FCNR(B)

Inflows into NRI deposits fell nearly 16% in Apr-Dec 2025 to $11.2 bn, led by a sharp drop in FCNR(B) flows, though outstandings across NRE and NRO accounts continued to rise

Bond yield hardens on rate status quo

An FCNR (B) account lets customers maintain a fixed deposit in India in freely convertible foreign currencies for a tenure ranging from one to five years

The measures have brought in $1.5-2 billion so far; response to relaxed FX norms tepid as US rates higher, RBI not acting as counterparty

The deposits stood at $20.85 bn in December 2016 from $44.11 bn at the end of September 2016

Historically, it is seen that a volatile currency market is contagious and transfers the volatility to equity markets