#foreigncurrencydeposits

RBI Steps in as Banks Scale Back JPY-linked Special Deposits for NRIs

Mumbai's financial landscape has seen significant changes as the Reserve Bank of India (RBI) takes action on JPY-linked special deposits. Once a popular tool for attracting NRI funds, these deposits were marketed as premium rupee plans (PRPs), offering high returns by leveraging the forward premium on the Japanese yen. Banks, like IndusInd Bank and Yes Bank, had been using these products to attract NRI deposits by offering high yields based on the yen's forward premium in the foreign exchange

NRI News

27 Feb 2026 19:16 PM 5 views

RBI Steps in as Banks Scale Back JPY-linked Special Deposits for NRIs

Mumbai's financial landscape has seen significant changes as the Reserve Bank of India (RBI) takes action on JPY-linked special deposits. Once a popular tool for attracting NRI funds, these deposits were marketed as premium rupee plans (PRPs), offering high returns by leveraging the forward premium on the Japanese yen. Banks, like IndusInd Bank and Yes Bank, had been using these products to attract NRI deposits by offering high yields based on the yen's forward premium in the foreign exchange

NRI News

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#foreigncurrencydeposits

RBI Steps in as Banks Scale Back JPY-linked Special Deposits for NRIs

RBI Steps in as Banks Scale Back JPY-linked Special Deposits for NRIs

The Hand & The Eye: World’s Largest Magic Venue Opening in Chicago in 2026

Naidu Urges Collaborative Efforts to Resolve Telangana–Andhra Water Sharing Dispute

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PM Modi to visit Israel on February 25–26 to strengthen India ties

India joins US-led Gaza Board of Peace talks in observer role

Vijay Attends Chennai Wedding with Jagan Reddy Amid Jana Nayagan Row

Understanding RBI's Impact on Offshore Gifting and NRI Transactions

Madras High Court Upholds Vijay's Rs 1.5 Crore Tax Penalty, Dismisses Appeal

How Indian Designers Use AI to Create Global Fashion Trends

Are Indian Businesses Falling Behind in the AI Race

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The Hand & The Eye: World’s Largest Magic Venue Opening in Chicago in 2026

Naidu Urges Collaborative Efforts to Resolve Telangana–Andhra Water Sharing Dispute

Modern Landscaping Design Trends for Contemporary Homes

PM Modi to visit Israel on February 25–26 to strengthen India ties

India joins US-led Gaza Board of Peace talks in observer role

Vijay Attends Chennai Wedding with Jagan Reddy Amid Jana Nayagan Row

Understanding RBI's Impact on Offshore Gifting and NRI Transactions

Madras High Court Upholds Vijay's Rs 1.5 Crore Tax Penalty, Dismisses Appeal

How Indian Designers Use AI to Create Global Fashion Trends

Are Indian Businesses Falling Behind in the AI Race

#foreigncurrencydeposits

RBI Steps in as Banks Scale Back JPY-linked Special Deposits for NRIs

RBI Steps in as Banks Scale Back JPY-linked Special Deposits for NRIs

The Hand & The Eye: World’s Largest Magic Venue Opening in Chicago in 2026

Naidu Urges Collaborative Efforts to Resolve Telangana–Andhra Water Sharing Dispute

Modern Landscaping Design Trends for Contemporary Homes

PM Modi to visit Israel on February 25–26 to strengthen India ties

India joins US-led Gaza Board of Peace talks in observer role

Vijay Attends Chennai Wedding with Jagan Reddy Amid Jana Nayagan Row

Understanding RBI's Impact on Offshore Gifting and NRI Transactions

Madras High Court Upholds Vijay's Rs 1.5 Crore Tax Penalty, Dismisses Appeal

How Indian Designers Use AI to Create Global Fashion Trends

Are Indian Businesses Falling Behind in the AI Race

Popular Areas