RBI clarifies on NRI deposits

 Other instructions on acceptance of deposits from NRIs relating to rate of interest and minimum and maximum period remain unchanged, the apex bank said in a release here.

 At present, the rate of interest payable on NRI deposits accepted on repatriable basis should not exceed 25 basis points above LiborSwap rates for US dollar of the corresponding maturity as in case of scheduled commercial banks, the RBI said.