GENERAL2 Sept 2026
NRIs Pour Record $127 Billion Into India via FCNR Window
The RBI’s dollar swap scheme received $136.4 billion by 31 August, with FCNR-B deposits making up the bulk at $127.2 billion. NRIs took advantage of returns up to 14% while the RBI bore hedging risk. Inflows were nearly five times the 2013 level. This helps strengthen the rupee, boost forex reserves, and improve India’s balance of payments.
Key Statutory Highlights
- The RBI’s dollar swap facility received $136.4 billion total by 31 August, with FCNR-B deposits at $127.2 billion.
- This is nearly five times the inflows seen in 2013 when a similar scheme was launched.
- The scheme, open from 8 June to 31 August, let NRIs earn up to 14% returns while the RBI took the hedging risk.
Actionable Advice for Taxpayers / Founders:If you hold FCNR deposits or overseas borrowings, ask your bank whether the RBI's swap window, available until 11 September for eligible deposits, offers any worthwhile benefit.
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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