Several Indian banks, including HDFC Bank, Yes Bank, and AU Small Finance Bank, have increased interest rates on foreign currency deposits for Non-Resident Indians (NRIs) following the Reserve Bank of India's recent relaxation of FCNR(B) deposit regulations. The move is aimed at attracting greater foreign currency inflows amid ongoing pressure on the rupee and foreign exchange reserves.
The Reserve Bank of India maintained its neutral policy stance, flagged rising global uncertainties and announced measures to attract foreign capital while lowering its FY27 growth projection.
