RBI exempts new NRE deposits of 3 years or more from CRR, SLR till Sept 30
This story was originally published at 18:46 IST on 19 June 2026
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NEW DELHI – The Reserve Bank of India exempted banks' Non-Resident (External) rupee term deposits of three years or more, mobilised from Friday to Sept. 30, from calculation of the cash reserve ratio and statutory liquidity ratio, it said in a notification. The central bank had earlier this month exempted fresh foreign currency non-resident bank deposits from the regulatory requirements as part of its measures to lure foreign capital into India.
"The exemption on reserves maintenance is available for the original deposit amounts till such time the deposits are held in the bank books," the notification said. "Any transfer from Non-Resident (Ordinary) (NRO) accounts to NRE accounts will not qualify for such exemptions."
The exemption will kick in from the fortnight starting Jul. 16, which will be based on the deposits as on Jun. 30. On Wednesday, the RBI temporarily withdrew the interest rate ceiling on Non-Resident External term deposits for three-year and higher tenors.
The moves on these deposits have been in addition to measures on foreign currency loans and the FCNR(B) deposits that the regulator had unveiled on Jun. 5. All the concessions are scheduled to end on Sept. 30. According to latest RBI data, outstanding Non-Resident External deposits were $98.56 billion at the end of March. End
US$1 = INR 94.32
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Aaryan Khanna
Edited by Rajeev Pai
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