Before the Deadline: The $50 Billion+ Reason to Look at FCNR

Why is everyone suddenly talking about FCNR(B) deposits?
The RBI’s special dollar-rupee swap facility triggered an extraordinary surge in foreign-currency inflows, with FCNR(B) deposits alone crossing $50 billion. The response was so strong that the RBI brought forward the closure of the special swap window for banks to August 31, 2026, instead of September 30.

For NRIs, FCNR(B) deposits allow eligible foreign currency to be held in India without taking direct rupee exchange-rate exposure on the deposit principal and interest.
But remember: the August 31 deadline relates to the RBI’s special swap facility offered to banks—not the end of FCNR(B) deposits themselves.

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