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Banks seek RBI nod to let NRIs break & rebook existing deposits

News ·

To incentivise foreign currency inflows, the Reserve Bank of India will swap fresh dollar term deposits raised until end-September at par. In effect, the RBI will bear the entire hedging cost on deposits mobilised under the Foreign Currency Non-Resident (Bank), or FCNR(B), scheme. In line with the RBI's expectations, …

What this means

This story is part of Rail 24's ongoing investments coverage. We summarise reporting from News so you can quickly scan what changed and why it matters for travellers, commuters and the wider Indian transport sector, then read the full original article at the source. Rail 24 aggregates trusted investments sources and refreshes them continuously so you always see the latest developments in one place.

This investments update was reported by News on and curated by Rail 24. For the complete report, visit the original source below.

Read the full story at News

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