RBI Exempts Fresh FCNR(B) Deposits from CRR and SLR Requirements

The Reserve Bank of India (RBI) has issued the Second Amendment Directions, 2026, providing regulatory relief for banks mobilizing fresh Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits. Fresh FCNR(B) deposits with tenors ranging from 3 to 5 years, mobilized between June 8, 2026, and September 30, 2026, will be exempt from maintaining Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR). The move complements RBI’s newly announced USD-INR swap facility and aims to encourage foreign currency inflows, strengthen forex reserves, and improve banking system liquidity. The amendment comes into force with immediate effect.