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Banks pay 7% on dollar deposits as India seeks fresh foreign currency

Indian banks are significantly increasing rates on foreign-currency deposits to attract overseas residents, testing the central bank's new measures to boost capital inflows and support the rupee. This strategy aims to strengthen the currency amidst high oil prices and intense domestic deposit competition.

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economictimes.indiatimes.com

timesofindia.indiatimes.com

thehindubusinessline.com

cryptobriefing.com

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thehindubusinessline.com1 mese fa

Smaller lenders offer over 7% on USD deposits in bid to attract FCNR(B) deposit rates

Smaller banks raise FCNR(B) deposit rates over 7% as RBI aims to boost US dollar inflows from NRIs.

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Timeline cronologica

domenica 7 giugno 2026·economictimes.indiatimes.com
Banks to be told to step up FCNR (B) deposits
Banks will now encourage more foreign currency deposits. The Reserve Bank of India will cover all hedging costs for these deposits. This move aims to attract significant foreign…
lunedì 8 giugno 2026·economictimes.indiatimes.com
India banks could raise $35-$40 billion via RBI's foreign currency deposit scheme, PNB CEO Ashok Chandra says
Indian banks anticipate raising up to $40 billion through foreign currency deposits. The Reserve Bank of India is backing a new scheme to attract dollar inflows. This initiative…

Banks pay 7% on dollar deposits as India seeks fresh foreign currency

Confronto fonti

Smaller lenders offer over 7% on USD deposits in bid to attract FCNR(B) deposit rates

Timeline cronologica

Banks to be told to step up FCNR (B) deposits

India banks could raise $35-$40 billion via RBI's foreign currency deposit scheme, PNB CEO Ashok Chandra says

Banks target Indian diaspora in $50B deposit drive to support the rupee

After RBI measures, banks offer up to 7% on dollar deposits

Bringing in US dollars: RBI flags off FCNR(B) chase, pushes banks to go all out for forex inflows

RBI to fully absorb forex risks, inflows may see $50bn boost

From tax exemption to FCNR(B) deposits: How India is trying to attract foreign capital

Yes Bank hikes FX deposit rates to attract non-resident inflows

Some lenders hike rates on FX deposits for non-resident Indians - The Economic Times

Banks pay 7% on dollar deposits as India seeks fresh foreign currency

Latest FCNR interest rates: HDFC Bank, SBI, ICICI Bank, PNB, Central Bank of India and more - The Economic Times

Banks raise NRI deposit rates to draw dollar inflows - The Economic Times

Banks kick-off rate hikes on FCNR (B) deposits

After RBI measures, banks offer up to 7% on dollar deposits

Banks hike FCNR(B) deposit rates to attract NRI funds after RBI forex swap move

Smaller lenders offer over 7% on USD deposits in bid to attract FCNR(B) deposit rates

RBI move sparks race among banks to raise FCNR(B) deposit rates; smaller lenders offer over 7% on USD deposits

Banks target Indian diaspora in $50B deposit drive to support the rupee

Banks court wealthy Indian diaspora in $50 billion deposit drive - The Economic Times

PNB, Ujjivan raise FCNR deposit rates

RBI pushes banks to bring more dollars home

Bringing in US dollars: RBI flags off FCNR(B) chase, pushes banks to go all out for forex inflows