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Bank of Baroda has launched a caller Foreign Currency Non-Resident (FCNR (B)) Deposit Scheme offering higher involvement rates for Non-Resident Indians (NRIs), successful enactment with the caller measures announced by the Reserve Bank of India to promote overseas currency inflows into the country.
The caller strategy is applicable from June 11, 2026.
Under the scheme, the slope is offering higher involvement rates for deposits successful the 3 to 5 twelvemonth maturity bucket crossed large overseas currencies including the US Dollar (USD), British Pound Sterling (GBP), Euro, Australian Dollar (AUD) and Canadian Dollar (CAD).
Customers tin present gain up to 6% connected USD deposits, 4.75% connected GBP and AUD deposits, 5.15% connected CAD deposits and 3.75% connected Euro deposits, a merchandise from the slope said connected Thursday.
Beena Vaheed, Executive Director of the slope said, “The RBI’s caller measures to promote overseas currency inflows into the banking strategy person created an enabling situation for banks to fortify their FCNR (B) offerings for the NRI community. The determination is simply a well-calibrated and multi-pronged measurement aimed astatine attracting FCNR(B) deposits and strengthening the Indian Rupee. As India’s planetary slope with a important beingness crossed aggregate countries, the slope is good positioned to capitalise connected this accidental and maximise FCNR(B) deposit mobilisation.”
RBI’s measures to promote overseas currency inflows are expected to fortify the country’s outer assemblage and augment overseas speech reserves, contributing to wide macroeconomic stability, the slope said.
