Fcnr(b)

Monetary policy: Rupee reverses initial gains on concern over RBI moves

Bond yield hardens on rate status quo

RBI policy: Hike in FCNR(B) deposit rate may have limited impact on flows

An FCNR (B) account lets customers maintain a fixed deposit in India in freely convertible foreign currencies for a tenure ranging from one to five years

Foreign fund flows remain weak for banks despite RBI's liberal steps

The measures have brought in $1.5-2 billion so far; response to relaxed FX norms tepid as US rates higher, RBI not acting as counterparty

FCNR-B deposit pool shrinks sharply in Q3 on redemption

The deposits stood at $20.85 bn in December 2016 from $44.11 bn at the end of September 2016

FCNR redemptions: Time to gear up for increased market volatility

Historically, it is seen that a volatile currency market is contagious and transfers the volatility to equity markets