FCNR (B) Deposit Options Are Increased by Bandhan Bank

News Desk, News Nation 360: For its NRI clientele, Bandhan Bank has unveiled a very alluring Foreign Currency Non-Resident (Bank) or FCNR(B) deposit plan that offers a profitable chance to lock in premium returns on US dollar-linked deposits. The Reserve Bank of India has scaled its interest structure to offer a highly competitive 7.1% interest rate on USD 1 million and above for tenures ranging from 3 to 5 years, while raising the rate for deposits under USD 1 million to 7%, in direct response to the regulatory introduction of a specialised US Dollar–Rupee Forex Swap Facility intended to encourage foreign currency inflows. Rajinder Kumar Babbar, Executive Director & Chief Business Officer at Bandhan Bank, commented on this limited-period strategic rollout, emphasising that it effectively mitigates severe exposure to exchange rate fluctuations and potential rupee depreciation while enabling overseas Indian investors to secure stable, high-value returns over a medium to long-term horizon. The bank is actively encouraging international clients to open non-resident accounts in order to take advantage of these favourable macroeconomic deposit rates, supported by its enormous domestic footprint of nearly 2,000 retail bank branches across the country. This is reinforcing the bank's long-term commercial focus on providing tailored wealth management solutions that address the changing financial stability needs of its global customer base.

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