- Finance Minister and RBI outline strategies to attract foreign capital and address concerns regarding FII holdings.
- RBI policy and global factors are currently influencing yields in the Indian sovereign debt market.
- Centre allows RBI to introduce concessional forex swap window, while tax relief encourages foreign portfolio investor inflows.
- RBI provides concessional swap facility to banks as part of efforts to boost capital inflows in India.
ICICI Bank Mobilizes $18 Billion in FCNR Deposits via RBI Swap Facility
What happened
ICICI Bank mobilized approximately $18 billion in gross foreign currency non-resident, or FCNR, deposits by utilizing a swap facility provided by the Reserve Bank of India. This mobilization occurred as part of the bank's second-quarter fiscal 2027 performance, during which total deposits increased 27.1% year over year. The bank also reported a 20.1% year-over-year increase in profit after tax for the quarter.
From themarketsdaily.com
Why it matters
The Reserve Bank of India offers this concessional swap facility as part of efforts to boost capital inflows into India. ICICI Bank's successful mobilization of FCNR deposits contributes to the growth of the bank's deposit base and supports the stability of the Indian Rupee.
The Reserve Bank of India provides concessional swap facilities to banks as part of efforts to boost capital inflows in India.
From themarketsdaily.com
Who's involved
- ICICI BankMobilized $18 billion in FCNR deposits using the swap facility.
- Reserve Bank of IndiaProvided the concessional swap facility to facilitate FCNR deposits.
Keep exploring
Part of
RBI provides concessional swap facility to banks as part of efforts to boost capital inflows in India.Also in this story
- The Reserve Bank of India announced leveraging its special concessional swap window.
- RBI manages liquidity via foreign-exchange swaps.
- State Bank of India benefits from RBI's concessional swap window policy by issuing dollar-denominated bonds referencing US Treasuries.
The entities involved
-
Reserve Bank of India
central bank of India
Related events
- RBI classified IDBI Bank as a private-sector lender on October 1, 2026.
- Citizencredit Co-operative Bank Ltd. is contesting for its Board of Directors while adhering to Reserve Bank of India provisions.
- Nabard utilized the RBI swap facility and subscribed to NSDC's ZCZP issuance, participating in the listing event on NSE.
- RBI takes control of Yes Bank, SMBC buys stake in Mumbai bank, and Supreme Court quashes AT-1 bond write-off.
- The Reserve Bank of India issued a bulletin from New Delhi on October 23, 2026.