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Banks seek RBI nod to let NRIs break & rebook existing deposits
To incentivise foreign currency inflows, the Reserve Bank of India will swap fresh dollar term deposits raised until end-September at par. In effect, the RBI will bear the entire hedging cost on deposits mobilised under the Foreign Currency Non-Resident (Bank), or FCNR(B), scheme. In line with the RBI's expectations, banks are passing on almost the entire benefit to depositors, making these deposits more attractive.
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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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economictimes.indiatimes.com
New FCNR USD deposits offering up to 6.5% interest rate: Bank of Baroda, Indian Overseas Bank and others launch schemes for NRIs, OCIs -…
Following RBI's measures to boost foreign currency inflows, several banks like Canara Bank, Federal Bank, Bank of Baroda, and IOB have launched FCNR(B) schemes with attractive US…
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RBI temporarily eases NRI deposit rate norms to attract overseas funds
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…
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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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RBI temporarily withdraws rate caps on FCNR(B), NRE deposits till Sept 30
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…
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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).
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thehindu.com
RBI allows banks to offer higher interest rates to NRIs/PIOs to mobilise forex
RBI temporarily lifts interest rate ceiling on NRI/PIO deposits to enhance forex reserves and attract foreign currency investments.
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RBI removes cap on NRI deposit rates until September
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…
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Banks seek RBI nod to let NRIs break & rebook existing deposits
To incentivise foreign currency inflows, the Reserve Bank of India will swap fresh dollar term deposits raised until end-September at par. In effect, the RBI will bear the entire…
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Banks seek RBI nod to let NRIs break & rebook existing deposits - The Economic Times
To incentivise foreign currency inflows, the Reserve Bank of India will swap fresh dollar term deposits raised until end-September at par. In effect, the RBI will bear the entire…
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Euphoria over FCNR (B) deposits misplaced
Sections of the Indian diaspora in the US are facing an income squeeze, which may cloud the prospects of this scheme