RBI revises FCNR(B) inflows upwards to USD 133 billion after robust response from NRIs

The Reserve Bank of India has increased the amount mobilised under its FCNR(B) deposit scheme to approximately USD 133 billion as of August 31, 2026, following a strong response from Non-Resident Indians (NRIs), according to the latest figures released. This revision exceeds the provisional data previously disclosed, which reported mobilisation at USD 127.226 billion.

The Reserve Bank of India (RBI) introduced the special USD-INR forex swap facility on June 8, 2026, to encompass FCNR(B) deposits, Overseas Foreign Currency Borrowings (OFCBs), and External Commercial Borrowings (ECBs). The facility's closing date was advanced from its initial September 30 deadline to August 31, 2026, due to the enthusiastic reaction from the Indian diaspora.

The FCNR(B) window was designed to close on August 31, 2026, following the RBI's assessment that the facility's objectives had been accomplished ahead of schedule. Total forex inflows under the special facility reached USD 143.596 billion as of September 18, 2026, with FCNR(B) deposits accounting for USD 132.980 billion, OFCBs contributing USD 5.320 billion, and ECBs contributing USD 5.296 billion.

Despite the closure of the FCNR(B) window, ECB and OFCB facilities will remain available until December 31, 2026. The RBI implemented the facility to mobilise foreign currency resources through these three channels as part of its strategy to bolster foreign exchange liquidity.