NRI deposit inflows fall sharply in FY26 even as total outstanding rises, reflecting shifting overseas investment trends and currency preferences.
The flow of money from overseas Indians into non-resident Indian (NRI) deposit schemes dropped by 24.17 per cent to nearly $11.04 billion between April–February 2026, from $14.56 billion during the same period in 2025, according to Reserve Bank of India (RBI) data.
The total outstanding NRI deposits stood at $167.58 billion as of the end of February 2026. The outstanding NRI deposits were $160.34 billion in February 2025 and $165.87 billion in January 2026.
NRI deposit schemes include foreign currency non-resident (FCNR) deposits, non-resident external (NRE) deposits, and non-resident ordinary (NRO) deposits.
During the April–February 2026 period, flows into FCNR (bank) or FCNR (B) deposits dropped to $0.91 billion, compared to $6.76 billion in the same period last year.
In February, the outstanding amount in FCNR(B) accounts rose to $33.72 billion. An FCNR(B) account lets customers maintain a fixed deposit in India in freely convertible foreign currencies for a tenure ranging from one to five years. Since the account is maintained in foreign currency, it secures funds against currency fluctuations during the deposit’s tenure. The outstanding amount stood at $32.49 billion in February 2025.
First Published: Apr 23 2026 | 7:15 PM IST