Mumbai, July 21 (IANS) Mobilisation of Foreign Currency Non-Resident (Bank) or FCNR(B) deposits could reach up to $70 billion, significantly easing domestic liquidity conditions and reducing near-term pressure on Indian banks’ balance sheets, according to global brokerages.Brokerages including Jefferies, UBS and Macquarie said the initial response to the Reserve Bank of India’s FCNR(B)-related measures has been stronger than expected, with early inflows pointing to growing confidence among overs…
Latest FCNR(B) News & Updates
New Delhi, July 20 (IANS) The Reserve Bank of India’s swap facility for offering concessional swaps for fresh foreign currency non-resident bank deposits [FCNR(B)] deposits, External Commercial Borrowings (ECBs) and Overseas Foreign Currency Borrowings (OFCBs), has succeeded in attracting forex inflows to the tune of $20,718 million as on July 17, 2026, according to the Central Bank statement issued on Monday.The amount has flowed in since the scheme was operationalised on June 8 this year. Th…
New Delhi, July 20 (IANS) Foreign portfolio investment (FPI) flows into India are expected for a rebound in FY27 marking an improvement from the $16 billion outflow recorded in FY26, a report said on Monday.The net FDI is expected to rise from $7 billion in FY26 to $15 billion in FY27, supported by healthy growth in gross inflows and an expected moderation in growth of repatriation outflows, the report from CareEdge Ratings said.Gross foreign direct investment (FDI) rose 18 per cent year‑on‑…
New Delhi, July 12 (IANS) India has received $7 billion from foreign institutional investors (FIIs) after the government announced measures last month to attract more foreign funds and steady the volatility in the rupee, according to an SBI Research report. The Indian rupee has appreciated around 2.2 per cent till the end of June, a low of Rs 96.8 vis-a-vis the US dollar on May 20, 2026.Last month, the government and the Reserve Bank of India introduced a set of measures aimed at boosting foreig…
Mumbai, June 27 (IANS) The Indian equity benchmarks posted a third consecutive week of gains, over sharp correction in crude oil prices to pre‑Iran war levels and improved traffic at the Strait of Hormuz.Nifty added 0.18 per cent during the week and edged up 0.14 per cent on the last trading day to reach 24,056. At close, Sensex was up 109 points or 0.14 per cent at 77,100. It added 0.39 per cent during the week.The domestic markets navigated a week of mixed signals with notable resilience, ev…
New Delhi, June 12 (IANS) The Reserve Bank of India’s (RBI) latest measures to boost foreign currency inflows are expected to strengthen the country’s forex reserves, improve banking system liquidity and support the rupee, with total inflows estimated at $40–50 billion in FY27, a report showed on Friday.As per an analysis by Motilal Oswal Financial Services Ltd (MOFSL), banks could benefit from a reduction of around 200–250 basis points in borrowing costs through the ECB route under the …
Mumbai, June 11 (IANS) India’s top financial banking services providers — State Bank of India (SBI), Bank of India (BoI), and Yes Bank — have sharply raised interest rates on Foreign Currency Non-Resident (Bank) or FCNR(B) deposits following the Reserve Bank of India’s recent measures to attract foreign currency inflows, with lenders now offering Non-Resident Indians (NRIs) returns of up to 6.6 per cent on US dollar deposits.The banks have revised their FCNR(B) deposit rates, a significant inc…
New Delhi, June 5 (IANS) The Indian rupee appreciated sharply against the US dollar on Friday after the Reserve Bank of India eased investment norms for foreign portfolio investors (FPIs) and announced measures aimed at improving capital flows, boosting investor sentiment.The domestic currency strengthened by 50 paise to 95.24 against the US dollar in intraday trade after opening at 95.72 in the interbank foreign exchange market. The currency had settled at 95.74 against the dollar in the previo…