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of <h1>RBI Updates Guidelines for FCNR(B) Account Interest Rates for Scheduled Commercial Banks, Excluding Regional Rural Banks.</h1> The circular issued by the Reserve Bank of India (RBI) provides updated instructions for scheduled commercial banks, excluding regional rural banks, regarding deposits held in Foreign Currency Non-Resident (Bank) [FCNR(B)] Accounts. This update consolidates previous guidelines and incorporates changes made up to June 30, 2007, regarding the interest rates applicable to these accounts. The revised instructions are available on the RBI website.
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