Banks raise foreign currency deposit rates in response to RBI relaxation last week

SBI has hiked the rate on one-year tenure FCNR USD deposits to 2.85 from 1.80 per cent earlier. For deposits of 3-4 years and 5 years, it has been hiked to 3.10 per cent and 3.25 per cent, respectively. The previous rates were 2.30 per cent and 2.45 per cent.

from Banking/Finance-Industry-Economic Times https://ift.tt/SElNz3d