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 RBI
A Foreign Exchange Dealers Association of India (FEDAI)
B Financial Benchmarks India Pvt. Ltd. (FBIL)
C Fixed Income Money Market and Derivatives Association of India (FIMMDA)
D Bank’s Board
E None of the above
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