The flow of money from overseas Indians into non-resident Indian (NRI) deposit schemes dropped 23.24 per cent to $2.78 billion during April-June of FY27, from $3.61 billion in the corresponding period of FY26, according to Reserve Bank of India (RBI) data.
The total outstanding NRI deposits stood at $168.51 billion at the end of June 2026. Outstanding NRI deposits were $165.96 billion in May 2026 and $168.33 billion in June 2025.
In its Bulletin, the RBI said, “Net inflows under non-resident deposits improved during June as compared to the previous month, driven by an increase in Foreign Currency Non-Resident (Banks) [FCNR(B)] deposits on account of policy measures. India’s foreign exchange reserves remain comfortable.”
NRI deposit schemes include foreign currency non-resident (bank) (FCNR(B)) deposits, non-resident external (NRE) deposits and non-resident ordinary (NRO) deposits.
During the April-June period of FY27, inflows into FCNR(B) deposits stood at $1.73 billion, compared with $1.77 billion in the corresponding period a year ago.
In June, the outstanding amount in FCNR(B) accounts stood at $35.49 billion, compared with $35.85 billion in June 2025. An FCNR(B) account allows customers to 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 protects funds against currency fluctuations during the deposit tenure.
Following the policy measures announced by the Reserve Bank on non-resident deposits and external commercial borrowings (ECBs) on June 5, 2026, there was a surge in FCNR(B) deposit inflows amounting to $65.4 billion during June 8-August 21, 2026. During the period, overseas foreign currency borrowings (OFCBs) and ECBs recorded inflows of $4.9 billion and $2.6 billion, respectively.
NRE deposits recorded inflows of $141 million during the April-June period of FY27, compared with $1.99 billion in the corresponding period a year ago. Outstanding NRE deposits stood at $98.76 billion in June 2026, against $98.59 billion in June 2025.
NRO deposits recorded inflows of $903 million in April-June 2026, compared with $850 million in the corresponding period a year ago. The total outstanding amount in NRO deposits stood at $34.26 billion in June 2026, compared with $31.99 billion a year earlier. An NRO account is a rupee-denominated bank account for NRIs.
