India outstanding NRI deposits a tad down on month at $98.40 bln in May
This story was originally published at 20:29 IST on 22 July 2026
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--RBI's May 31 net outstanding FX futures sales were $1.37 bln
--CONTEXT: RBI's Apr 30 net outstanding FX futures sales were $940 mln
--RBI: Outstanding NRI deposits at $165.96 bln May 31 vs $165.59 bln Apr 30
--RBI: Outstanding FCNR(B) deposits $34.04 bln May 31 vs $33.92 bln Apr 30
--RBI: Outstanding NRO deposits $33.53 bln May 31 vs $33.20 bln Apr 30
--RBI: Outstanding NRE deposits $98.40 bln May 31 vs $98.47 bln Apr 30
MUMBAI – Outstanding non-resident external deposits by non-resident Indians fell to $98.40 billion at the end of May from $98.47 billion reported at the end of April, according to provisional data released by the Reserve Bank of India Wednesday. The outstanding non-resident ordinary deposits were $33.53 billion as of May 31 against $33.20 billion as of Apr. 30.
The outstanding non-resident Indian deposits were modestly higher at $165.96 billion as of May 31 from $165.59 billion. Outstanding deposits in foreign currency non-resident (banks) accounts were $34.04 billion at the end of May, slightly higher than $33.92 billion a month earlier. The net outstanding Forex futures sales were $1.37 billion as of May 31 and that on Apr. 30 was at $940 million.
The central bank had last month introduced a swap facility to absorb the entire hedging cost on such deposits, but the scheme has a minimum lock-in of one year. Lenders have reported strong enquiries by customers but estimate that inflows across the banking system have added up to only about $10 billion so far. End
US$1 = INR 96.5650
Reported by Meera Nair
Edited by Deepshikha Bhardwaj
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