Question
The Overnight Alternative Reference Rate for the
respective currency / Swap rates quoted / displayed by whom shall be used as the reference for arriving at the interest rates on FCNR(B) (Foreign Currency Non Resident-Bank) deposits as per the recent circular by RBISolution
The Overnight Alternative Reference Rate for the respective currency / Swap rates quoted / displayed by Financial Benchmarks India Pvt. Ltd. (FBIL) shall be used as the reference for arriving at the interest rates on FCNR(B) deposits.
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