NRI Deposit

Large banks may offer up to 9x leverage against FCNR(B) deposits, potentially helping NRIs earn double-digit returns under the RBI's swap scheme

RBI's push to attract FCNR deposits may ease external pressures, but improving conditions raise questions over the costs, risks and necessity of the incentives

While FCNR(B) deposit inflows fell sharply from a year earlier, overall inflows into non-resident deposit schemes edged up, supported by growth in NRE deposits

Private-sector lender increases FCNR(B) deposit rates following RBI's forex swap facility and temporary removal of the interest rate ceiling on eligible deposits

The state-owned lender has increased rates across key maturity buckets, offering a peak return of 6.25 per cent on five-year FCNR(B) deposits

Indian banks are targeting overseas nationals with high-yield dollar deposits to attract over $50 billion and bolster forex reserves amid rupee pressure

Brokerages estimate leveraged FCNR(B) deposits could generate annual returns of up to 27 per cent for NRIs while helping banks attract $30-60 billion in fresh foreign currency inflows

Axis Bank has increased FCNR(B) deposit rates by up to 305 basis points, joining several lenders seeking to attract foreign currency inflows under the RBI's special swap facility

The facility will allow banks to raise fresh three- to five-year FCNR(B) deposits at lower hedging cost, helping support foreign inflows and the rupee

RBI to bear hedging costs on FCNR(B) deposits till Sept 2026, aiming to boost NRI inflows and support the rupee amid weak capital flows

Inflows into India's non-resident deposit schemes moderated in FY26, with FCNR(B) deposits witnessing a sharp slowdown, RBI data showed

South Indian Bank MD & CEO PR Seshadri says low Stage-2 assets will help contain additional provisioning under ECL norms while the bank targets stronger margins and steady credit growth

The total outstanding NRI deposits stood at $167.58 billion as of the end of February 2026

NRI deposit inflows declined 25.86 per cent to $10.61 billion in April-January 2026, mainly due to a sharp fall in FCNR deposits, even as NRE and NRO inflows rose

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

Budget 2026-27 has introduced a significant tax incentive for non-resident Indian (NRI) professionals who come to India to work under government-notified schemes.

Inflows into NRI deposit schemes declined sharply during April-November 2025, dragged down by a steep fall in FCNR(B) deposits, even as NRE and NRO accounts recorded modest growth, RBI data showed

NRI deposit inflows moderated to $8.3 billion in April-October FY26, mainly due to a sharp drop in FCNR (B) inflows, even as NRE deposits recorded higher inflows, RBI data showed

This decline was primarily because of reduced inflows into Foreign Currency Non-Resident (Bank) [FCNR (B)] deposits

NRI deposit inflows fell to $1.9 billion in April-May 2025 from $2.8 billion a year earlier, with declines across FCNR, NRE and NRO categories, RBI data showed