The Reserve Bank of India has stated that the interest rate ceiling on Foreign Currency Non-Resident Account FCNR(B) deposits has been raised to overnight Alternative Reference Rate (ARR) plus 400 ...

A popular investment choice among non-resident Indians (NRIs) is fixed deposits (FDs). This investment option is user-friendly, offers guaranteed returns, and adheres to transparent regulations.

Private sector lender, Bandhan Bank has revised its Foreign Currency Non-Resident Account (FCNR) deposit rates for July month. The bank is offering as high as 4.68% in British pound sterling, while ...

State Bank of India offers three types of accounts to NRIs: Non Resident Ordinary (NRO) account, Non Resident External (NRE) account and Foreign Currency Non-Repatriable (Bank) FCNR (B) account.

'Despite rising inflows, many NRIs lack awareness about NRO and NRE accounts and mistakenly use family accounts or invest in a relative's name.' 'Many are unaware of tax implications.' Illustration: ...

Interest rates on US Dollar Deposits in FCNR (B ) accounts in India have traditionally been around 2-3%. However, they have spiked following rate rises in the US, coming close to what banks are ...

PTI reported that the new interest rates for SBI savings accounts are applicable from October 15 on accounts with balance of less than Rs 10 crore. Earlier, SBI used to 2.75% interest per annum on ...

Fund flows into Foreign Currency Non-Resident Bank, or FCNR (B), deposits failed to rise significantly in July and August, despite measures unveiled by the Reserve Bank of India (RBI) to boost inflows ...

Yes Bank Fixed Deposit Interest rate revised for NRE accounts. Yes Bank has also hiked its peak interest rate on Foreign Currency Non-Resident (FCNR) deposits by 20 basis points, allowing the NRI ...

Overseas Indians sent a record $29 billion back home in the December quarter through remittances, driven by increasing returns from FCNR instruments. An analysis of RBI's data has revealed the highest ...