https://www.taxtmi.com/circulars?id=6386 Consolidates RBI instructions for FCNR(B) deposits: scheme covers specified foreign currencies for one- to five-year repatriable term deposits for NRIs; banks must set rates within a ceiling based on LIBOR/SWAP plus a margin using FEDAI benchmarks; interest is calculated on a 360-day year with prescribed payment mechanics and optional compounding on maturity; banks may levy disclosed penalties for premature withdrawal and must follow rules on advances against deposits including a prescribed loan ceiling and prohibitions on artificial structuring and brokerage. en-us Wed, 01 Jul 2009 00:00:00 +0530 Fri, 22 Aug 2025 18:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=6386 Consolidates RBI instructions for FCNR(B) deposits: scheme covers specified foreign currencies for one- to five-year repatriable term deposits for NRIs; banks must set rates within a ceiling based on LIBOR/SWAP plus a margin using FEDAI benchmarks; interest is calculated on a 360-day year with prescribed payment mechanics and optional compounding on maturity; banks may levy disclosed penalties for premature withdrawal and must follow rules on advances against deposits including a prescribed loan ceiling and prohibitions on artificial structuring and brokerage. Circulars FEMA Wed, 01 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/circulars?id=6386