The Reserve Bank of India has temporarily removed interest rate ceilings on non-resident deposits, allowing banks to freely mobilize overseas funds until September 30, 2026. This move aims to help banks build long-term liabilities and strengthen their asset-liability management. Banks may now offer higher rates, potentially exceeding 8%, to attract sustainable deposits.
The Reserve Bank of India has lifted the interest rate ceiling on non-resident deposits until September 30, 2026. This measure allows banks to offer higher rates, potentially over 8%, to attract overseas funds. The aim is to bolster banks' long-term liabilities and improve…
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