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

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.

India's top banks including SBI, , and have raised interest rates on foreign currency non-resident deposits. This in response to the Reserve Bank's relaxation last week to shore up forex inflows. T… [+2231 chars]

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