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Economics2h 23m 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The Reserve Bank of India has temporarily withdrawn interest rate ceilings on fresh FCNR(B) deposits of 3-5 year tenors and on NRE deposits of 3 years and above.

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India

Who
Reserve Bank of India (RBI), banks, Non-Resident Indians (NRIs), SBI economists, V Viswanathan
What
The Reserve Bank of India has temporarily withdrawn interest rate ceilings on fresh FCNR(B) deposits of 3-5 year tenors and on NRE deposits of 3 years and above.
When
Wed, 17 Jun 2026 16:11:37 GMT · 2h 23m ago
Where
India ·
Why
The RBI aims to bolster dollar inflows to stabilize the rupee and maximize stable forex inflows.
The Frontline Impact

How this affects you

This measure is expected to attract significant dollar inflows, with SBI economists estimating around $40-45 billion through FCNR(B) deposits, which could improve liquidity for lending and help stabilize the Indian rupee.

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5 events in this thread
  1. Currently Reading2h 23m 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    The Reserve Bank of India has temporarily withdrawn interest rate ceilings on fresh FCNR(B) deposits of 3-5 year tenors and on NRE deposits of 3 years and above.
  2. Economics2h 23m 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    The Reserve Bank of India (RBI) has temporarily withdrawn interest rate ceilings on fresh FCNR(B) and NRE deposits of certain tenors.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. Economics2h 23m 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    The Reserve Bank of India has temporarily withdrawn the interest rate ceiling on fresh FCNR(B) deposits of 3-5 year tenors and the restriction on interest rates on NRE deposits of 3 year and above tenors.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 32m 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 6m 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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