The Reserve Bank of India (RBI) has closed its swap facility for foreign currency non-resident (bank) deposits one month early, effective August 31, after banks mobilised $52.3 billion by August 13. Rediff.com…
SBI Research expects FCNR(B) deposits to reach $65-70 billion by the scheme's end, and total mobilisation including OFCBs and ECBs could hit $80-85 billion. The first $20 billion took 38 days to…
Bank deposit growth in India remains resilient even as inflation-adjusted returns have fallen sharply, according to SBI Research. Deposit growth rose to 13.3% in June 2026 from 12.3% in January, while the…
Banks are offering non-resident Indians leverage of up to 29 times their own capital for investments in FCNR(B) deposits under a special Reserve Bank of India framework, ETBFSI reports. Most banks offer…
The Reserve Bank of India will close its special FCNR(B) deposit window on August 31, a month earlier than planned, after banks mobilised $52.3 billion by August 13. Banks can swap these…
India's foreign exchange reserves surged by $14.14 billion to $707 billion for the week ended August 7, marking one of the biggest weekly expansions, the Reserve Bank said on Friday. Foreign currency…
The Reserve Bank of India has brought forward the closure of its special FCNR(B) deposit swap facility to August 31 after banks raised $52.3 billion (over Rs 4.9 lakh crore) in just…
The Reserve Bank of India on Friday exempted loans against fresh FCNR(B) and NRE term deposits from adjusted net bank credit (ANBC) calculations for priority sector lending targets. The exemption applies to…
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…
