63
Economics2h 51m 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.

Archive Window: 30 Days Left

India

Who
Reserve Bank of India (RBI)
What
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.
When
Wed, 17 Jun 2026 14:28:57 GMT · 2h 51m ago
Where
India ·
Why
This move is aimed at attracting higher foreign currency inflows into the country.
The Frontline Impact

How this affects you

This policy change by India's central bank makes it more attractive for non-resident Indians and overseas investors to deposit foreign currency, potentially strengthening India's external economic position.

Story chain

5 events in this thread
  1. Economics1h 8m 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    The Reserve Bank of India has temporarily withdrawn interest rate ceilings on fresh FCNR(B) deposits of 3-5 year tenors and on NRE deposits of 3 years and above.
    Open article
  2. Economics1h 8m ago
    The Reserve Bank of India (RBI) has temporarily withdrawn interest rate ceilings on fresh FCNR(B) and NRE deposits of certain tenors.
    Open article
  3. Economics1h 8m 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    The Reserve Bank of India has temporarily withdrawn the interest rate ceiling on fresh FCNR(B) deposits of 3-5 year tenors and the restriction on interest rates on NRE deposits of 3 year and above tenors.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. Economics2h 17m 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. Currently Reading2h 51m 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.

Verified Sources & Citations