What is FCNR? FCNR term stands for Foreign Currency Non Resident Accounts, which are the deposits maintained by NRIs in a Foreign currency, which is subjected to both rate fluctuation and revision in interest rates paid on them. How do banks determine the rate of interest paid on these FCNR deposits? The interest rates payable
What is FCNR? FCNR term stands for Foreign Currency Non Resident Accounts, which are the deposits maintained by NRIs in a Foreign currency, which is subjected to both rate fluctuation and revision in interest rates paid on them. How do banks determine the rate of interest paid on these FCNR deposits? The interest rates payable