Banks told to report daily FCNR (B), ECB inflows under RBI swap facility
Mumbai, Jun 19, 2026
Banks have been asked to furnish daily details of FCNR(B) deposits, ECBs and OFCBs mobilised under the RBI's concessional swap facilities announced on June 8
The Reserve Bank of India (RBI) on Friday directed banks to submit daily details of Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits, external commercial borrowings (ECBs) and overseas foreign currency borrowings (OFCBs) mobilised under the concessional swap facilities announced by the central bank.
All authorised dealer category-I banks have been asked to furnish the data by 6 pm every day, including a nil statement on days when no transactions take place, except on Saturdays and holidays.
The RBI said details of FCNR(B) deposits, ECBs and OFCBs mobilised since June 8, 2026, when the swap facilities were announced, should be reported along with the first submission due on June 22, 2026. The information is required to be submitted separately in prescribed formats to designated RBI email addresses.
In a separate circular, the central bank said fresh Non-Resident (External) Rupee (NRE) term deposits of three years or more, including deposits renewed upon maturity, mobilised between June 19 and September 30, 2026, will be exempt from the maintenance of cash reserve ratio (CRR) and statutory liquidity ratio (SLR).
The exemption will be available on the original deposit amount for as long as the deposits remain on banks' books. However, transfers from Non-Resident Ordinary (NRO) accounts to NRE accounts will not qualify for the exemption.
On June 8, the RBI announced a US dollar-rupee forex swap facility for fresh FCNR(B) deposits with maturities of three to five years. The facility will be available to authorised dealer category-I banks for eligible FCNR(B) deposits mobilised in any freely convertible currency, with swaps undertaken in US dollars.
The RBI had also said that fresh FCNR(B) deposits with a minimum tenor of three years and a maximum tenor of five years, including deposits renewed upon maturity and mobilised until September 30, 2026, would be exempt from CRR and SLR requirements.
While FCNR(B) deposits can be mobilised in any freely convertible currency, the swap facility with the RBI will be available only in US dollars.
[The Business Standard]
