India's bank deposits hit ₹269.4 trillion by July 31, 2026
Business
India's banks are seeing a huge jump in deposits, reaching ₹269.4 trillion by July 31, 2026.
That's an increase of $115.25 billion in just six weeks, pretty wild, considering deposits had actually dropped earlier this year as the Reserve Bank of India (RBI) tried to boost foreign currency inflows.
RBI's FCNR scheme brought nearly $41bn
A big reason for the spike is the RBI's FCNR scheme, which brought in nearly $41 billion.
Other moves like discounted swap windows and more dollar-to-rupee conversions also helped pile up cash across banks.
ICICI Securities: deposits could boost lending
This deposit growth could help banks lend more and keep things balanced between loans and deposits, a good sign for economic stability, according to ICICI Securities Primary Dealership.