TaxTMI 
TaxTMI 
Interest Rates on Non-Resident (External) Rupee (NRE) Deposits and FCNR(B) deposits
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.... on Non-Resident (External) Rupee (NRE) Deposits and FCNR(B) deposits 1. Interest Rates on Non-Resident (External) Rupee (NRE) Deposits Please refer to paragraph 1 of our circular DBOD.No.Dir.BC.64/13.03.00/2008-09 dated October 15, 2008 on Interest Rates on Deposits held in Non-Resident (External) Rupee (NRE) Accounts. In view of the prevailing market conditions, it has been decided that until ....
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..... Interest Rates on FCNR(B) deposits Please refer to paragraph 2 of our circular No. DBOD. Dir. BC 64 / 13.03.00 / 2008-09 dated October 15, 2008 on Interest Rates on Deposits held in FCNR(B) Accounts. It has also been decided that until further notice and with effect from the close of business in India as on November 15, 2008, the interest rates on FCNR(B) Deposits will be as under: In respect ....
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.....BC. 81 / 13.03.00/2008-09 dated November 15, 2008 is enclosed. Yours faithfully (Vinay Baijal) Chief General Manager DBOD. No. Dir. BC. 81 /13.03.00/2008-09 November 15, 2008 Interest Rates on Non-Resident (External) Rupee (NRE) Deposits and FCNR(B) deposits In exercise of the powers conferred by Section 35A of the Banking Regulation Act, 1949, and in modification of the directive DBOD.No.D....
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....ainst LIBOR / SWAP rates plus 100 basis points effective from the close of business on October 15, 2008). The interest rates as determined above for three year deposits will also be applicable in case the maturity period exceeds three years. The changes in interest rates will also apply to NRE deposits renewed after their present maturity period". Interest Rates on FCNR(B) Deposits ' In respect ....