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Bank of India raised $2.4 bn FCNR-B deposits, Indian Bank $2.3 bn

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

Nearly 50% FCNR(B) deposits are for 5-year tenure: RBI Governor Malhotra

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

India FX deposits to help earn more revenue: RBI Governor Sanjay Malhotra

The comments come as the RBI deals with the fallout from record foreign-exchange inflows

Banks will take 3-4 months to deploy FCNR(B) flows, says C S Setty

CS Setty said banks would deploy the liquidity gradually, while also calling for lower upfront costs to enable large-scale adoption of agentic AI in Indian banking

Rupee gains 69 paise, hits highest level since June on bumper FCNR inflows

The domestic currency touched an intraday high of 94.27 in morning deals, its highest level since June 29, according to Bloomberg data.

ICICI Bank mobilises $17.88 billion via FCNR (B) under RBI swap facility

The private sector lender deployed around $9 billion as loans and issued standby letters of credit worth $3.63 billion against deposits mobilised under the facility

FCNR (B) haul soars to $127 bn on final sprint exceeding mkt expectations

Banks mobilised $127.2 billion through the FCNR(B) swap window by August 31, taking total forex inflows under the RBI facility to $136.4 billion

$10.5 bn FCNR (B) swap cost over 5 years is 1.45% of forex kitty: Report

Cost is unlikely to have constrained RBI's decision to close the swap window early; reserves could rise to $800 billion over five years, the report said

Central Bank of India mobilises $250 million under FCNR (B) window: CEO

State-owned lender Central Bank of India has mobilised USD 250 million under the FCNR-B window introduced by the Reserve Bank of India (RBI), a senior bank official said on Wednesday. Central Bank of India has surpassed the USD 100 million target set for July, garnering USD 250 million. "We have surpassed the July target set internally, and mobilised USD 250 million under FCNR - B," Kalyan Kumar, Managing Director and Chief Executive Officer of Central Bank of India, said on the sidelines of the annual FIBAC event here. He said that the Central Bank of India has raised funds through its GIFT City branch and has set a target of USD 400 million by September end, the closure date fixed by the RBI for the special swap window. During the post-June quarter earnings conference, Kumar had said that the Bank expects to accumulate a total of USD 400 million. A senior executive of the Bank had earlier said that it is looking to raise the deposits from the Middle East and Australian markets.

CD issuances plunge in July as mobilisation of FCNR(B) deposits spikes

Banks sharply cut certificate of deposit issuances in July as strong FCNR(B) inflows under the RBI's swap scheme eased liquidity pressures and lowered funding costs

HDFC Bank raises 3-5 year FCNR(B) dollar deposit rate by 25 bps to 6.25%

The private sector lender raised its dollar deposit rate by 25 basis points as banks compete for non-resident funds before the RBI's concessional swap window closes

Margins have bottomed out; NIM seen at 2.5-2.6%, says Canara Bank CEO

Canara Bank expects to raise up to $2.5 billion through FCNR(B) deposits and overseas borrowings as it guides for stable margins and healthy credit growth

Indian banks have raised $32 billion under dollar-inflow schemes: RBI Guv

Most of the $32 billion raised so far has come from the foreign currency non-resident deposit scheme, Malhotra said

RBI likely used dollar deposit surge to cut record FX forward book

The RBI's package of measures aimed at ‌supporting the rupee attracted more than $20 bn as of July 17, with more than four-fifths coming from foreign currency non-resident deposits mobilised by banks

New CEO will ensure continuity of strategy at South Indian Bank: Seshadri

Seshadri said as the bank is not offering leverage, their proposition is attractive to smaller depositors and customers in geographies where leveraged products do not enjoy tax advantage

India, UAE central banks meet to discuss foreign-currency deposit issues

The RBI and UAE central bank are discussing regulatory hurdles as India seeks to attract more foreign-currency deposits from NRIs to strengthen forex reserves

FM Sitharaman to meet PSB chiefs to review foreign currency deposit drive

Finance Minister Nirmala Sitharaman will meet the heads of public sector banks (PSBs) on Monday to review the progress of the foreign currency deposit mobilisation campaign being undertaken by the lenders. In a bid to attract foreign currency deposits by Non-Resident Indians, Overseas Citizens of India, and Persons of Indian Origin, the Reserve Bank of India last month withdrew, till September 30, interest rate ceiling on fresh Foreign Currency Non-Resident (Bank) deposits of 3-5 years' maturity. The move came at a time when FCNR(B) deposit inflows weakened sharply, with net inflows dropping to just USD 946 million in FY26 from USD 7.1 billion in FY25. The Finance Minister will chair the meeting of chiefs of PSBs and financial institutions, including IDBI Bank, on mobilisation of FCNR(B) deposits, Overseas Foreign Currency Bonds and External Commercial Borrowings on July 13, sources said. Under the new arrangement, the RBI is offering a concessional foreign exchange swap facility

Mobilisation test: Foreign banks' leverage key to FCNR (B) inflows

Foreign banks' India exposure limits may shape FCNR(B) inflows as Indian lenders tweak deposit rates and tenors to attract NRI funds under the RBI scheme

Banks bet on Gulf, Singapore and Hong Kong to drive FCNR (B) flows

Banks expect the RBI's FCNR(B) deposit scheme to attract major inflows from the Gulf, Singapore and Hong Kong, with mobilisation expected to accelerate in August

HDFC Bank clears governance hurdle for chief executive officer renewal

HDFC Bank's legal review finds no evidence behind governance allegations, clearing path for leadership stability, chairman appointment and CEO term extension