Corrected: BUZZ-India's banks gain as RBI dollar scheme inflows top $136 billion

RBL Bank

03/09/2026 05:22

Corrects headline to say RBI dollar scheme inflows top $136 billion, not FCNR(B) inflows
** India's banks .NSEBANK, financials .NIFTYFIN, private banks .NIFPVTBNK, state-owned lenders .NIFTYPSU rise 1%-1.3%, leading benchmark Nifty 50 .NSEI 0.4% higher
** Uptick after the FCNR(B) scheme drew more than $60 billion of deposits in its final 10 days
** Programme mobilised $127.2 billion in FCNR(B) deposits by Aug. 31, while OFCBs and ECBs added $9.2 billion, taking total inflows under the broader package to $136.4 billion
** ICICI Bank ICBK.NS rises 2%; ICICI Bank "punched above its weight" with FCNR(B) mobilisation of $17.88 billion, Citi says, adding that it delivers a tangible 2.5%-3% uplift in absolute net interest income in FY2027
** RBL Bank RATB.NS gains 2.6%, with Citi terming the $3.4 billion it mobilised under RBI swap facility an "outsized haul for a mid-sized bank, that reshapes the earnings narrative"
** Across banks, the highest mobilisation is by HSBC, State Bank of India SBI.NS and ICICI Bank ICBK.NS, says Jefferies
** Stronger-than-expected inflows should boost system liquidity ahead of the festive season, potentially ease rates and support NBFCs and smaller private banks, adds Jefferies




 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))