ICICI, SBI and other banks hike FCNR(B) deposit rates to attract NRI funds after RBI’s forex swap move cuts currency hedging costs.

The Reserve Bank of India has introduced new foreign exchange measures. These include offering special swap facilities to encourage state-owned companies to raise funds abroad.…

RBI introduces ECB and FCNR (B) swap windows to enhance liquidity and support foreign currency inflows until January 2027.

RBI's decision to bear the hedging cost on FCNR-B deposits and exempt banks from maintaining the cash reserve ratio and statutory liquidity ratio against those deposits would save…

MUMBAI: Reserve Bank of India has opened the dollar tap by taking on the currency risk itself to draw in overseas money, while nudging state-owned borrowers to look abroad for…

MUMBAI: Bank stocks surged across the board on Tuesday following RBI’s operational guidelines for a special foreign currency non-resident (bank) or FCNR(B), swap window, with…

Indian banks have significantly increased interest rates on foreign currency deposits for Non-Resident Indians, with some hikes reaching 350 basis points. This move follows the…

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…

Indian banks are offering higher interest rates on foreign currency deposits. This move aims to attract money from overseas residents. The Reserve Bank of India has introduced new…

Banks raise FCNR (B) deposit rates to 6-7%, enhancing returns for depositors amid RBI's strategies to attract dollar inflows.