Archive · 28 Sep 2026
NRI Deposit Inflows Surge Nearly Sevenfold to $36.24 Billion
Non-resident Indians sent much more money into Indian bank deposit schemes during the first four months of FY27.
The inflows reached $36.24 billion, compared with $4.66 billion a year earlier.
Most of the increase came from FCNR(B) deposits, which are held in foreign currencies.
The Reserve Bank of India introduced a special swap facility in June to encourage these deposits.
FCNR(B) inflows rose to $34.53 billion from $772 million a year earlier.
The total amount held in FCNR(B) accounts reached $68.28 billion by the end of July 2026.
All NRI deposits together amounted to $200.89 billion.
However, inflows into NRE deposits became much weaker.
Inflows into NRI deposit schemes rose 678.2% year-on-year to $36.24 billion during April-July of FY27.
FCNR(B) deposits accounted for $34.53 billion of the inflows, up from $772 million a year earlier.
The increase followed the Reserve Bank of India’s concessional swap facility introduced in June.
Outstanding FCNR(B) deposits reached $68.28 billion at the end of July 2026.
Total outstanding NRI deposits rose to $200.89 billion in July 2026, while NRE inflows moderated sharply.
- Who
- Non-resident Indians and Indian banks, with the Reserve Bank of India influencing the inflows.
- What
- Inflows into NRI deposit schemes increased nearly sevenfold to $36.24 billion during April-July of FY27.
- When
- April-July of FY27; outstanding balances were reported for July 2026, with the swap facility introduced in June.
- Where
- India’s banking system.
- Why
- The increase was primarily linked to the Reserve Bank of India’s concessional swap facility designed to attract foreign-currency inflows.
- NRI deposit inflows
- $36.24 billion during April-July FY27
- Year-on-year increase
- 678.2%, compared with $4.66 billion in April-July FY26
- FCNR(B) inflows
- $34.53 billion, compared with $772 million a year earlier
- Outstanding FCNR(B) deposits
- $68.28 billion at the end of July 2026
- Total outstanding NRI deposits
- $200.89 billion in July 2026
- RBI swap facility
- Introduced in June to attract foreign-currency inflows
- NRI deposit types
- FCNR(B), NRE and NRO deposits