RBI revises FCNR(B) inflows upwards to USD 133 billion after robust response from NRIs

The Reserve Bank of India has upwardly revised the amount mobilised under its special Foreign Currency Non-Resident (FCNR-B) deposit scheme to around USD 133 billion as of August 31, the closing date of the facility.

The latest figures are higher than the provisional data released earlier this month, which showed FCNR(B) mobilisation at USD 127.226 billion.

RBI special forex swap facility draws strong response

The RBI launched the special USD-INR forex swap facility on June 8, 2026, covering FCNR(B) deposits, Overseas Foreign Currency Borrowings (OFCBs) and External Commercial Borrowings (ECBs).


Read more - Forex inflows under RBI swap facility rise to USD 143.6 billion

The FCNR(B) window was initially scheduled to remain open until September 30. However, the central bank advanced the closing date to August 31 after receiving a strong response from the Indian diaspora.

The RBI had said the facility's objective had been achieved ahead of schedule, prompting the early closure of the FCNR(B) window.

Total forex inflows reach USD 143.596 billion

According to the latest RBI data reported by authorised dealer banks up to September 18, total inflows under the special facility stood at USD 143.596 billion.

FCNR(B) deposits accounted for USD 132.980 billion of the total inflows. OFCBs contributed USD 5.320 billion, while ECBs accounted for USD 5.296 billion.

The combined inflows from the three channels took the total under the special forex facility to USD 143.596 billion.

ECB, OFCB windows remain open until December 31

While the FCNR(B) window closed on August 31, the facility for ECBs and OFCBs will remain available until December 31, 2026.

The RBI introduced the facility to mobilise foreign currency resources through these three channels amid its efforts to support foreign exchange liquidity.

What are FCNR(B) deposits?

FCNR(B) deposits are fixed-term bank deposits held by non-resident Indians in specified foreign currencies. Both the principal and interest are repaid in the same foreign currency.

As the deposits are maintained in foreign currency, depositors are not directly exposed to fluctuations in the rupee's exchange rate against the currency in which the deposit is held.

The arrangement allows NRIs to place foreign-currency funds with Indian banks while avoiding direct rupee exchange-rate exposure on the deposit.