Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Economic Times
The Economic Times
Sneha Kulkarni

How NRIs, OCIs may benefit as RBI allows banks to offer higher interest rates on certain FCNRs, NREs

NRE RBI Interest Rates Reserve Bank of India

The Reserve Bank of India (RBI) has temporarily relaxed interest rate restrictions on certain Non-Resident External (NRE) and Foreign Currency Non-Resident [FCNR(B)] deposits to attract more foreign currency inflows. The relaxation of interest rates on certain FCNR(B) deposits and NREs will be applicable till September 30, 2026, as per a statement from the Central Bank.

The removal of restrictions means banks may now increase their NRE and FCNR(B) deposit interest rates based on their funding requirements and market conditions during this period. NRIs planning to open or renew such FCNR(B) or NRE deposits may therefore see higher interest rate offerings from banks in the coming weeks.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Oregon woman claims Acme is tinting salmon packaging to trick customers. She peels the plastic off the fish and shows exactly what is underneath
What you see isn't what you get.
We Got This Covered
We Got This Covered
Hayley Williams Urges Fans to Vote in November After Calling MAGA Supporters 'Pieces of Sh*t' on Stage
Hayley Williams urged fans to vote in November during a New Orleans concert before directing profane criticism at MAGA and referencing the Ku Klux Klan.
International Business Times UK
International Business Times UK
Reading alone, together is all the rage at book doofs and reading parties. What makes it social?
It’s called a doof, but it’s actually all about quiet reading. There are beanbags, some chairs and a few shared tables, where readers sit (or lie) down and read their separate books. Maybe some music playing in the background. Book Doof’s founder calls it a social experience. But can people…
The Conversation
The Conversation
‘This is not my camera’: Woman trusts camera repair shop in LA with family heirloom but the camera they return sets alarm bells ringing
She just wants her grandmother's camera back.
We Got This Covered
We Got This Covered
“Not The Lip Filler”: Christina Aguilera’s Makes Bold Fashion Move In Latest Public Appearance
Christina Aguilera’s latest public appearance has fans dissecting everything from her lips to her facial features after she stepped out in a daring, lingerie-inspired look.
Bored Panda
Bored Panda
Why Does Ice Cream Sometimes Get Gritty After It’s Been in the Freezer?
Few things are more disappointing than opening a container of ice cream expecting a creamy scoop and finding a gritty, crunchy, or sandy texture instead. It may seem as though the dessert has gone bad, especially if it was smooth when you first brought it home. However, several different changes…
Grocery Coupon Guide
Grocery Coupon Guide
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play