Many commercial banks, including State Bank of India (SBI), have hiked the interest rates on hard currency term deposits of non-resident Indians.

<tr><td><p class='TableClas'></p><P class='TableClas'> <DIV CLASS=rightDiv><script language="JavaScript">
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		</script> </DIV><p class='TableClas'>SBI hiked the interest rates on its foreign currency non-resident and external term deposits. The new rates came into effect on Sunday. 
</p><p class='TableClas'>NRI deposit rates are revised almost every month. One factor that influences the revision is the movement in the international benchmark London Interbank Offered rate (Libor). 
</p><p class='TableClas'>The bank has hiked interest rates on FCNR deposits in six currencies

Banks raise rates on NRI deposits

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