The banking sector expects to attract around $40–50 billion through Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits after the Reserve Bank of India’s measures announced last week to boost foreign currency inflows. According to an SBI Research Ecowrap report, fresh FCNR(B) inflows could reach $40–45 billion under the scheme. “In 2013, when the RBI introduced the FCNR(B) facility, fresh inflows of $24.5 billion were mobilised within three months. This time, the facility window is open for four months, and we believe fresh FCNR(B) deposits could amount to $40–45 billion,” the report said. Outstanding FCNR(B) deposits stood at $33.8 billion at the end of March 2026, compared with $32.8 billion a year earlier. “Banks with a larger overseas presence, such as Bank of Baroda, SBI and HDFC Bank, are naturally better positioned to benefit as they have stronger access to the NRI customer base,” a senior public sector bank official said.