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Higher FCNR rates fail to bring in the moolah

The RBI’s temporary move to allow banks to offer higher interest rates on FCNR (B) deposits to attract foreign capital has seen limited response. Bankers cite the rupee’s decline, a narrowing interest rate gap, and sufficient existing spreads as reasons for low uptake, despite the revised ceiling.

Read moreHigher FCNR rates fail to bring in the moolah
Source: economictimes.indiatimes.com
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