FCNR(B)

RBI data shows bank advances against fixed deposits rose 53.3 per cent to Rs 2.17 trillion in September 2026, while overall bank credit expanded 19.4 per cent year-on-year

Banks face higher costs to hedge interest payments on FCNR(B) deposits as RBI's new forex derivative rules require a 20 per cent reserve, while dollar-rupee forward premiums rise

Uday Kotak warns India must prepare to repay $160-170 billion in FCNR(B) deposits and interest over three to five years, urging structural reforms to address macroeconomic risks

At the BFSI Insight Summit 2026, PSB chiefs said attractive yields, leverage and RBI support helped banks mobilise a record $127 billion in FCNR(B) deposits, easing funding pressure

At the Business Standard BFSI Insight Summit 2026, Uday Kotak said the FCNR(B) scheme had given India three to five years to strengthen its macroeconomic and financial position

At Business Standard's BFSI Summit, public sector bank chiefs discussed how RBI's swap support, leverage and overseas outreach helped mobilise FCNR(B) deposits, highlighting need for risk management

The sharp rise followed the RBI's introduction of a concessional foreign exchange swap facility in June to encourage banks to mobilise foreign currency deposits

India's forex reserves dropped by USD 5.011 billion to USD 721.016 billion during the week ended October 16, the Reserve Bank of India said on Friday. In the previous reporting week, the kitty declined by USD 8.578 billion to USD 726.027 billion. The reserves touched an all-time high of USD 785.706 billion for the week ended September 4, driven by heavy greenback inflow as part of a special concessional swap for deposits from the diaspora through which banks raised a record nearly USD 133 billion but have been on a declining trend ever since. Experts attribute the sharp decline in the kitty to deployment of FCNR(B) resources and currency defence put up by the RBI through dollar sales. For the week ended October 16, foreign currency assets, a major component of reserves, decreased by USD 5.758 billion to USD 591.847 billion, according to the data released by the Reserve Bank of India (RBI). Expressed in dollar terms, the foreign currency assets include effects of appreciation or ..

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Stronger margin trends lift state-owned lenders, but analysts see limited scope for a significant narrowing of the valuation gap

HDFC Bank, ICICI Bank and Axis Bank raised over $127 bn through the FCNR(B) deposit scheme, with analysts expecting margins to improve from October to December

There is a meaningful risk that inflation and input costs become bigger concerns in Q2 than they were in Q1, said Dhananjay Sinha of Systematix Group.

In contrast, India's second-largest private-sector bank, ICICI Bank, mobilised $17.88 billion in FCNR(B) deposits and raised $3.55 billion through dollar-denominated bonds

Period-end deposits rose 4.9 per cent sequentially and nearly 19 per cent YoY to ₹33.27 trillion, while advances grew 16.3 per cent year-on-year

Deposits increased to ₹1.56 trillion and gross advances to ₹1.43 trillion, while the CASA ratio declined to 27.2 per cent despite growth in low-cost deposits

Public and private sector banks reported strong deposit growth in Q2FY27, aided by FCNR(B) mobilisation under the RBI's concessional swap window

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RBI's net short dollar position in the forward book surged to $200.06 billion at August-end as FCNR(B) flows boosted longer-tenure forward positions

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FCNR(B) deposit flows surged to $34.53 billion in April-July FY27, while outward remittances under the LRS rose 4.7 per cent year-on-year to $9.37 billion