Foreign Currency
Banks scramble for foreign loans after FCNR deluge
Indian banks are pursuing overseas funding through OFCBs to replace short-term financing used for FCNR(B) schemes
4 min read9 Sep 2026Bank of Baroda says recent NMC settlement based on commercial considerations, anticipation of legal overhang
Bank of Baroda's $600 million settlement of the NMC Health litigation wiped out most of its Q1 profit, which fell 72% to ₹1,207 crore. The bank held its FY27 credit growth guidance steady despite 17.4% loan growth and rising FCNR inflows.
4 min read24 Jul 2026RBI to meet bank EDs on Wednesday ahead of policy, with focus on FCNR mobilisation
RBI will meet bank executive directors on Wednesday to push faster FCNR(B) deposit mobilisation, days after the government and central bank separately pressed bank chiefs on the same.
4 min read14 Jul 2026In FCNR race, banks answer only the biggest depositors
Banks are selectively choosing FCNR(B) deposits from NRIs with over $1 million to benefit from rising overseas funding costs. Smaller leveraged deposits are becoming unworkable. This situation could undermine RBI's goal of attracting $30-40 billion in inflows.
4 min read13 Jul 2026Indian Bank targets $2 billion mobilization through FCNR(B) deposits: MD & CEO Binod Kumar
Indian Bank plans to raise $2 billion through RBI's FCNR(B) swap window by September. So far, it has mobilized $140 million, with MD Binod Kumar stating that pricing, not the availability of dollars, is the main challenge.
2 min read12 Jul 2026Finance ministry calls lenders for meeting on 13 July to review, step up foreign currency mobilization
The government wants to boost the inflow of funds through foreign currency non-resident (bank) deposits, overseas foreign currency borrowings and external commercial borrowings.
3 min read10 Jul 2026Do you have to pay tax on your NRE deposit interest? Key rules NRIs should know
NRE accounts allow NRIs to deposit foreign income in Indian rupees, facilitating free repatriation. Interest on NRE fixed deposits is exempt from Indian income tax, enhancing their appeal.
2 min read8 Jun 2026Centre’s Big Move To Attract Foreign Capital: No LTCG Tax on Overseas Investors in G-Secs
In a move aimed at boosting foreign capital inflows, the Indian government has removed long-term capital gains tax on overseas investments in government securities. The decision comes as foreign investors pull billions out of equities amid global uncertainty, putting pressure on the rupee. The Reserve Bank of India has also expanded access to bonds under the Fully Accessible Route, allowing unrestricted foreign investment in select securities. The coordinated push signals a strategic shift toward attracting stable, long-term capital into India’s financial markets.
5 Jun 2026How FCNR accounts offer safe, stable returns for NRIs — key features explained
FCNR accounts allow NRIs to invest in foreign currencies, offering tax-exempt interest in India. Loans against these deposits are available, but restrictions apply. Interest rates are competitive, and deposits are fully repatriable, making them a secure investment option.
3 min read30 Mar 2026RBI proposes sweeping reforms to ease India Inc.'s foreign borrowing
RBI's plan to increase the ECB limit and widen access is a positive development for Indian companies looking to raise funds overseas at cheaper rates.
2 min read3 Oct 2025Wait for it…
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