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Economics1h 11m 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.
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 · 1h 11m 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
2 events in this thread- Currently Reading1h 11m agoThe 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.
- Economics1h 45m agoThe 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
Verified Sources & Citations
- HIGHNDTV Profithttps://www.ndtvprofit.com/economy/rbi-scraps-interest-rate-caps-on-3-and-5-year-fcnr-b-nre-deposits-to-attract-foreign-inflows-11650276
- HIGHCNBC TV18https://www.cnbctv18.com/economy/rbi-removes-interest-rate-ceilings-on-select-nre-fcnrb-deposits-till-sept-30-19927405.htm
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