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 move aims to help banks build long-term liabilities and strengthen their asset-liability management. Banks may now offer higher rates, potentially exceeding 8%, to attract sustainable 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 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…

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…