Fcnr Redemptions
$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 ...
 "$127 bn foreign currency deposit mobilisation boost to Indian banks: S&P")
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.
 "Rupee gains 69 paise, hits highest level since June on bumper FCNR inflows")
Axis Bank matches peers with 6% FCNR(B) rate under RBI's spl deposit scheme
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
 "Axis Bank matches peers with 6% FCNR(B) rate under RBI's spl deposit scheme")
Dollar draw: Domestic banks raise their FCNR (B) deposit rates sharply
Major lenders have increased FCNR(B) deposit rates after the RBI offered to absorb hedging costs, a move aimed at attracting foreign currency inflows from NRIs
 "Dollar draw: Domestic banks raise their FCNR (B) deposit rates sharply")
Inflows in NRI deposits increases nearly 10% in FY25, shows RBI data
NRI deposits in Indian banks grew 9.9% in FY25 with FCNR(B), NRE and NRO deposits all rising; total outstanding touched $164.7 billion by March-end, RBI data showed
 "Inflows in NRI deposits increases nearly 10% in FY25, shows RBI data")
FCNR redemptions won't be disruptive, say bankers
There's surplus liquidity and RBI, with plentiful forex reserves, is ready to pump whatever extra is needed
 "FCNR redemptions won't be disruptive, say bankers")