More than 20% returns: How NRIs can benefit significantly after banks increase FCNR(B) deposit rates
RBI’s New Deposit Scheme for NRIs The Reserve Bank of India (RBI) has introduced a foreign currency non-resident (FCNR) deposit scheme aimed at enhancing foreign inflows. This initiative is particularly targeted at non-resident Indians (NRIs), providing them with attractive investment options. As of Wednesday, banks have started to increase interest rates on these deposits. HDFC […]