The lending figures show strong demand for borrowing backed by foreign-currency deposits. FCNR(B) accounts let non-resident Indians hold deposits in currencies such as dollars and euros, earn interest and avoid exposure to a fall in the rupee’s value. The report does not specify the year covered by these figures.

According to RBI data cited in the report, inflows through special FCNR(B) windows exceeded $127.2 billion. These deposits provide a funding base for lending. The report also puts potential lending capacity above $110 billion and points to the RBI’s concessional swap window as support for banks offering these arrangements.

A key feature is borrowing of up to nine times the initial deposit. An NRI placing $1 million, for instance, could receive a $9 million loan from an overseas bank branch or subsidiary. Reinvesting that borrowing can increase potential returns, but the interest charged on the loan must be deducted when working out the net earnings.

The units also disbursed $11.62 billion in external commercial borrowings during April–August. These are foreign-currency loans raised by Indian companies from overseas sources. Alongside deposit-backed lending, this activity highlights GIFT City’s growing role in foreign-currency financing.