Foreign currency exchange risk in case of Non-Resident (Banks) scheme (FCNB) is borne by?
Foreign currency non-resident deposits, usually abbreviated as FCNR(B) - the B stands for banks, are term deposits that non-resident Indians (NRIs) can open with banks in India. These deposits are denominated in foreign currencies permitted by the Reserve Bank of India. This term deposit was started in 1993 and is available in tenures of one to five years. A term deposit lasts for a fixed period after which the amount has to be paid back with the interest being paid either periodically or lump sum at the time of maturity. As per May 2012 RBI circular, under the FCNR(B) scheme, banks have to pay an annual interest at a rate of LIBOR/Swap plus 200 basis points for terms between 1-3 years and LIBOR/Swap plus 300 basis points for terms between 3-5 years. This structure is decided by the RBI and banks use the LIBOR rate on the last working day of a month to fix the FCNR(B) rate for the following month. The currency risk is borne by the banks under the FCNR(B) scheme.
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An initial principal sum of Rs. 8000, invested by Pranav, accrued interest at a compound rate of 20% annually for a period of 2 years. Subsequently, the...
Rama and Dipak each invested a sum of ₹8000 for a period of two years at 15% compound interest per annum. However, while for Rama the interest was co...
A certain sum of money becomes 5000 in 6 years and Rs. 6240 in 10 years at any certain rate of simple interest. Find the principal amount.
Find the period when simple interest on Rs.4000 at 6% per annum will be Rs.400.
Ashakti invested the same amount of money in two distinct Systematic Investment Plans (SIPs), SIP 'X' and SIP 'Y,' both for a duration of 2 years. SIP '...
Rs.7600 is divided into two parts such that if one part be invested at 4% and the other at 5%, the annual interest from both the investments is Rs. 336....
A&B invested their sum in the ratio of 22: 25. Respectively. In two different schemes. Offering simple interest of 15% per annum and compound interest o...
Veeru invested Rs. 3950 at 20% p.a. simple interest for 3 years. After 3 years, he invested the amount received by him at the 20% p.a. compound interest...
On what sum will the difference between the simple and compound interest for 3 years at 20% percent per annum amounts to Rs 66.56?