RBI data: NRI deposit inflows surge to $36.24 billion in FY27

Inflows into non-resident Indian (NRI) deposit schemes rose significantly during the first four months of FY27, reaching $36.24 billion. This represents a 678.2 per cent year-on-year increase compared to $4.66 billion during the same period in FY26, according to data from the Reserve Bank of India (RBI).

The surge was primarily driven by foreign currency non-resident (bank), or FCNR(B), deposits. This growth follows a concessional swap facility introduced by the RBI in June to attract foreign currency inflows. FCNR(B) inflows reached $34.53 billion during April-July FY27, up from $772 million in the previous year's corresponding period. The outstanding amount in FCNR(B) accounts rose to $68.28 billion by the end of July 2026.

While FCNR(B) deposits saw substantial growth, Non-Resident External (NRE) deposit inflows moderated, registering net inflows of $207 million during the period, down from $2.42 billion last year. Total outstanding NRI deposits climbed to $200.89 billion as of July 2026.