HDFC Bank and ICICI Bank have increased FCNR(B) deposit rates to attract dollar inflows, responding to rising global benchmark rates and competitive pressures in overseas markets.
Net FCNR(B) deposit inflows fell from over $7 billion in FY25 to just $946 million in FY26
Aug 03, 2026
10:24 am
What's the storyIn a bid to draw more dollars amid rising global rates, HDFC Bank and ICICI Bank have revised their Foreign Currency Non-Resident (FCNR) deposit rates.
The move comes as part of the banks' strategy to stay competitive in the market and meet strong customer demand.
HDFC, ICICI Bank rates up for dollar deposits
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India sees dollar deposit deluge on FCNR(B) wave - The Economic Times
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