India NRI deposits rise Jun; FCNR(B) sluggish in first month of RBI scheme
This story was originally published at 20:11 IST on 25 August 2026
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--RBI: Outstanding NRI deposits at $168.51 bln Jun 30 vs $165.96 bln May 31
--RBI: Outstanding FCNR(B) deposits $35.49 bln Jun 30 vs $34.04 bln May 31
--RBI: Outstanding NRE deposits $98.76 bln Jun 30 vs $98.40 bln May 31
NEW DELHI – Outstanding deposits by non-resident Indians rose to $168.51 billion at the end of June from $165.96 billion as on May 31, according to provisional data released by the Reserve Bank of India Tuesday. Foreign currency non-resident (banks) deposits grew only at a sluggish pace in the first month of the central bank's scheme to attract foreign capital, rising to $35.49 billion on Jun. 30 from $34.04 billion at May-end.
FCNR(B) deposits have been in focus after the central bank's scheme covering all hedging costs for such deposits in three- to five-year tenures raised since Jun. 5. Earlier this month, the RBI curtailed the end date for mobilisation under the special scheme to Aug. 31 from Sept. 30 at the initial announcement. Latest data showed FCNR(B) deposits under the special scheme saw inflows of $65.40 billion between Jun. 8 and Friday.
It has also provided other relaxations for these deposits, as well as exempting cash reserve ratio and statutory liquidity ratio maintenance on non-resident (external) rupee term deposits raised since Jun. 19. Meanwhile, non-resident (external) rupee deposits inched up to $98.76 billion by the end of June from $98.40 billion as on May 31. Outstanding non-resident ordinary deposits also rose to $34.26 billion as of Jun. 30 from $33.53 billion at the end of the previous month.
"Net inflows under non-resident deposits improved during June 2026 as compared with the previous month, driven by an increase in FCNR(B) deposits on account of recent policy measures to attract foreign capital," RBI staff said in the 'State of the Economy' article in its monthly bulletin for August. End
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Reported by Aaryan Khanna
Edited by Deepshikha Bhardwaj
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