Iran curbs, Federal Reserve meet outcome to decide intricacies of NRI bonds

Two events in early November — the full impact of the United States’ sanctions on Iran and the US Federal Reserve meeting — will decide the shape, amount and contours of Non-Resident Indian (NRI) bonds Indian banks will issue to attract dollar deposits.
 
Business Standard has learnt the Reserve Bank of India (RBI) and the government are in the final stages of discussions regarding NRI bonds. The urgency for such instruments is less now than it was in September and early October, when the rupee was in a constant free fall against the dollar.
 
The local currency touched