In FY14, banks had raised a record $27 billion through the FCNR(B) route after the RBI removed interest rate caps and also offered banks a 3.5% interest rate subsidy to prevent the rupee's rout.source https://economictimes.indiatimes.com/industry/banking/finance/banking/re-deposits-more-attractive-for-banks-despite-measures-from-rbi/articleshow/92735373.cms
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