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RBI removes interest rate cap on new FCNR(B) deposits
The Reserve Bank of India has temporarily removed the interest rate ceiling on fresh three- and five-year FCNR-B deposits, effective until September 30, 2026.
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thehindubusinessline.com
FCNR (B) deposits: Banks’ may face a tricky situation
Banks may struggle to retain FCNR (B) deposits as NRIs consider premature closures for higher interest rates on new deposits.
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economictimes.indiatimes.com
FCNR(B) window may save banks Rs 4,000 crore
Banks are poised to save approximately ₹4,000 crore annually by raising deposits through FCNR(B) accounts, as the RBI covers hedging costs, making them cheaper than domestic fixed…
