# FCNR(B) inflows may reach $100 billion by September: Jefferies 2026-08-07T07:41:41+00:00 | Governance | Indian Opinion Desk Corroboration: 1 independent outlet India’s FCNR(B) deposit inflows have reached about $41 billion and could rise to $80-100 billion by September 30, Jefferies said, according to The Economic Times. The RBI introduced concessional swaps in June to attract non-resident Indian deposits and support the rupee. The currency had touched 96.96 to the dollar in May and was trading at 95.17 when the report was prepared. State Bank of India Chairman Challa Sreenivasulu Setty said SBI had mobilised nearly $6 billion and could reach about $10 billion by September-end. He said the deposits would mainly replace bulk and wholesale funding, rather than sharply expand lending. SBI does not plan to raise FCNR(B) rates and retains its net interest margin guidance of around 3%. ## Coverage - economictimes.indiatimes.com - bfsi.economictimes.indiatimes.com Tags: FCNR(B), foreign investment, NRI deposits, RBI, rupee Canonical: https://indianopinion.org/rbi-deposit-scheme-may-draw-up-to-100-billion-by-september/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/rbi-deposit-scheme-may-draw-up-to-100-billion-by-september/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes.