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RBI extends interest rates on FCNR (B) Deposits till Jan 31

The deregulated interest rate scheme on NRE rupee deposits will remain unchanged until January 31, 2014, subject to review, the RBI said

November 30, 2013 11:33 IST | India Infoline News Service
The Reserve Bank of India on Friday has extended the deregulated interest rate scheme for NRE (non-resident-external) deposits and foreign currency non-resident deposits (FCNR-B) till January 31, 2014 from November 30.

The deregulated interest rate scheme on NRE rupee deposits will remain unchanged until January 31, 2014, subject to review, the RBI said in a notification.

The RBI also allowed banks to offer higher interest for foreign currency non-resident (FCNR) deposits for a period of two more months.


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