FCNR(B) Deposit Rates at Ujjivan Small Finance Bank Are Increased to 7.13% Annually

News Desk, News Nation 360: India's external sector stability and foreign exchange liquidity are expected to be strengthened by the Reserve Bank of India's (RBI) aggressive steps to enable greater foreign currency inflows through Foreign Currency Non-Resident (Bank) or FCNR(B) deposits. Hitendra Jha, Head of Retail Liabilities, TASC, and TPP at Ujjivan Small Finance Bank, commented on this promising development and described the decision as a timely intervention that strengthens institutional confidence in India's financial system while offering Non-Resident Indians (NRIs) a very alluring way to channel stable global savings into the nation's larger growth story. Offering up to 7.13% p.a. on USD FCNR(B) deposits for terms ranging from three to five years, Ujjivan SFB is positioning its interest structure among the most competitive in the domestic banking sector, which is directly in line with the central bank's strategic objective. This improved financial framework is expected to increase national foreign exchange reserves and promote long-term financial stability by offering safe, lucrative, and high-yield investment options. This will further cement India's standing as a top global destination for NRI capital and asset appreciation.

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