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<h1>RBI Updates Guidelines for Scheduled Commercial Banks on FCNR(B) Account Interest Rates, Supersedes July 2007 Circular.</h1> The Master Circular provides updated instructions and guidelines for Scheduled Commercial Banks (excluding Regional Rural Banks) regarding interest rates on deposits held in Foreign Currency Non-Resident (Bank) [FCNR(B)] Accounts. This circular consolidates all directives issued up to June 30, 2008, superseding the previous circular dated July 2, 2007. The updated circular is accessible on the Reserve Bank of India's website.