FCNR(B)

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

Commercial banks mobilised $133 billion in FCNR(B) deposits after the RBI opened its concessional swap window in June, prompting the scheme to close a month early

RBI Deputy Governor Rohit Jain said banks have an opportunity to deploy FCNR(B) liquidity in the coming months, while maintaining healthy credit standards

Private sector lender is likely to use the funds to replace high-cost deposits and support incremental lending, with most raised in three- and five-year buckets

Inflows through RBI's concessional forex swap window topped $143.5 billion by September 18, with FCNR(B) deposits accounting for the bulk at nearly $133 billion.

S&P Global Ratings on Monday said the USD 127 billion mobilised by Indian banks through a special deposit scheme to attract US dollars is a "shot in the arm" for Indian banks as it has eased the tough funding conditions and boosted liquidity. Indian banks raised a record USD 127 billion in deposits through foreign currency non-resident bank (FCNRB) accounts between June 8 and August 31, 2026. S&P said the amount is equivalent to about 4.5 per cent of the banking system's deposit base as of March 31, 2026. "India's banks have received a shot in the arm. Favourable rates mobilised the country's diaspora to channel large deposits back home. We see this as broadly positive. "The momentum has eased the tough funding conditions, in which credit growth has exceeded deposit growth for the past four years," it added. To attract foreign capital, the Reserve Bank of India (RBI) between early June and August absorbed the full hedging cost for the principal on these 3-5 year tenor ...

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SBI Research estimates $127 billion in FCNR(B) deposits could support ₹25 trillion of additional bank credit and generate ₹5 trillion in notional profit over five years

Our currency policy is costly for people and generates small benefits for a subset

Rise due to hedging costs on interest, not absorbed by RBI

The state-owned lenders are using cheaper foreign-currency funding to meet rupee liquidity needs, extend loans and reduce dependence on high-cost deposits and borrowings

RBI Governor Sanjay Malhotra says nearly half of the $127.2 billion in FCNR(B) deposits mobilised under the concessional swap facility have a five-year tenure