Section 13 in The Foreign Exchange Management (Deposit) Regulations, 2000
13. Other features. - (a) Reserve Bank will not provide exchange rate guarantee to authorised dealers for deposits of any maturity in these accounts.
(b)Lending of resources mobilised by authorised dealers under these accounts are not subject to any interest rate stipulations.Note. - Premature withdrawal of FCNR(B) deposits for the purpose of opening NRNR Rupee Deposit accounts with an authorised dealer other than the one with whom the account FCNR(B) is maintained will attract penalty as per the directions issued by Reserve Bank from time to time.
