RBI Kicks Off Dollar Swap Fiesta for FCNR(B) Deposits

The RBI just kicked off a dollar-rupee swap fiesta for fresh FCNR(B) deposits! Starting now, banks can set their own rates for deposits lasting three to five years, but only in dollars. They can join this fun once a week, making it easier for NRIs to stash their cash. Let's see what kind of cash party this turns into!