How could NRIs benefit from RBI bearing FCNR(B) hedging costs?

The RBI on Friday announced it would bear full hedging cost on fresh three-to-five-year Foreign Currency Non-Resident (Bank) deposits mobilised by banks until September 30. "This will enable banks to increase the deposit rates for the non-resident and OCI depositors," said Governor Sanjay Malhotra. However, the actual benefit will depend on individual banks' deposit rates and terms.