Banks Brace for 15-20 Basis Points FCNR(B) Cost Showdown

Listen up, financial warriors! Indian banks are about to face a 15-20 basis point rise in FCNR(B) deposit costs, and it’s gonna be a showdown! With the RBI covering the principal but leaving interest hedging to the banks, if you think 6.5% is the magic number, think again — it could be 6.65-6.70%! Get ready to rumble in the world of finance!