Archive · 3 Sep 2026
RBL Bank Raises $3.4 Billion Through FCNR(B) Window
RBL Bank collected $3.4 billion through a special deposit programme.
The programme involved FCNR(B) deposits, which are foreign-currency deposits made by non-resident Indians.
RBL Bank also gave about $1.08 billion in loans using these deposits.
Its promoter, Emirates NBD, and related companies helped attract the money.
RBL Bank offered interest rates between 6.25% and 6.35% for deposits lasting three to five years.
RBI said banks together collected $127.22 billion through FCNR(B) deposits by August 31.
All foreign-currency inflows combined reached $136.4 billion.
ICICI Bank reported collecting about $17.88 billion through the same broad effort.
RBL Bank mobilised $3.40 billion, or Rs 32,472 crore, through the RBI’s FCNR(B) swap facility by August 31.
The bank’s international banking unit provided about $1.08 billion in loans against these deposits.
RBL Bank said Emirates NBD and its subsidiaries or affiliates supported the mobilisation through the UAE-India corridor.
RBL Bank offered 6.25%-6.35% interest on three- to five-year FCNR(B) deposits.
RBI data showed total FCNR(B) mobilisation reached $127.22 billion, while overall foreign-currency mobilisation stood at $136.4 billion.
- Who
- RBL Bank, the Reserve Bank of India, Emirates NBD and other participating banks, including ICICI Bank.
- What
- Banks mobilised foreign-currency funds through the RBI’s special FCNR(B) swap facility, with RBL Bank raising $3.4 billion.
- When
- The figures were reported by August 31; the RBI announcement was made on a Wednesday.
- Where
- The mobilisation involved India’s banking system and support linked to the UAE-India corridor.
- Why
- The funds were raised through the RBI’s special foreign-exchange swap window and FCNR(B) deposits.
- RBL Bank mobilisation
- $3.40 billion (Rs 32,472 crore) by August 31
- RBL Bank loans
- About $1.08 billion (Rs 10,309 crore) provided by its international banking unit against the deposits
- RBL Bank deposit rate
- 6.25%-6.35% for three- to five-year FCNR(B) deposits
- Total FCNR(B) mobilisation
- $127.22 billion by August 31, according to provisional RBI data
- Total foreign-currency mobilisation
- $136.4 billion
- ICICI Bank mobilisation
- About $17.88 billion (Rs 1.70 lakh crore)
- Other inflows
- OFCB inflows rose from $4.9 billion to $5.26 billion, while ECB-related inflows rose from $2.6 billion to $3.89 billion