Current Affairs · Foreign Investment Policy
To attract more foreign capital inflows, the RBI revised the interest rate ceiling for Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits. With effect from December 6, 2024, banks are permitted to raise fresh FCNR(B) deposits of 1 to less than 3 years maturity at rates not exceeding the Overnight Alternative Reference Rate (ARR) plus how many basis points (bps)?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1200 bps
- 2300 bps
- 3400 bps✓
- 4500 bps
Correct answer
400 bps
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