RBI Data Shows 24% Drop in NRI Deposit Inflows to $11.04 Billion in April-February 2026

Inward Remittances into Non-Resident Indian (NRI) Deposit Schemes recorded a decline during April-February 2026.  

Data released by the Reserve Bank of India showed total inflows at $11.04 billion, down from $14.56 billion in the corresponding period of the previous year. This is indicative of a contraction of 24.17% on a year-on-year basis. 

Deposit Base Remains Elevated 

The overall stock of NRI deposits, however, continued to remain at a higher level. Outstanding balances stood at $167.58 billion as of end-February 2026, compared with $160.34 billion a year earlier.  

On a month-on-month basis, this was an increase from $165.87 billion recorded at the end of January 2026. 

FCNR(B) Inflows See Sharp Reduction 

The moderation in inflows was led by a fall in foreign currency non-resident (bank) [FCNR(B)] deposits. Net inflows into this segment declined to $0.91 billion during April-February 2026, against $6.76 billion in the same period last year.  

This is a significant drop in fresh deposits under the foreign currency category. 

FCNR(B) Balances Rise Marginally 

At the same time, the outstanding amount in FCNR(B) accounts rose to $33.72 billion at the end of February 2026, up from $32.49 billion in February 2025.  

These deposits are maintained in freely convertible foreign currencies with maturities ranging from 1 to 5 years, allowing depositors to avoid currency risk during the tenure. 

Composition of NRI Deposits 

NRI deposit schemes broadly include FCNR(B), non-resident external (NRE), and non-resident ordinary (NRO) accounts.  

These instruments enable overseas Indians to hold funds in India either in foreign currency or in rupee-denominated form, depending on the account type. 

Read More: RBI Hits 11-Month High with $7.4 Billion Net Dollar Purchase in February! 

Conclusion 

The RBI data indicates a year-on-year decline in fresh inflows into NRI deposit schemes, largely due to lower contributions to FCNR(B) accounts, while the total deposit base showed a modest increase over the same period. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.   
 
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.