India Jul NRI deposits at $200.90 bln; FCNR(B) up 92% on mo amid RBI scheme
This story was originally published at 11:54 IST on 26 September 2026
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MUMBAI – Outstanding deposits by non-resident Indians rose to $200.90 billion at the end of July from $168.51 billion Jun. 30, according to provisional data released by the Reserve Bank of India in its September monthly bulletin Friday. Foreign currency non-resident (banks) deposits rose over 92% on month to $68.28 billion as of Jul. 31 from $35.49 billion at June-end.
The central bank in June announced a slew of measures to attract foreign capital. Among the measures was a facility to cover the full hedging costs for banks raising fresh three- to five-year FCNR(B) deposits. The swap facility was available for deposits mobilised till Aug. 31. Total FCNR(B) deposits mobilised between Jun. 8 and Aug. 31 under the special swap window were $132.98 billion.
"Net inflows under non-resident deposits rose sharply in July 2026, reflecting an increase in FCNR(B) deposits on account of recent policy measures," RBI said in the 'State of the Economy' article in its monthly bulletin. In July, net inflows under non-resident deposits rose to $33.5 billion from $1.0 billion a year ago due to net inflows of $32.8 billion in FCNR(B) deposits. "Various capital flow measures announced in June supported the accumulation of foreign exchange reserves, which rose to $765.9 billion as on September 18, 2026," it said.
Meanwhile, non-resident (external) rupee deposits fell to $98.02 billion by the end of July, slightly down from $98.76 billion as of Jun. 30. Outstanding non-resident ordinary deposits rose to $34.59 billion in July from $34.26 billion as of Jun. 30. End
US$1 = INR 95.81
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by J. Navya Sruthi
Edited by Akul Nishant Akhoury
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