Banks’ share of India’s FCNR-B scheme inflows is shifting, with brokerage research pointing to different winners among private and foreign lenders. The FCNR-B mobilisation totals about $136.4 billion (₹12.96 lakh crore), according to the cited reports, which compare how much of those inflows each bank attracts relative to its usual deposit base.
Across brokerages, ICICI Bank and RBL Bank are described as gaining more than expected from the FCNR-B mobilisation compared with their normal deposit base, suggesting stronger incremental benefit. Foreign banks are also highlighted: HSBC and Standard Chartered are reported to gain market share among foreign lenders. The reports also note relative underperformance by HDFC Bank, which is characterised as lagging versus peers on this metric.
The outlets summarise the same underlying brokerage analyses but differ in emphasis—some focus more on domestic bank rankings while others spotlight foreign lenders’ share gains. Overall, the coverage reflects a consensus on the broad pattern of which institutions are seen as benefiting more from FCNR-B inflows relative to baseline deposit growth, rather than on any single driver such as pricing or customer behavior.
