Master Circular of instructions relating to deposits held in FCNR(B) Accounts - FEMA - BC 16/2008

Master Circular of instructions relating to deposits held in FCNR(B) Accounts RBI 2008-2009/77 DBOD. No. Dir.BC. 16/13.03.00/2007-08 July 1, 2008 Ashadha 10, 1930(Saka) All Scheduled Commercial Banks (excluding RRBs) Dear Sir Please refer to the Master Circular DBOD No. Dir. BC. 8/ 13.03.00/2007-08 dated July 2, 2007consolidating the instructions/guidelines issued to banks till June 30, 2007 relating to interest rates on deposits held in FCNR(B) Accounts. The Master Circular has been suitably updated by incorporating the instructions issued up to June 30, 2008 and has been placed on the RBI website (http://www.rbi.org.in).A copy of the Master Circular is enclosed. Yours faithfully ( P. Vijaya Bhaskar ) Chief General Manager For master circular click here