The Reserve Bank of India (RBI) today, November 15 has announced more steps to encourage more cash in the financial system after cutting interest rates twice in less than a month to protect the economy from the global recession. The Apex bank  has revised the interest rate ceiling on Foreign Currency Non-Resident (Banks) FCNR (B) deposits by a further 75 basis points, i.e., to Libor/Swap rates plus 100 basis points with immediate effect. Currently, the interest rate ceiling on FCNR(B)   read more »