RBI’s seeks daily data from banks under its limited period measures to attract foreign capital
2 min readThe RBI has instructed banks to provide daily reports on foreign currency non‑resident (bank) or FCNR (B) deposits, external commercial borrowings (ECBs) and overseas foreign currency borrowings (OFCBs) they are raising as part of its temporary measures aimed at drawing in foreign funds.
If there are no transactions on a given day, banks must file a nil statement. Moreover, information on FCNR (B) deposits, ECBs and OFCBs covering the period from June 8 up to the date these directions were issued must be included in the first report due on June 22,” the RBI stated.
Recently, banks have markedly raised the interest rates on FCNR (B) US‑dollar deposits for the 3‑ to 5‑year maturity, lifting them to roughly 6‑7 percent from the previous level of about 3 percent.
This rate increase follows the RBI’s June 5th package designed to lure dollars and steady the rupee, under which the central bank said it will cover the entire hedging expense for newly‑taken 3‑ to 5‑year FCNR (B) deposits that banks raise through 30 September 2026.
In addition, these deposits are exempt from the cash reserve ratio and statutory liquidity ratio requirements, allowing banks to lend out the full amount received.
As part of the June 5 measures aimed at drawing foreign capital, the RBI will offer a concessional foreign‑exchange swap facility until 30 September 2026 to encourage external commercial borrowings by public‑sector enterprises.
Published on June 19, 2026
