IDFC FIRST Bank mobilises $3.57 bln through special FCNR swap window
This story was originally published at 16:08 IST on 3 September 2026
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--IDFC FIRST Bank mobilises $3.57 bln via RBI's FCNR (B) swap window
NEW DELHI – IDFC FIRST Bank has mobilised deposits worth $3.57 billion under the Reserve Bank of India's special swap facility for foreign currency non-resident (bank) deposits. "This represents about 11% of the deposit base as on Jun. 30, 2026," the bank said in an exchange filing Thursday.
The bank's IFSC Banking Unit at the Gujarat International Finance Tec-City facilitated $2.60 billion of lending during the period, the lender said.
As per the latest data, the FCNR(B) swap window garnered total inflows worth $127.23 billion, of which a whopping $54.38 billion was received in the scheme's final 10 days. A back-of-the-envelope calculation shows IDFC FIRST mobilised 2.8% of the total FCNR deposits under the special swap facility. This is slightly higher than the bank's aim to mobilise 2.5% of total inflows. "We are hopeful of garnering a share of about 2.5% or so," Managing Director and Chief Executive Officer V. Vaidyanathan had said on Jul. 25, in a post-earnings call with analysts.
For the June quarter, IDFC FIRST Bank reported a net profit of INR 10.75 billion on a total income of INR 133.61 billion. The bank's deposits totalled INR 3.12 trillion at the end of June, up 18% on year. Thursday, the bank's shares ended at INR 87.50 on the National Stock Exchange, up 2.8% from the previous close. End
US$1 = INR 94.49
Reported by Priyasmita Dutta
Edited by Saji George Titus
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