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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 potentially looking at inflows of at least $150 billion this year. While Gulf Cooperation Council countries have historically dominated India’s inward remittances, advanced economies now contribute more.
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thehindubusinessline.com
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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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…
