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Central Bank raises NRE, FCNR (B) rates

CHENNAI: Central Bank of India has raised the interest rates on NRE and Foreign Currency Non-Resident (B) deposits across all maturities with effect from June 1. For NRE deposits of one year to less than two years the new rate is 5.39 per cent (5.30 per cent). For other maturities also the rate has been revised. In the case of FCNR-B deposits, the U.S. dollar deposits of one year to less than two years will attract an interest rate of 4.64 per cent (4.55 per cent). The rates for other maturities have also been raised. The rates for deposits of British pound sterling, euro, Canadian dollar and Australian dollar have also been revised upward.

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Central Bank raises NRE, FCNR (B) rates

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