The Reserve Bank of India (RBI) has released the final figures for its special FCNR(B) deposit scheme. Between June 8 and August 31, 2026, banks collected $132.980 billion through Foreign Currency Non-Resident (Bank) deposits. This final number is about $5.5 billion higher than the first estimate of $127.226 billion. The extra amount was added after all bank reports were finalized and checked by the central bank.

This special scheme was a limited-period offer that used a dollar-rupee swap facility. The RBI launched this to attract more foreign money into India. During this 85-day window, banks offered very high interest rates of around 6% to 7% on these deposits. These rates were much better than usual, making it a great deal for Non-Resident Indians (NRIs) to park their dollars in Indian banks.

Bankers also used another method called Overseas Foreign Currency Borrowing (OFCB) to get more funds. Banks borrowed money from abroad and gave it to NRI customers as loans. The customers then put that money back into FCNR(B) accounts. This helped banks reach a total of $5.320 billion through this specific route by mid-September. However, now that the special scheme has ended, these borrowings have slowed down significantly.

Public sector companies also played a big role by bringing in money through External Commercial Borrowings (ECB). This is when Indian companies borrow money from foreign lenders. These companies raised $5.296 billion by September 18, showing that state-owned firms are still successfully getting foreign capital. When we add FCNR(B), OFCB, and ECB together, the total foreign money flowing into India reached $143.596 billion.

RBI Governor Sanjay Malhotra started these measures on June 5, 2026. The goal was to protect the Indian Rupee from losing value. At that time, oil prices were going up and foreign investors were taking their money out of the Indian stock market. The Governor said these steps would help India’s balance of payments (the record of all money entering and leaving the country) and keep the economy stable.

For bank officers, this news shows how policy changes can lead to a massive rush of deposits. While the collection phase was busy, the focus will now shift to managing these high-cost deposits. Customers who invested during this window will enjoy high returns until their deposits mature. Bankers should now watch for new RBI steps to promote exports and keep capital coming into the country.