Fcnr(b)

RBI swap window draws $143.5 billion; FCNR(B) deposits at $133 billion

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.

$127 bn foreign currency deposit mobilisation boost to Indian banks: S&P

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 ...

Indian Bank to explore partners for insurance, mutual fund businesses

Indian Bank aims to enter the insurance and asset management spaces through joint ventures within 1.5 to 2 years, while launching wealth management services in H2

FCNR(B) may generate ₹5 trn notional profit for banks over 5 years: SBI

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

The economics of a 'strong rupee'

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

Banks likely to see 15-20 basis points rise in FCNR(B) deposit costs

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

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

After the dollar deluge, costly choices

India must now choose among currency appreciation, inflation, bank losses, indirect public exposure and an expensive sterilisation programme

Bank of Baroda raises $8 billion via FCNR (B), exceeds initial target

The state-run lender mobilised $8 billion through the RBI's concessional swap window, exceeding its initial target of $4-5 billion, amid strong demand for FCNR(B) deposits

FCNR(B) inflows could lead to 'abnormal lending': Axis Bank MD & CEO

Axis Bank MD & CEO Amitabh Chaudhry cautioned banks over deploying excess liquidity, while flagging the possibility of an interest rate hike in the near future

Best of BS Opinion: Government must get real on spending

Today's opinions examine India's critical-minerals strategy, FSSAI's food-warning labels, Budget discipline, the RBI's dollar-rupee swaps and lessons from industrial policy

The search for durable capital

The dollar-rupee forex swap was necessary and successful. Now, it is time to weigh the pros and cons of making capital inflows more attractive

RBL Bank board approves $1 billion EMTN programme to raise overseas debt

The private lender may issue foreign-currency bonds, notes or other permitted debt securities through one or more transactions, depending on market conditions

Banks expect up to 50 bps reduction in funding costs on liquidity surge

Robust FCNR(B) inflows are reducing banks' reliance on higher-cost certificates of deposit, while supporting credit expansion and improving liquidity coverage ratios

Datanomics: Dollar inflows through swap windows far exceed 2013 levels

The move, announced on August 14, aims to cap dollar inflows that have already outpaced the $26 billion raised in 2013, when then RBI Governor Raghuram Rajan launched a similar swap scheme

RBI's dollar sales, robust swap inflows lift rupee to 10-week high

Liquidity surplus at record high of ₹9.7 trn; call rate drops below 5%

Bank stocks rise as strong FCNR (B) inflows boost liquidity outlook

RBI data showed banks mobilised $127.2 billion through FCNR(B) deposits, while analysts expect the inflows to support liquidity, credit growth and lower rates