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Residents tempted to gatecrash FCNR party for NRIs - The Economic Times
Wealthy Indians are finding ways to benefit from a new foreign currency deposit scheme. They are sending money to NRI relatives as gifts to invest in lucrative FCNR accounts. This strategy aims for high returns and potential tax benefits. NRIs are also moving funds to these new deposits. This practice echoes past schemes, offering attractive dollar returns.
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economictimes.indiatimes.com
RBI move sparks race among banks to raise FCNR(B) deposit rates; smaller lenders offer over 7% on USD deposits
Banks are aggressively increasing interest rates on NRI dollar deposits. This move follows a special RBI dispensation to boost foreign currency inflows. Several lenders are now…
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cryptobriefing.com
Banks target Indian diaspora in $50B deposit drive to support the rupee
India's RBI reopens FCNR(B) deposit window to attract up to $60 billion from NRIs abroad, offering 5.5%-7% rates on dollar deposits to stabilize the rupee.
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Banks court wealthy Indian diaspora in $50 billion deposit drive - The Economic Times
Indian banks are launching a global campaign to attract over $50 billion in deposits from the diaspora. This initiative aims to strengthen foreign exchange reserves and support…
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Banks seek RBI nod on Guarantee Rule to boost NRI deposit inflows
Banks are urging the RBI to clarify regulations for the new FCNR deposit scheme, aiming to attract diaspora funds. They seek a tweak in wording to allow Non-Resident Indians to…
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Bringing in US dollars: RBI flags off FCNR(B) chase, pushes banks to go all out for forex inflows
In an ambitious bid to enhance India's foreign currency reserves, the Reserve Bank of India is urging banks to ramp up their efforts in attracting foreign currency non-resident…
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Residents tempted to gatecrash FCNR party for NRIs - The Economic Times
Wealthy Indians are finding ways to benefit from a new foreign currency deposit scheme. They are sending money to NRI relatives as gifts to invest in lucrative FCNR accounts. This…
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To drive up NRI investments, banks make FCNR deposits attractive with up to 7.1% return on dollar deposits - The Economic Times
India saw inflows topping $155 billion in 2025-26 via remittances. Add another estimated $50 billion from this scheme which will run until September, and the country is…
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Looking for over 17% return from FCNR deposit through leverage? Check pitfalls before getting lured - The Economic Times
The Indian government's decision to cover hedging costs for FCNR(B) deposits until September 2026 has enabled banks to offer higher interest rates, exceeding 7%. This allows NRIs…
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India's diaspora knows its growth story best. They must utlise GIFT City route to stay invested - The Economic Times
India's economy is transforming, offering opportunities for Non-Resident Indians. Despite rupee depreciation, an undervalued currency presents potential gains. Reforms and…
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thehindubusinessline.com
Banks dangle mega returns to lure NRIs to FCNR(B) deposits
Indian banks attract NRIs with FCNR(B) deposits offering up to 14% returns and significant leverage on investments.
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How NRIs, OCIs may benefit as RBI allows banks to offer higher interest rates on certain FCNRs, NREs - The Economic Times
The Reserve Bank of India has temporarily lifted interest rate restrictions on certain NRE and FCNR(B) deposits until September 30, 2026. This move aims to attract foreign…
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Attracting NRI inflows: RBI temporarily withdraws interest rate ceiling on fresh FCNR(B) deposits of 3-5 yr tenor
The Reserve Bank of India seems to be pulling out all the stops to ensure that banks are able to attract deposits from Non-Resident Indians (NRIs).