FCNR deposit in demand: $1,277 extra interest on $10,000 investment by NRIs after RBI's latest move?

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FCNR interest rates: The Indian government will now cover hedging costs for fresh 3 to 5-year FCNR(B) deposits until September 30, 2026. This move allows banks to offer higher interest rates to Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs). An NRI may now earn an additional $1,277 on a $10,000, 5-year FCNR(B) deposit.

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FCNR deposit in demand: $1,277 extra interest on $10,000 investment by NRIs after RBI's latest move?

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