The RBI's concessional foreign exchange swap facility has attracted $40.816 billion in overseas currency inflows since June. FCNR (B) deposits account for most of the mobilisation, while SBI Research expects total inflows under the scheme to rise significantly before it closes
SBI Research said FCNR-B inflows of $13-14 billion could raise bank deposit growth to 15% in FY27, narrowing the credit-deposit gap. Despite strong lending growth, Indian banks remain well-capitalised with low NPAs, supported by consumption, infrastructure and investment demand
