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HISTORICAL FACTS: 9 - The Untold Story

FCNR deposit in demand: $1,277 extra interest on $10,000 investment by NRIs after RBI's latest move?

FCNR interest rates: The Indian government will now cover hedging costs for fresh 3 to 5-year FCNR(B) deposits until September 30, 2026. This move allows banks to offer higher interest rates to Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs). An NRI may now earn an additional $1,277 on…

The Economic Times

Some lenders hike rates on FX deposits for non-resident Indians

Indian banks have significantly increased interest rates on foreign currency deposits for Non-Resident Indians, with some hikes reaching 350 basis points. This move follows the Reserve Bank of India's decision to bear hedging costs for longer-term deposits, aiming to attract dollar inflows and support the rupee. Several major lenders have…

The Economic Times

Is RBI replacing paper currency with plastic notes from June 30, 2026? Check details

Viral social media claims about the Reserve Bank of India replacing paper currency with plastic notes by June 30, 2026, are false. The Press Information Bureau's fact-check team has debunked these posts. The RBI is considering polymer currency but no final decision is made. Citizens should rely on official sources…

The Economic Times

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Rupee to average around 96/USD in FY27; risks from oil, dollar persist: Motilal Oswal

The Indian rupee is projected to average around 96 against the US dollar in FY27. However, this outlook faces potential challenges including dollar strength and crude oil price fluctuations. Despite a widening trade deficit, strong capital inflows and RBI intervention are expected to prevent a sharp depreciation.

The Economic Times

India's current account deficit to remain 1.5-1.7% of GDP in FY27 but RBI measures may turn BoP surplus: SBI Report

India's current account deficit is projected for FY27. However, Reserve Bank of India measures are anticipated to improve the country's external position. These steps aim to strengthen the Rupee and attract foreign capital. This could lead to a balance of payments surplus for FY27. Inflows are expected to boost foreign…

The Economic Times

India's current account deficit to stand at 1.8% of GDP for FY27: ICICI Bank Global Market Report

India is expected to see a current account deficit of 1.8 per cent of GDP in FY27 as against around 2 per cent projected earlier. This adjustment follows a stable outturn in the external sector during the preceding fiscal year despite a widening trade deficit.

The Economic Times

308% return on SGB premature redemption date: Gold bond turns Rs 1 lakh investment into Rs 4.08 lakh

The RBI has announced the premature redemption price for Sovereign Gold Bond (SGB) 2019-20 Series-VII, set at Rs 15,275 per unit. Investors can redeem these bonds from June 10, 2026, after the fifth year of issuance.

The Economic Times

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How a simple home loan EMI calculation before you apply can reduce your interest burden

A home loan EMI calculator is an invaluable tool for financial planning, allowing users to estimate monthly repayments, total interest, and repayment schedules by inputting loan amount, interest rate, and tenure. It aids in comparing loan options, optimizing tenure, planning prepayments, and potentially saving significant interest costs.

The Economic Times

RBI measures likely to attract USD 55-65 billion inflows in FY27: SBI report

India anticipates USD 55-65 billion in foreign inflows this fiscal year. The Reserve Bank of India's recent measures aim to stabilize the rupee and boost the country's balance of payments. These initiatives are expected to attract more foreign capital and deepen the domestic debt market. The overall balance of payments…

The Economic Times

From tax exemption to FCNR(B) deposits: How India is trying to attract foreign capital

India is taking steps to attract foreign investment and boost its economy. The Reserve Bank of India and the government have introduced new measures. These aim to bring in more dollars and stabilize the rupee. The initiatives include special swap facilities and tax exemptions for foreign investors. These actions are…

The Economic Times

Indian bonds draw buyers on RBI measures, softer oil

Indian government bonds saw renewed buying on Tuesday. Lower oil prices and Reserve Bank of India measures to attract dollar inflows improved sentiment. The benchmark bond yield fell. The RBI's recent policy decision focused on attracting foreign debt inflows. These measures are expected to bring significant inflows. India posted a…

The Economic Times

Analysts see RBI measures steadying rupee, push back depreciation forecasts

The Indian rupee strengthened as falling crude oil prices and central bank measures to attract dollar inflows bolstered sentiment. Analysts have revised depreciation forecasts downward, with some expecting the rupee to trade around 93 in the short run. These steps aim to counter recent pressure that saw the rupee hit…

The Economic Times

RBI offers concessional swaps, allows leverage for NRI deposits to drive forex inflows

The Reserve Bank of India has introduced new foreign exchange measures. These include special swap facilities to encourage state-owned companies to raise funds abroad. Banks can now offer leverage on foreign currency non-resident deposits. These initiatives aim to boost overseas fundraising and deposit mobilization for Indian entities.

