Bandhan Bank has raised interest rates on Foreign Currency Non-Resident Bank deposits for non-resident Indian customers. US dollar deposits of one million dollars and above will now earn 7.1 percent for three to five-year tenures. Deposits below one million dollars will receive 7 percent. This move follows the RBI's forex swap facility to encourage foreign currency inflows.

Canara Bank introduces FCNR(B) Special Deposit Scheme for NRIs, offering up to 6.50% interest on USD deposits with tax benefits.

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…

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…

Equitas Small Finance Bank Limited, has hiked its FCNR (B) deposit rates.

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…

Sections of the Indian diaspora in the US are facing an income squeeze, which may cloud the prospects of this scheme

Bandhan Bank raises FCNR(B) deposit rates to 7.1% for NRIs, enhancing returns amid RBI's forex swap initiative.