Support Telecomtalk
Highlights
- FCNR(B) deposits contributed USD 65.40 billion to the total inflows.
- The 2026 mobilisation has surpassed the USD 26 billion raised under the RBI’s 2013 FCNR(B) swap scheme.
- RBI has advanced the closure of the FCNR(B) window to August 31 from September 30.
Andrew Bonwick
Vice President of Product Development at Relm Insurance
Madhav Sheth
CEO of Ai+ Smartphone
Stephen Rose
CEO Render Networks
India’s banking sector has mobilised USD 73 billion in foreign exchange inflows in less than 11 weeks under the Reserve Bank of India’s special USD-INR forex swap facility, the Ministry of Finance said. The facility, launched on June 8, 2026, covers FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings.
- Make Telecom Talk My Trusted Source
Also Read: NPAs Are at the Lowest Ever Indian Banking Has Seen: Finance Minister Nirmala Sitharaman
Scheme Surpasses 2013 FCNR(B) Swap Programme
FCNR(B) deposits accounted for USD 65.40 billion of the total inflows, reflecting a strong response from non-resident Indians and their continued confidence in the Indian banking system. The mobilisation has emerged as one of India’s fastest and largest foreign-currency fundraising exercises, surpassing the RBI’s 2013 FCNR(B) swap programme, which raised about USD 26 billion over nearly three months.
“The scheme’s success underscores the strength of the Indian diaspora, who have reposed faith in the Indian banking system and have once again demonstrated their enduring economic and emotional stake in India’s growth story, channeling savings into FCNR(B) deposits at a pace that has consistently exceeded expectations,” the Finance Ministry said on Monday, August 24, 2026.
RBI Advances Closure of FCNR(B) Window
According to the Ministry, the strong response has also enabled the RBI to advance the closure of the FCNR(B) window to August 31 from the earlier deadline of September 30, after the scheme achieved its objective ahead of schedule.
