from the funds raised in two ways. One, the deposits have substantially expanded the bank's total deposit base by 26%, from Rs.1.25 trillion at the end of the June quarter (Q1FY27). In comparison, rival IDFC First Bank also raised Rs.33,975 crore under FCNR(B), increasing its total deposit base at a comparatively lesser rate of 11%. Notably, RBL has shared the break-up of unleveraged and lev...