FCNR(B) deposit rates have risen sharply after the RBI introduced support for 3-5-year foreign currency deposits, with some banks now offering up to 6.75% on US dollar deposits. IDFC FIRST Bank and IndusInd Bank offer the highest rate among the banks tracked, while Central Bank of India and PNB lead PSU banks at 6.60%.
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Title: Business News India: Latest Business News Today, Share Market, Economy