05-August-2026
Markets and Finance
 
RBI swap facility triggers dollar rush as FCNR(B) deposits surge 86%, cross $60 billion in under 60 days
04-Aug-2026

The Foreign Currency Non-Resident (Bank) deposits in the Indian banking system have witnessed a huge surge in under 60 days. This comes as the Reserve Bank of India’s concessional swap facility, introduced on June 8, has helped push the FCNR(B) outstanding balance to nearly double between June 5 and July 30, 2026. The FCNR(B) outstanding balance rose from $32.5 billion (USD 32,558.5 million) to $60.5 billion (USD 60,548.7 million) — an 86% jump in under two months.

News Source:- https://www.financialexpress.com/business/news/rbis-fcnrb-push-doubles-nri-dollar-deposits-in-less-than-60-days/4309532/
 
 
 

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