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Banks revise foreign currency deposit rates
Millennium Post Delhi
|July 14, 2022
IN RESPONSE TO RBI RELAXATION LAST WEEK | SBI has revised FCNR rates on USD in range of 2.85-3.25% per annum on various tenure USD deposits from July 10
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NEW DELHI: SBI, ICICI Bank and IDFC First Bank have raised interest rates on foreign currency non-resident deposits in response to the Reserve Bank’s relaxation last week to shore up forex inflows.
The country’s largest private sector lender HDFC Bank has also revised the rates on foreign currency (non-resident) deposits. However, it clarified that the revision is not in response to the latest RBI move and it will take a call on revising the rates further going forward.
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