$52300 Mn Mobilized Via FCNR(B) Deposits; Based on the encouraging response, the RBI has decided that the Swap facility for FCNR(B) deposits will be available only for deposits mobilized till August 31, 2026.
FinTech BizNews Service
Mumbai, 14 August, 2026: RBI had introduced a special USD-INR Forex Swap facility covering FCNR(B) deposits, ECBs and OFCB inflows on June 08, 2026.
The position of forex inflows as reported by Authorised Dealer Banks till August 13, 2026 under the above facility is given below:
| Type | Amount (USD million) |
| FCNR(B) Deposits | 52,300 |
| OFCBs | 2,805 |
| ECBs | 1,741 |
| Total | 56,846 |
Based on the encouraging response to the Swap Facility for FCNR(B) deposits and the resultant forex inflows, it has been decided that the Swap facility for FCNR(B) deposits will be available only for deposits mobilized till August 31, 2026. The Swaps under this facility i.e. FCNR(B) deposits, may be availed with RBI till September 11, 2026.
As per the data from AD Banks, the position of forex inflows mobilised till July 31, 2026, under the facility of concessional swaps was as follows:
| Type | Amount (USD million) |
| FCNR(B) Deposits | 36,725 |
| OFCBs | 2,575 |
| ECBs | 1,516 |
| Total | 40,816 |
The Scheme for ECBs and OFCBs will continue to be open till December 31, 2026, as hitherto.
It may be recalled that Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman had interacted on 13 JUL 2026 with Managing Directors (MDs) and Chief Executive Officers (CEOs) of Public Sector Banks (PSBs) and Public Financial Institutions (PFIs) on the Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits, External Commercial Borrowings (ECBs) and Overseas Foreign Currency Borrowings (OFCBs) swap initiatives in New Delhi.
The MDs and CEOs stated that there has been significant interest from NRIs residing in Singapore, Hong Kong, the West Asia, the United Kingdom, the United States and other overseas jurisdictions.
The MDs and CEOs outlined their plans to capitalise on the positive sentiment and accelerate deposit mobilisation during the remainder of the scheme period. They had expressed confidence that ECB mobilisations would gather stronger traction during the third quarter of current FY (October-December 2026).
