Archive · 4 Sep 2026
RBI Measures Seen Supporting India’s FY27 Balance-of-Payments Surplus
The Reserve Bank of India introduced measures to bring more foreign money into India.
These measures attracted $136.4 billion in total inflows.
Most of the money came from deposits made by Indians living abroad.
India’s foreign-exchange reserves increased to a record $729.3 billion.
The Bank of Baroda says this could help India manage unexpected problems from abroad.
It expects India to have a balance-of-payments surplus of $65–75 billion in FY27.
However, higher oil prices and foreign investors selling Indian assets remain risks.
The report also expects the current-account deficit to stay around 1–1.25% of GDP.
Bank of Baroda projects India’s FY27 balance-of-payments surplus at $65–75 billion.
The Reserve Bank of India’s measures mobilised $136.4 billion in foreign inflows.
FCNR(B) deposits contributed $127.2 billion, more than 90% of total inflows.
India’s foreign-exchange reserves rose to a record $729.3 billion.
The report forecasts a current-account deficit of 1–1.25% of GDP amid external risks.
- Who
- The Reserve Bank of India, the Indian government, the Bank of Baroda, banks, and foreign depositors including non-resident Indians.
- What
- RBI measures attracted foreign inflows and are expected to support India’s external balance and foreign-exchange reserves.
- When
- The measures and forecasts concern FY27; the report also cites RBI liquidity operations from August 6 to September 2.
- Where
- India and its foreign-exchange and financial markets.
- Why
- The measures were introduced amid oil-price pressures, foreign portfolio outflows, and concerns about external stability linked to India’s dependence on imported oil.
- Projected FY27 balance-of-payments surplus
- $65–75 billion
- Total foreign inflows mobilised
- $136.4 billion
- FCNR(B) deposit inflows
- $127.2 billion, or more than 90% of total inflows
- Foreign-exchange reserves
- A record $729.3 billion
- Projected current-account deficit
- About 1–1.25% of GDP
- VRRR auctions announced
- Totalling Rs 53.5 lakh crore between August 6 and September 2
- Foreign-currency asset increase
- $47.9 billion