India's FCNR(B) scheme attracts $41B aims $100B by September

Business Aug 07, 2026

India's central bank introduced the FCNR(B) deposit scheme in early June to attract foreign currency from NRIs and help the rupee stay strong.

So far, it's brought in $41 billion and aims to reach up to $100 billion by September.

It's a big move to keep India's currency steady and bring more money into the country.

Rupee rebounds as bonds draw $8.7B

Thanks to this scheme, the rupee has bounced back after hitting a rough patch earlier this year.

Plus, new tax-free government bonds have attracted $8.7 billion from foreign investors.

Domestic bank lending is also growing fast, up 17% to 18% year over year, which means more support for businesses, farms, and shoppers across India.