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Economics2h 26m ago

The Reserve Bank of India (RBI) has temporarily withdrawn interest rate ceilings on fresh FCNR(B) and NRE deposits of certain tenors.

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India

Who
Reserve Bank of India (RBI), banks, Non-Resident Indians (NRIs), SBI economists, V Viswanathan
What
The Reserve Bank of India (RBI) has temporarily withdrawn interest rate ceilings on fresh FCNR(B) and NRE deposits of certain tenors.
When
Wed, 17 Jun 2026 16:11:37 GMT · 2h 26m ago
Where
India ·
Why
This move aims to attract deposits from Non-Resident Indians (NRIs) and bolster dollar inflows to stabilize the rupee.
The Frontline Impact

How this affects you

The measure could lead to an estimated $40-45 billion in inflows through FCNR(B) deposits, enhancing the country's forex liquidity and potentially supporting lending within the economy given the exemption lasts until September 30, 2026.

Story chain

5 events in this thread
  1. Economics2h 26m ago
    The Reserve Bank of India has temporarily withdrawn interest rate ceilings on fresh FCNR(B) deposits of 3-5 year tenors and on NRE deposits of 3 years and above.
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  2. Currently Reading2h 26m ago
    The Reserve Bank of India (RBI) has temporarily withdrawn interest rate ceilings on fresh FCNR(B) and NRE deposits of certain tenors.
  3. Economics2h 26m ago
    The Reserve Bank of India has temporarily withdrawn the interest rate ceiling on fresh FCNR(B) deposits of 3-5 year tenors and the restriction on interest rates on NRE deposits of 3 year and above tenors.
    Open article
  4. Economics3h 34m ago
    The RBI has temporarily removed interest rate restrictions on select NRE and FCNR(B) deposits, allowing banks to offer higher rates and helping attract foreign currency inflows until September 30, 2026.
    Open article
  5. Economics4h 8m ago
    The Reserve Bank of India (RBI) on Wednesday removed interest rate ceilings on fresh three-year and five-year Foreign Currency Non-Resident Bank [FCNR(B)] deposits and certain Non-Resident External (NRE) deposits until Sept. 30, 2026.
    Open article

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