RBI rate cut 125 basis points

FCNR(B) accounts nosedived to $900 million in FY26 Chennai: After three consecutive years of growth, net inflows under Foreign Currency Non-Resident (Bank) [FCNR(B)] accounts nosedived to $900 million in FY26 from $7.1 billion in FY25. The 87% year-on-year decline, the sharpest since 2022-23, comes despite the rupee weakening over the past year. Meanwhile, major banks…