The Economic Times

Fitch cuts FY27 growth projection to 6.4%; US-Iran war to slow down economy

Fitch Ratings has reduced India's GDP growth projection to 6.4 percent for the current fiscal year. The US-Iran war is expected to slow economic activity in the September and December quarters. Rising prices will dampen consumer spending. For FY28, growth is expected to pick up to 6.7 percent. Fitch also…

The Economic Times

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The Economic Times

SBI, PNB, other PSU bank stocks tumble up to 21% from record highs. Time to buy or wait?

Public sector bank stocks have seen a significant drop from their recent peaks. The Reserve Bank of India has introduced measures to attract foreign investment in government securities. Experts suggest these steps are positive for the banking sector. However, caution is advised, with a focus on quality banks possessing strong…

The Economic Times

Indian economy, government finances, see mounting costs from Iran war

India's economy, once humming with benign inflation and steady growth, now faces mounting costs from the Iran war. As a major oil importer, disruptions to supply and elevated prices are impacting growth, inflation, and government finances. The central bank's ability to manage these shocks is increasingly difficult.

The Economic Times

Rs 1.50 lakh/month income from Rs 1.5 crore corpus? Easy retirement strategies explained

Retiring with Rs 1.5 cr can provide a monthly income, but the amount depends on risk appetite and investment returns. Experts suggest withdrawal rates between 4.5% and 6.5% annually, with potential monthly incomes ranging from Rs 70,000 to Rs 1.2 lakh. A bucket strategy is recommended for managing immediate needs…

The Economic Times

India may have brokered a rupee truce, but hasn't won peace yet

India has unveiled a package aimed at supporting the rupee without resorting to capital controls, a move seen as more market-friendly than during the 2013 currency crisis when overseas remittance limits were tightened. Instead, authorities are encouraging state-owned firms and banks to raise dollars abroad and bring them back to…

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The Economic Times

India banks could raise $35-$40 billion via RBI's foreign currency deposit scheme, PNB CEO Ashok Chandra says

Indian banks anticipate raising up to $40 billion through foreign currency deposits. The Reserve Bank of India is backing a new scheme to attract dollar inflows. This initiative aims to strengthen the rupee. Banks will offer attractive interest rates to overseas customers. Punjab National Bank plans to raise $3 billion…

The Economic Times

100 days of Iran war: India must brace for broad-based economic shock

In a volatile turn of events, escalating strikes between Iran and Israel are sending shockwaves that may reach India’s economy. As the specter of increased oil prices looms, disruptions in supply chains could become a reality. The Reserve Bank of India is on alert, with policymakers devising strategies to mitigate…

The Economic Times

RBI seen joining Asia’s rate-hike push as inflation risks rise

The Reserve Bank of India is expected to increase interest rates soon. This move aligns with other central banks responding to rising inflation. Policymakers have signaled a potential rate hike if price pressures become widespread. The RBI has also raised its inflation forecast for the fiscal year ending March 2027.…

The Economic Times

220% return on SGB premature redemption date: Gold bond turns Rs 1 lakh investment into Rs 3.20 lakh

The Reserve Bank of India has set the premature redemption price for Sovereign Gold Bond 2021-22 Series-III. Investors can redeem these bonds from June 8, 2026. The redemption price is fixed at Rs 15,512 per unit.

The Economic Times

RBI ramped rupee defense to record before government bazooka

The Reserve Bank of India has reached a record $110-$115 billion in its net-short dollar book, a key tool for defending the rupee. This significant increase in forward dollar sales, particularly in offshore markets, aims to curb excessive volatility driven by factors like oil price shocks and speculative pressures.

The Economic Times

Inflation poses bigger risk than growth this fiscal as monsoon and crude weigh on rural demand: Nuvama

In FY27, India's economy grapples with inflation that hits hardest in rural regions, where rising food prices become an urgent concern. The eyes of policymakers are fixed on the monsoon's trajectory, a key determinant for crop health. Global factors, such as elevated crude oil prices and geopolitical strife, further exacerbate…

The Economic Times

HDFC Bank borrower alert: EMIs on these loans to cost more as bank raises lending rates by up to 10 bps

HDFC Bank has increased its Marginal Cost of Funds-based Lending Rates (MCLR) by up to 10 basis points, effective June 8, 2026. The revised rates now range from 8.05% to 8.65% across various loan tenures. This adjustment follows the Reserve Bank of India's decision to maintain the repo rate at…

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