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Economics3h 42m 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.

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India

Who
Reserve Bank of India (RBI)
What
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.
When
Wed, 17 Jun 2026 15:02:55 GMT · 3h 42m ago
Where
India ·
Why
The temporary easing is expected to help banks mobilise additional foreign currency deposits at a time when global funding conditions remain volatile.
The Frontline Impact

How this affects you

This measure allows banks in India to offer more attractive interest rates on certain foreign currency deposits, potentially increasing foreign capital inflow and providing better returns for non-resident Indian depositors.

Story chain

5 events in this thread
  1. Economics2h 33m 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    The Reserve Bank of India has temporarily withdrawn interest rate ceilings on fresh FCNR(B) deposits of 3-5 year tenors and on NRE deposits of 3 years and above.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. Economics2h 33m 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    The Reserve Bank of India (RBI) has temporarily withdrawn interest rate ceilings on fresh FCNR(B) and NRE deposits of certain tenors.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 33m 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    The Reserve Bank of India has temporarily withdrawn the interest rate ceiling on fresh FCNR(B) deposits of 3-5 year tenors and the restriction on interest rates on NRE deposits of 3 year and above tenors.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. Currently Reading3h 42m 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.
  5. Economics4h 16m 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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