RBI allows banks to offer higher interest rates to NRIs/PIOs to mobilise forex
The central bank has issued Amendment Directions on June 17, 2026. File. | Photo Credit: Reuters The Reserve Bank of India (RBI), on a review of it’s 2025 direction, has decided to temporarily withdraw interest rate ceiling on fresh Foreign Currently Non-Resident- Bank [FCNR(B)] deposits of 3-5 year tenors and restriction on interest rates on…
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