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Whether concessional rate of interest is applicable when a loan against FCNR(B) deposit is repaid in foreign currency?

April 26, 2017applicable concessional currency deposit FCNR foreign loan rate repaid

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Whether concessional rate of interest is applicable when a loan against FCNR(B) deposit is repaid in foreign currency?

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Banks have the freedom to fix the rate of interest chargeable on loans and advances against FCNR(B) deposits to the depositors without reference to their Benchmark Prime Lending Rate (BPLR) irrespective of whether repayment is made in Rupees or in Foreign Currency.