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RBI temporarily withdraws rate caps on FCNR(B), NRE deposits till Sept 30 - The Economic Times
The Reserve Bank of India has removed interest rate caps on specific non-resident deposits. This move grants banks more freedom to attract foreign funds. The changes are effective immediately and will continue until September 2026. Banks can now offer higher rates on FCNR(B) and NRE deposits. This aims to boost long-term liability mobilisation and improve asset-liability management for financial institutions.
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