The RBI is closing the FCNR(B) deposit-mobilization window on August 31, 2026, a month ahead of the original September 30 date, after inflows reached $52.3 Bn by August 13 out of $56.85 Bn raised across the broader scheme. Banks can still complete swaps with the RBI until September 11 for deposits already mobilized. The ECB and OFCB legs of the scheme remain open till December 31, 2026. If we extrapolate data from the latest figure, the inflows would be c $70 Bn from FCNRB through Aug end. Having said this, it feels that the market was extrapolating a figure closer to $90-100 Bn through end Sep, which will not materialize now
