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FCNR DEPOSIT SCHEME
Numbers Boost: FCNR-B inflows help banks cut expensive bulk depositsIndian banks are actively reducing costly bulk deposits after strong foreign currency inflows. This strategy helps optimize funding costs a...- At $729 billion, India's forex kitty a recordIndia's foreign exchange reserves achieved a historic high of $729.3 billion by August 21, fueled by substantial NRI deposits under a speci...
- India Ratings revises FY27 bank credit growth upward to 15%; provisioning for expected loss may hit profitIndia Ratings forecasts bank credit growth at fifteen percent for fiscal year twenty twenty-seven. Lenders will face profitability challeng...
- Rupee dips, reversing intraday gains, as importer dollar demand dominatesThe Indian rupee declined on Thursday, reversing early gains against the dollar. Importer dollar demand increased, and month-end pressures ...
- NRI deposit inflows dip 23%; FCNR draws 124% moreNon-resident Indian deposits saw a significant year-on-year decrease in the first quarter. However, overall outstanding NRI deposits experi...
- India raises $73 bn in forex inflows at record paceIndia has mobilised $73 billion in foreign exchange inflows in less than 11 weeks, surpassing the scale and pace of the RBI’s 2013 FCNR(B) ...
- Full flow FCNR deposits could hit $100 billion, beat estimatesStrong FCNR(B) deposit inflows have led analysts to raise their estimates for dollar mobilisation through the scheme. Jefferies now expects...
- RBI's concessional swap scheme mobilises $73 bn in less than 11 weeksThe RBI’s special forex swap facility has mobilised $73 billion in foreign exchange inflows as of August 21, with FCNR(B) deposits accounti...
- Gold loan portfolio to surpass Rs 1.5 lakh crore by FY27-end: Indian Bank MDIndian Bank expects its gold loan book to surpass Rs 1.5 lakh crore this financial year. This growth will be driven by increased loan volum...
- India gets $72.8 billion in dollar inflows under RBI swap facilityIndia has received $72.8 billion in dollar inflows through FCNR(B) deposits, external commercial borrowings and overseas foreign currency b...
- FCNR deposits emerge as banks’ new FY27 growth lever: ReportIndian banks anticipate stronger net interest income and earnings growth in FY27. This outlook is supported by robust foreign currency depo...
- India's foreign exchange reserves up almost $50 billion since JulyIndia's foreign exchange reserves rose over $9 billion in the week ending August 14. Foreign currency assets and gold reserves significantl...
- India's forex reserves soar by $9.9 billion to $716.90 billion as on August 14India's foreign exchange reserves jumped $9.905 billion to $716.90 billion in the week ended August 14, RBI data showed. Reserves had risen...
- RBI's early FCNR(B) deposit scheme closure 'data-driven' or a policy U-turn? Governor Malhotra explainsRBI Governor Sanjay Malhotra defended the FCNR(B) deposit scheme's early closure. He stated the decision was data-driven and a prudent cali...
- FCNR(B) swap cost unlikely to have driven RBI’s early closure: SBI Research reportSBI Research said the cost of the RBI’s FCNR(B) swap facility is unlikely to have driven its early closure, estimating cumulative hedging c...
- ET Analysis: RBI’s FCNR U-turn dents policy certaintyThe RBI’s early closure of its special FCNR(B) deposit swap window has raised concerns over policy certainty. Banks had mobilised $52.3 bil...
- Forex reserves soar to $707 billion, highest so far in current fiscalIndia's foreign exchange reserves saw a notable increase, rising by $14.1 billion to hit a significant $707 billion. This boost included a ...
- RBI to close FCNR(B) swaps a month earlier due to gushThe Reserve Bank of India has moved the FCNR(B) deposit deadline to August 31 in response to better-than-expected foreign currency inflows....
- RBI shortens FCNR (B) deposit swap window to Aug 31The Reserve Bank of India has shortened the swap facility window for FCNR(B) deposits. This decision comes after observing higher-than-expe...
- RBI to close FCNR(B) forex swap facility early after strong dollar inflowThe Reserve Bank of India has closed its special forex swap facility early. This facility attracted significant foreign exchange inflows to...
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