The latest RBI directive last week has resulted in deregulation of the interest on NRE deposits.
Today, if you invest in Rs.1cr or more , you get an tax free return of 9% Below 1Cr deposit, I think it is 7% tax free. Damn good prospect. I do not know how long it is going to last. The downside of it is the likely depreciation further of the INR... Maybe worth putting some money around the Rs. 55 mark and top at 60 if it does get there... long term, if you believe in the India growth story, there is no choice but for the INR to appreciate... so it all boils down to whether you buy the India story fully or not....
No comments:
Post a Comment