FCNR (B) loans are beneficial to the corporates on account of following: At times, it may entail lesser interest cost Rupee borrowings. The borrower is not required to go to the International market for raising the funds as foreign currency funds are made available in India reducing the cost of raising such funds.
Note: a) The facility of opening and maintaining FCNR(B) Accounts by Overseas Corporate Bodies such as overseas companies, firms, societies and other corporate bodies which are owned directly or indirectly to the extent of at least 60 per cent by NRIs and overseas trusts in which at least 60 per cent of the beneficial interest is irrevocably held by such persons (OCBs) has been withdrawn with effect from.
Funds transfer from FCNR (B) to overseas account. The funds held in FCNR (B) account are fully repatriable i.e. funds can be transferred to any overseas account. You can place a request for transfer of funds as per any of the following mode:, FCNR – B Loans Foreign Currency Loan Facility … For import of raw materials or for working capital requirement–The FCNR – B loan is linked to the MPBF limit and the portion of the loan with equivalent Indian Rupees is earmarked : Repayment: The FCNR – B loan can be repaid in foreign currency also. …
Most bankers said the concessional widow helped them swap the funds raised from the FCNR – B route, thereby gaining on the interest rate front. With the concessional facility now over, bankers now feel there is no advantage in availing of the extended facility .
FCNR Deposit for NRIs – Secret Revealed WiseNRI, FCNR Deposit for NRIs – Secret Revealed WiseNRI, Reserve Bank of India – Master Circulars, Avail FCNR B Loans For Up to 90% of The MPBF Limit | Bank of Baroda, Facility for automatic renewal of deposits on maturity. Any inland movement of fund for the purpose of opening FCNR ( B )account as well as for repatriation outside India of balances held in these accounts will be free of Inland exchange or commission for Non Resident depositors.
12/6/2013 · Bankers say extended FCNR-B facility makes little sense Written by PTI | Mumbai | Updated: Dec 6 2013, 22:39pm hrs To arrest the rupee fall, RBI on August 14 deregulated interest rates on FCNR – B …
12/7/2013 · Bankers say extended FCNR-B facility makes little sense Written by PTI | Mumbai | Updated: Dec 7 2013, 00:45am hrs The central bank tapered off this concessional swap window after mopping up USD …
