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Deposits under RBI's latest foreign currency non-resident bank scheme will carry one-year lock-in
The Reserve Bank of India's new FCNR-B scheme offers a one-year lock-in for deposits and mandates non-cancellable swaps for banks. This initiative, featuring an attractive at-par swap arrangement, aims to attract significant foreign currency inflows, with banks exempted from CRR and SLR requirements on these deposits.
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economictimes.indiatimes.com
Free flow of FCNR(B) money: RBI to bear hedging costs on NRI FX deposits, easing banks’ overseas funding
The Reserve Bank of India is now covering all hedging costs for banks raising foreign currency deposits. This move aims to make these deposits more attractive to overseas…
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thehindubusinessline.com
RBI announces swap window for ECBs and FCNR (B) deposits
RBI introduces ECB and FCNR (B) swap windows to enhance liquidity and support foreign currency inflows until January 2027.
