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RBI pushes banks to bring more dollars home

The push comes amid RBI measures to incentivise foreign currency inflows, including swap facilities and hedging cost support for FCNR(B) deposits, aimed at strengthening forex reserves and easing pressures on the rupee. The rupee depreciated nearly 11% last fiscal year and touched a record low of 96.96 against the US dollar in May. It closed at 95.11 on Friday.

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economictimes.indiatimes.com34 min fa

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

RBI incentivizes $30-70B FCNR(B) inflows via hedging subsidies to stabilize the rupee, down 11% year-over-year. Stronger rupee reduces FX exposure for tech companies sourcing Indian talent and outsourced development.

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Timeline cronologica

mercoledì 10 giugno 2026·economictimes.indiatimes.com
Some lenders hike rates on FX deposits for non-resident Indians - The Economic Times
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…
mercoledì 10 giugno 2026·economictimes.indiatimes.com
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…

RBI pushes banks to bring more dollars home

Confronto fonti

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

Timeline cronologica

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

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

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

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

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

RBI's measures may attract USD 60-70 billion foreign capital, support rupee: India Ratings

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

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

RBI forex measures to lower banks' overseas borrowing costs by 2-2.5 per cent, aid inflows: Report

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