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NRI Deposit Inflows Fall 23% in First Quarter FY27
NRIs are Indians who live in other countries.
They can put money into special bank accounts in India.
During the first three months of FY27, new NRI deposits fell compared with the same period last year.
The inflows were about $2.78 billion, down from about $3.61 billion.
NRE deposits fell sharply, while NRO deposits increased.
FCNR(B) deposits also brought in about $1.73 billion, but the articles give different figures for the previous year.
The RBI said policy steps helped FCNR(B) inflows improve in June.
The special FCNR(B) deposit window is scheduled to close on August 31.
NRI deposit inflows fell 23.24% year-on-year to $2.775 billion in April-June 2026-27, from $3.614 billion.
Outstanding NRI deposits rose to $168.506 billion at the end of June 2026, despite weaker fresh inflows.
FCNR(B) inflows were reported at about $1.73 billion, although the articles differ on the year-ago comparison.
NRE deposit inflows dropped to $141 million, while NRO inflows increased to $903 million during the quarter.
RBI policy measures improved June FCNR(B) inflows, but the special swap window will close on August 31.
- Who
- Non-resident Indians and the Reserve Bank of India.
- What
- NRI deposit inflows declined 23.24% to approximately $2.775 billion in Q1 FY27.
- Where
- Indian NRI deposit schemes, including FCNR(B), NRE and NRO accounts.
- When
- April-June 2026-27; outstanding deposits were measured at the end of June 2026.
- Why
- The articles do not establish a definitive reason for the overall decline; the RBI attributed improved June inflows to policy measures affecting FCNR(B) deposits.
Key facts
- Q1 FY27 NRI inflows
- $2.775 billion, compared with $3.614 billion a year earlier
- Outstanding NRI deposits
- $168.506 billion at the end of June 2026
- FCNR(B) Q1 inflows
- Approximately $1.73 billion; one article compares this with $1.77 billion, while another reports $774 million a year earlier
- NRE Q1 inflows
- $141 million, compared with $1.99 billion a year earlier
- NRO Q1 inflows
- $903 million, compared with $850 million a year earlier
- FCNR(B) window
- The special swap facility for fresh FCNR(B) deposits is scheduled to close on August 31
- Post-policy FCNR(B) figure
- One article reports $65.4 billion in inflows between June 8 and August 21
Quotes
Reserve Bank of India
India’s central bank, which reported the deposit and foreign-exchange data in its Bulletin
“Net inflows under non-resident deposits improved during June as compared to the previous month, driven by an increase in Foreign Currency Non-Resident (Banks) [FCNR(B)] deposits on account of policy measures. India's foreign exchange reserves remain comfortable.”
rediff.com
Sources
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