Recent RBI steps in September to stop rupee depreciation have created a new buzz in the banking sector in attracting NRI funds, this time in Foreign Currency Non Resident (FCNR) deposits, especially, through Leveraged FCNR deposits. Exploiting the opportunity, it is expected that banks could raise USD 10 billion or more. A lot of banks […]
Recent Steps by RBI to curb rupee depreciation (reduce gold import and tight liquidity in banking system) has led the short term rates and bond yields hit record high, giving a unique opportunity for investors to invest in debt at this level. The yield on 10 year G-sec increased from 7.10% on May 24 to […]
India has always been the most rewarding and sought after destination for investments for NRIs due to higher interest rates and growth potential. However, their experience may not be excellent mainly due to theirs or their advisors’ ignorance of rules and regulations specific to NRIs for investments or taxation or both. It is our endeavor […]
With FCNR rates regulated by RBI and volatile foreign currency market, a lot of banks have introduced and are marketing products for NRIs to generate more return on FCNR deposits. While there are catchy names used for the plans by various banks, like RupeeMax (HDFC Bank), Rupee Advantage Plan (Kotak), FCNB Premium Account (SBI), Smart […]