FCNR(B) collection of Rs 33,975 crore represented 11% of IDFC First Bank’s deposit base as on 30 June 2026; bank's IFSC Banking Unit facilitated around $2.60 bn of lending during the period.
RBI’s forex swap window helped banks to attract $127.23 bn of FCNR(B) deposits but economists said it could come with a hefty $10.6 bn bill for the central bank.
RBL Bank leverages promoter, Emirates NBD and their subsidiaries/affiliates, to get a 2.7% share of FCNR(B) deposits mobilisation; it accounts for 26% of its total deposits and 37% of its term deposits.
State Bank of India, HDFC Bank, Punjab National Bank, ICICI Bank, Axis Bank and Kotak Mahindra Bank, among others, have sharply reduced interest rates on long-tenure FCNR(B) deposits after closure of RBI’s swap window.
ICICI Bank said loans provided by its international branches and subsidiaries against FCNR(B) deposits are $9 bn and SBLCs worth about $3.63 bn are issued; $3.55 bn is also raised via US dollar-denominated bonds.
Banks garner $136.38 bn through RBI’s three swap schemes. FCNR(B) deposits almost double in final 10 days. How will this massive influx play out in terms of liquidity management, CD market, loan growth and margins?
Bank credit to industry grows 20% YoY in July while services is up 23%, RBI’s latest sectoral deployment data shows; total bank credit outstanding is at Rs 221 lakh crore as on 31 July.
Bank credit growth accelerates to 16.5% YoY as at end-June 2026 from 9.9% a year ago; weighted average lending rate eases by 45 basis points to 9.26%.
Bank deposits see 11.5% YoY growth as at quarter ended June; share of term deposits bearing interest rate of less than 7% increases to more than two thirds of total term deposits.
NCLT’s 5-member special bench stays earlier order of smaller bench; issues notices to parties in personal insolvency case and directs Subhash Chandra not to alienate his properties, either directly or indirectly.
Canara Bank, Union Bank of India and LIC Housing Finance will soon move NCLAT; Essel Group founder Subhash Chandra had got NCLT nod for Rs 6.25 cr repayment plan against admitted creditor claims of Rs 22,006 cr.
NCLT approves haircut of nearly 99.97% in media baron Subhash Chandra’s personal insolvency resolution case; dissenting creditors likely to move the NCLAT.
Number of credit cards rises to 122.86 mn in July from 121.6 mn in June; spends cross Rs 2 trillion for third consecutive month as HDFC Bank maintains pole position with SBI behind.
IDFC First Bank prices the five-year senior notes at 5.8% coupon; maiden overseas $600 mn bond issuance was priced less than a week back.
Banks add $13.10 bn to FCNR(B) deposits collection box in just 8 days; total mobilisation under RBI’s three concessional swap facilities stand at $72.85 bn until 21 August.
