deposit

FCNR vs RFC: Tax benefits; Remove spouse from NRE deposit to avoid reassessment

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FCNR vs RFC: Tax benefits; Remove spouse from NRE deposit to avoid reassessment

I’m planning to return to India after working abroad for 35 years. I have some FCNR deposits. I have been advised to convert them to RFC deposits upon my return. Like FCNR deposit interest, is RFC deposit interest also tax free?—Name withheld on request Returning Indians have the option to convert their FCNR (foreign currency … Read more

Margin, deposit pressure likely to spoil banks’ June quarter show

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Margin, deposit pressure likely to spoil banks’ June quarter show

Indian banks are expected to report lackluster earnings growth for the June quarter (Q1FY25), hurt mainly by margin pressures with lenders unable to raise deposits at a pace matching credit expansion. Some early signs of stress were already visible in the Q1 updates of various banks. For instance, state-owned Punjab National Bank reported quarter-on-quarter deposits … Read more