NRIs’ FCNR(B) Balance Hits $68.3 B by End‑July 2026

By the close of July 2026, the outstanding balance in FCNR(B) accounts surged to $68.28 billion, up from $55.71 billion at the end of June. This growth reflects the sustained appeal of FCNR(B) instruments among overseas Indians seeking a secure, interest‑bearing avenue for foreign currency holdings.

The RBI’s policy framework, which includes the discounted swap facility and liberalized foreign exchange rules, has created a favourable environment for such deposits, contributing significantly to the overall rise in NRI deposit balances for the fiscal year.