The Reserve Bank of India (RBI) is the regulator of foreign exchange dealings in India. It prohibits, restricts, and regulates the opening, holding and maintaining of foreign currency accounts, and the limits up to which a person resident in India can hold the amount in such accounts. These regulations are known as Foreign Exchange Management (foreign currency accounts by a person resident in India) (FEMA) Regulations, 2015 and contain separate provisions for resident and non-residents.
Current Rates
| Policy Repo Rate: | 6.00% |
| Fixed Reverse Repo: | 3.35% |
| Marginal Standing Facility Rate: | 6.25% |
| Bank Rate: | 6.25% |
| CRR: | 4.00% |
| SLR: | 18.00% |
| Savings Deposit Rate: | 2.70% – 2.75% |
| Term Dep. Rate > 1 Year: | 6.00% – 7.15% |
| Base Rate: | 9.10% – 10.40% |
| MCLR (Overnight): | 8.15% – 8.45% |
| Senior Citizen Savings Scheme (SCSS) 2004: | 8.20% |
| Public Provident Fund(PPF): | 7.10% |
| Sukanya Samriddhi Yojana: | 8.20% |
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