Stories
RBI Ups FCNR(B) Deposit Inflows to $133 Billion, Scheme Closes Early
- •The Reserve Bank of India (RBI) has revised foreign currency deposit inflows under the special Foreign Currency Non-Resident (FCNR-B) scheme upwards to $133 billion by August 31.
- •The FCNR-B deposit scheme, part of a larger forex swap facility launched on June 8, 2026, saw strong demand from the Indian diaspora.
- •Initially set to close on September 30, the FCNR-B window was advanced to August 31 due to overwhelming response, achieving its objective ahead of schedule.
- •Total inflows across FCNR-B, Overseas Foreign Currency Borrowings (OFCBs), and External Commercial Borrowings (ECBs) reached $143.596 billion by September 18.
- •FCNR-B deposits allow non-resident Indians to place foreign currency funds with Indian banks, with principal and interest repaid in the same currency, mitigating rupee exchange-rate risk.
Key Questions Answered
The Reserve Bank of India revised upwards the collections under the special Foreign Currency Non-Resident (FCNR-B) deposit scheme to $133 billion (specifically $132.980 billion reported up to September 18) following a strong response from the Indian diaspora.
The RBI closed the FCNR-B window a month earlier than originally planned—advancing the closing date from September 30 to August 31, 2026—because the scheme experienced a very strong response from the Indian diaspora and achieved its objective ahead of schedule.
According to the RBI data reported by authorized dealer banks up to September 18, 2026, total inflows reached $143.596 billion, which includes $132.980 billion from FCNR-B deposits, $5.320 billion from OFCBs, and $5.296 billion from ECBs.
