ISSUING AUTHORITY : RESERVE BANK OF INDIA
DATE OF ISSUE : 31/01/2014
EFFECTIVE DATE : 01/03/2014
CIRCULAR NO. RBI/2013-14/477
In exercise of the powers conferred by Section 35A of the Banking Regulation Act, 1949, following changes in the interest rates on FCNR (B) deposits will be exercised with effect from March 1, 2014.
The interest rates mentioned vide Circular dated August 14, 2013 shall be applicable till February 28, 2014.
For detailed Circular, follow the Link below:
RBI/2013-14/477
In exercise of the powers conferred by Section 35A of the Banking Regulation Act, 1949, following changes in the interest rates on FCNR (B) deposits will be exercised with effect from March 1, 2014.
MATURITY PERIOD
|
EXISTING
|
WITH EFFECT FROM MARCH 1, 2014
|
1 year to less than 3 years
|
LIBOR/SWAP plus 200 basis points
|
No change
|
3 - 5 years
|
LIBOR/SWAP plus 400 basis points
|
LIBOR/SWAP plus 300 basis points
|
The interest rates mentioned vide Circular dated August 14, 2013 shall be applicable till February 28, 2014.
For detailed Circular, follow the Link below:
RBI/2013-14/477
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