A surge in leveraged trades involving FCNR(B) deposits is likely to have propelled loans against fixed deposits to their fastest growth rate in more than three years, with outstanding advances jumping 43.2% year-on-year to Rs 2.04 lakh crore in August, according to Reserve Bank of India (RBI) data. The last time growth was higher was in June 2023, when such loans had risen 47%. Advances against fixed deposits rose by around Rs 42,750 crore in just one month, from Rs 1.62 lakh crore at the end of July. Compared with August last year, when outstanding advances stood at Rs 1.43 lakh crore, the increase was around Rs 61,500 crore.