FCNR-B: RBI FAQs Supportive, But Some Rate Hikes Needed to Lift Mobilisation

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FCNR-B: RBI FAQs Supportive, But Some Rate Hikes Needed to Lift Mobilisation

India | Financials EquityJuneResearch23, 2026

FCNR-B: RBI FAQs Supportive, But Some Rate Link to our recent report:

Hikes Needed to Lift Mobilisation Feedback from Banks and Depositors;

Select Rate Revision May Be Needed

RBI FAQs on FCNR-B addresses 2 key issues: (1) permitting foreign branch

leveraging, which can reduce friction & counterparty risks, & (2) allowing FCNR-B: Clarity on Foreign Branch

Leveraging Key; Watch out for FAQ from

different rates based on tenor & value. While these are supportive to FCNR- RBI

B mobilisation, as stated in recent report (link), we feel banks are offering

lower rates/ IRRs, which can limit mobilisation. We expect FCNR-B rate FCNR-B Deposits: What Do Banks' New

Rates Tell?

hikes, esp. for large-ticket deposits for 3yr, & will watch for rate changes by

banks. Terms of FCNR-B and ECB Allow Leverage

That Can Boost Forex Inflows

Summarising RBI FAQs on Swap Facility for FCNR-B Deposits & FCNR-B Announced, But Clarity on

ECBs Leverage Key to Large-scale Inflows

1. Can an Indian Bank extend loans, or issue SBLC, against FCNR(B) deposit placed with Exhibit 1 - At current deposit rates, IRRs are

that particular Indian Bank? Yes. Indian banks (including their overseas branches) are lower & we expect hike in rates to lift FCNR-B

permitted to extend loans to a non-resident, or issue a SBLC in favour of overseas lenders, mobilisation

against FCNR(B) deposits mobilised, under the swap facility. 8.00 FCNR-B deposit interest rates for 3yr maturity

2. Can a bank offer loan overseas to the account holder and can the lending institution 6.007.00 6.00 6.00 6.00 6.15 5.50 5.50 6.20 6.40 6.50 6.25 6.25 6.60 6.75 7.00 7.10 7.10 7.13 7.13