GENERAL11 Sept 2026
Nearly 50% of FCNR(B) deposits under RBI swap have five-year tenure: Guv
RBI Governor Sanjay Malhotra says nearly half of the $127.2 billion in Foreign Currency Non-Resident (Bank), or FCNR(B), deposits raised under the concessional swap facility carry a five-year tenure. That means this money stays with Indian banks for longer, giving them steadier foreign currency funds and reducing pressure to replace it soon. If you hold such deposits, check your tenure and maturity terms.
Key Statutory Highlights
- RBI Governor Sanjay Malhotra says nearly half of the FCNR(B) deposits mobilised under the concessional swap facility have a five-year tenure.
- The FCNR(B) deposits mobilised under the concessional swap facility total $127.2 billion.
- FCNR(B) deposits are foreign currency deposits that Indian banks hold under this swap facility.
Actionable Advice for Taxpayers / Founders:If you or your business hold FCNR(B) deposits, review your tenure and maturity dates with your bank so you know when those funds become available.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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