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Who can fix the interest rates on NRE and FCNR(B) deposits?

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Who can fix the interest rates on NRE and FCNR(B) deposits?

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The Boards of Directors of banks have been empowered to authorise the Asset-Liability Management Committee to fix interest rates on deposits within the ceiling prescribed by RBI.

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Board of Directors of banks have been empowered to authorise the Asset-Liability Management Committee to fix interest rates on deposits and advances.

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