#fcnr-deposits
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
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 immediately and will continue until September 2026. Banks can now offer higher …