Multiple reports say the Reserve Bank of India (RBI) is seeing robust inflows under its limited period swap facility through fresh Foreign Currency Non-Resident (FCNR)(B) deposits. According to the cited figures, the total amount raised so far is about $17.4 billion, with one outlet specifically reporting $17.406 billion. The deposits are collected under the RBI’s swap arrangement, through which eligible banks mobilize FCNR(B) deposits from non-resident depositors and then participate in the central bank’s swap facility.
One report adds that individual banks have received notable portions of these fresh inflows. It cites State Bank of India as receiving around $1.90 billion and Punjab National Bank as receiving about $425 million through new FCNR(B) deposits. Together, these figures are presented as evidence of continued momentum in FCNR(B) mobilisation during the limited window of the RBI’s swap facility.
The reports focus on the cumulative inflow number and highlight that major public sector banks are among the beneficiaries, without providing additional details such as deposit tenors, pricing, or the share of inflows relative to overall banking deposits.
