RBI temporarily lifts interest rate ceiling on NRI/PIO deposits to enhance forex reserves and attract foreign currency investments.

Banks may struggle to retain FCNR (B) deposits as NRIs consider premature closures for higher interest rates on new deposits.

FCNR(B) interest rates: The Reserve Bank of India's announcement to bear hedging costs for FCNR(B) deposits has prompted SBI to revise its interest rates. NRIs can now earn up to…

The Reserve Bank of India has eased interest rate rules for overseas deposits. This allows banks to offer better returns on FCNR(B) and NRE accounts. The changes aim to attract…

The Reserve Bank of India has removed interest rate caps on specific non-resident deposits. This move grants banks more freedom to attract foreign funds. The changes are effective…

The Reserve Bank of India has temporarily removed interest rate ceilings on non-resident deposits, allowing banks to freely mobilize overseas funds until September 30, 2026. This…