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RBI offers NRIs up to 7% interest on dollar deposits
The Reserve Bank of India has reopened a temporary window allowing banks to offer higher interest rates on foreign currency deposits from non-resident Indians.
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Ankita Baidya - Wed, 10, Jun 2026
- 03:51 EDT
- 25
RBI logo / Staff Reporter
The Reserve Bank of India (RBI) has opened a temporary window allowing banks to offer non-resident Indians (NRIs) interest rates of up to 7 percent on dollar-denominated deposits, in a move aimed at attracting foreign currency inflows amid ongoing global economic uncertainty.
The special window applies to Foreign Currency Non-Resident Bank (FCNR-B) deposits and will remain open for three months. Under the scheme, banks have been given additional flexibility to raise interest rate ceilings on foreign currency deposits from NRIs.
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