Suraj's Post

💵 RBI just made a move that could strengthen the rupee The latest FCNR(B) deposit changes are not just for NRIs. They are part of a broader strategy to bring more foreign currency into India. 📌 What changed: • Banks can now offer higher returns on FCNR(B) deposits • NRIs and OCIs can deposit money in foreign currency through Indian banks • Returns are earned in USD, reducing currency depreciation risk • Deposit window: 8 June to 30 September 2026 • Available for tenures of 3 to 5 years Why does this matter? More dollar deposits mean stronger forex reserves, better liquidity and greater support for the rupee during global uncertainty. Instead of directly buying dollars from the market, RBI is encouraging foreign currency inflows through the banking system. It is a quiet policy move with a potentially big economic impact. The goal is not just higher returns for NRIs. It is to strengthen India’s financial position for the long term.

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This post was published on 16th June, 2026 by Suraj on his Instagram handle "@myfintaxofficial (MYFINTAX | Finance & Tax Educator | CA Suraj Soni)". Suraj has total 252.0K followers on Instagram and has a total of 3.1K post. Suraj receives an average engagement rate of % per post on Instagram. This post has received 18 comments which are greater than the average comments that Suraj gets. Overall the engagement rate for this post was than the average for the profile.