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The Latest Breaking News from FCNR

RBI likely to hold rates in August, maintain hawkish tone as inflation risks loom: Economists

The Reserve Bank of India will likely maintain its benchmark repo rate unchanged this August. Elevated inflation risks and the FCNR(B) deposit scheme closure influence this decision. The central bank will adopt a hawkish tone while monitoring monsoon progress and global factors. Most economists anticipate future rate hikes if inflationary…

The Economic Times

Higher FCNR and NRE FD interest rates: This bank revises NRE rates to 7.60% and FCNR rates to 7.40%; check details

AU Small Finance Bank has raised interest rates on FCNR(B) and NRE fixed deposits. These new rates are effective from July 27, 2026, for specific tenures. The government's decision to bear hedging costs on FCNR deposits influenced this change. AU SFB also offers zero forex margin and bank charges on…

The Economic Times

FCNR (B) vs NRE 5-year FD: Which can give higher maturity on $50,000 investment? Know currency risk

FCNR(B) vs NRE currency risk: FCNR(B) and NRE deposits offer distinct investment avenues for non-resident Indians. FCNR(B) deposits provide currency protection, while NRE deposits carry exchange rate risk. Calculations show NRE deposits can yield higher returns if the rupee strengthens. However, the rupee has historically depreciated against the US dollar.…

The Economic Times

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How NRIs, OCIs can get 45% annual return on $1 lakh FCNR (B) deposit as this bank in India offers 19X leverage; Should you go for it?

HSBC Bank's IFSC unit offers Non-Resident Indians significant leverage on FCNR(B) deposits. This strategy allows investors to borrow up to nineteen times their initial deposit amount. The potential for amplified returns arises from the spread between deposit earnings and borrowing costs. However, this leverage strategy carries risks if borrowing costs…

The Economic Times

HDFC Bank shares crash 5%, wipe off Rs 70,000 cr from investor wealth. Why Jefferies, Nomura, others see up to 28% upside?

HDFC Bank shares fell sharply on Monday after its Q1FY27 earnings failed to impress investors, wiping out nearly Rs 70,000 crore in market value. Despite margin pressure and a muted market reaction, brokerages including Jefferies, Nomura, Motilal Oswal and Anand Rathi retained bullish ratings, seeing up to 28% upside in…

The Economic Times

PNB mobilises $419 million in FCNR(B) deposits, on track to meet $2.5 billion target: Executive Director

Punjab National Bank (PNB) has mobilised around USD 419 million in Foreign Currency Non-Resident Bank (FCNR(B)) deposits and remains on track to achieve its USD 2.5 billion target by September 30, despite higher global yields and ongoing negotiations over deposit rates, Executive Director Amit Kumar Srivastava told ANI.

The Economic Times

NRIs can bring USD 70-80 bn into India through FCNR deposits: Expert

Non-Resident Indians can bring seventy to eighty billion US dollars into India. This inflow is possible through the ongoing FCNR initiative offering higher interest rates. The scheme allows overseas Indians to deposit foreign currency earnings in Indian banks. Experts believe this initiative is a unique opportunity for diaspora participation. Such…

The Economic Times

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FCNR(B) FD vs NRE FD: Where can NRIs earn more on $50,000 investment? Compare returns, currency risk and tax benefits

Non-resident Indians (NRIs) and overseas citizens of India (OCIs) can consider investing in FCNR(B) and NRE fixed deposits to achieve reliable returns. While FCNR(B) deposits safeguard against currency fluctuations as they are held in foreign currency, NRE deposits offer opportunities in Indian rupees without such protection. Ultimately, your decision should…

The Economic Times

How to strengthen Indian rupee without a rate hike

The Indian Rupee has depreciated significantly against the US Dollar since early 2025. Measures were introduced to boost capital inflows and support the currency. The Reserve Bank of India has intervened heavily in foreign exchange markets. A proposed foreign exchange cash reserve ratio could resolve currency leads and lags. This…

The Economic Times

RBI clarifies FCNR(B) loan, SBLC eligibility under swap scheme

Indian banks can now offer loans to non-residents and issue standby letters of credit against FCNR(B) deposits under a new RBI swap facility. The central bank clarified that this swap covers only the principal amount of eligible deposits, not interest. This move aims to boost foreign currency inflows by allowing…

The Economic Times

RBI clears loans, SBLCs against FCNR(B) deposits under swap scheme

Banks can now offer loans to non-residents and issue standby letters of credit against FCNR(B) deposits under the RBI's swap facility. This regulatory clarity from the central bank allows Indian banks, including overseas branches, to lend to non-residents who then place these funds as FCNR(B) deposits, serving as collateral. This…

The Economic Times

Looking for over 17% return from FCNR deposit through leverage? Check pitfalls before getting lured

The Indian government's decision to cover hedging costs for FCNR(B) deposits until September 2026 has enabled banks to offer higher interest rates, exceeding 7%. This allows NRIs to leverage these deposits for potentially greater returns, though risks associated with fluctuating borrowing costs and foreign taxes remain.

The Economic Times

SBI revises FCNR(B) interest rates up to 5.75%: NRIs, OCIs & POIs can earn more on these deposits

FCNR(B) interest rates: The Reserve Bank of India's announcement to bear hedging costs for FCNR(B) deposits has prompted SBI to revise its interest rates. NRIs can now earn up to 6% per annum on US dollar-denominated FCNR(B) deposits, with rates varying by amount and tenure.

The Economic Times

Rupee may gain ground as crude prices ease and FCNR inflows rise, says Navneet Damani

The Indian rupee is poised for appreciation, driven by a significant drop in crude oil prices and anticipated substantial inflows from NRI FCNR(B) deposits. Recent tax reforms are expected to attract between $50 billion and $70 billion, potentially reversing the currency's recent depreciation and pushing it towards 92-93 levels.

The Economic Times

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The Economic Times

FCNR(B): Revisiting a proven crisis management tool

Facing renewed external sector pressures, the RBI has revived a version of the FCNR(B) deposit framework to attract foreign currency inflows and support the rupee. While effective for near-term stability, experts say long-term resilience requires reducing structural vulnerabilities and import dependence.

The Economic Times

FCNR deposit in demand: $1,277 extra interest on $10,000 investment by NRIs after RBI's latest move?

FCNR interest rates: The Indian government will now cover hedging costs for fresh 3 to 5-year FCNR(B) deposits until September 30, 2026. This move allows banks to offer higher interest rates to Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs). An NRI may now earn an additional $1,277 on…

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