Business news · Policy & Regulation · 10 Jun 2026
The RBI introduced a special dollar-rupee swap facility for fresh FCNR(B) deposits: banks can sell the dollars they raise to the RBI and buy them back at the same exchange rate at maturity, removing their hedging cost so they can pay NRI depositors more. Eligible deposits must run three to five years with a one-year lock-in. As announced, the window covers deposits mobilised until September 30, 2026, with banks able to use the RBI facility until October 16. The scheme follows a template similar to one used in 2013.
The swap lets banks with large NRI franchises raise long-tenor dollar deposits without bearing hedging costs, adding foreign-currency liquidity and supporting the rupee without heavier direct market intervention. For lenders it is an extra funding source whose value depends on how competitively each prices its FCNR(B) rates, so the direct earnings effect is modest. Any support to the rupee and reserves also helps importers and companies with dollar debt.
Reported by Business Standard — “RBI opens special window: NRI dollar deposits could earn higher interest” ↗ on 10 Jun 2026.
NSE stocks, from the last close on or before 10 Jun 2026 to the close on 16 Oct 2026.
| Sector | Stocks | Median move | Up | vs all stocks |
|---|---|---|---|---|
| Financial Services | 125 | +0.5% | 65 of 125 | +2.0 pts |
| All tracked stocks | 800 | -1.6% | 380 of 800 | — |
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