SENSEX
NIFTY
GOLD
USD/INR

Weather

image 28    C

Economy News

The Economic Times

Economy / The Economic Times

details

Indian banks slash FCNR deposit rates by up to 310 basis points

Indian banks have lowered interest rates on foreign-currency deposits significantly. This action follows the closure of the Reserve Bank of India's special swap window. Banks offered unusually high rates to attract overseas funds during the ten-week period. This special facility enabled lenders to provide substantially higher returns to depositors. The strong inflows prompted the RBI to advance the closure of this window.

2 Sep 2026 12:43 am