New Delhi: Investments by overseas Indians in non-resident Indian (NRI) deposit schemes declined by 25.86% to approximately $10.61 billion during April–January 2026, compared to $14.31 billion in the corresponding period last year, according to data released by the Reserve Bank of India and reported by Business Standard.
As of end-January 2026, total outstanding NRI deposits stood at $165.78 billion, up from $161.21 billion in January 2025 but lower than $169.27 billion recorded in December 2025.
NRI deposit schemes comprise foreign currency non-resident (FCNR), non-resident external (NRE), and non-resident ordinary (NRO) deposits.
The report noted a sharp fall in FCNR (bank) or FCNR (B) deposit inflows, which dropped to $0.94 billion during April–January 2026, compared to $7.02 billion in the same period a year earlier.
However, the total outstanding balance in FCNR (B) accounts rose to $33.75 billion as of January 2026, from $32.75 billion in January 2025. FCNR (B) accounts allow depositors to hold fixed deposits in freely convertible foreign currencies for tenures ranging from one to five years, offering protection against currency fluctuations during the deposit period.