India, Aug. 7 -- justify;">For Non-Resident Indians holding US dollar savings are saved the dilemma of parking their US Dollar in low yielding or unattractive savings interest rates. They may simply convert the money into Indian Rupees in the hope of a higher deposit rate in India rather than park it in a low-yield US account and settle for modest returns. The Foreign Currency Non-Resident (Bank) deposit, commonly called FCNR (B) Deposit, is the solution. Recently, FCNR (B) Deposit has come back into focus following the Reserve Bank of India's recent announcements.

On June 8, 2026, the Reserve Bank of India permitted US Dollar-Indian Rupee swap facility for fresh FCNR (B) Deposits mobilised by banks for tenures of three to five years. RB...