Canara Bank offers special deposit scheme for NRIs
Canara Bank has launched a new FCNR (B) Special Deposit Scheme for Non-Resident Indians, offering competitive interest rates on foreign currency deposits. The scheme is designed to attract foreign currency inflows and provides tax exemptions on interest earned.
Why it matters
Provides a financial instrument for NRIs to invest in India while supporting the country's foreign exchange reserves.
Canara Bank has announced its FCNR (B) Special Deposit Scheme, designed to help Non-Resident Indians (NRIs) grow their savings while investing in India.
Standard financial news reporting on a bank product launch with no political or social bias.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in