IDFC FIRST Bank Mobilises ₹33,975 Cr From NRI Customers

IDFC FIRST Bank has mobilised a gross amount of ₹33,975 crore from NRI customers under the FCNR(B) swap window, highlighting the scale of foreign-currency deposits raised through this route. Key Highlights • Gross mobilisation: ₹33,975 crore from NRI customers under the FCNR(B) swap window. • FCNR(B) deposits represented approximately 11% of the bank’s total deposit base as of June 30, 2026. • FCNR(B), or Foreign Currency Non-Resident (Bank) deposits, allow NRIs to maintain term deposits in designated foreign currencies with Indian banks. Why It Matters The ₹33,975 crore mobilisation provides IDFC FIRST Bank with a sizeable pool of deposits sourced from NRI customers and adds to the diversification of its deposit base. With FCNR(B) deposits accounting for around 11% of the overall deposit base, these deposits have become a meaningful component of the bank’s funding mix. FCNR(B) deposits are denominated in foreign currencies rather than rupees, allowing NRI depositors to avoid INR exchange-rate risk on the principal and interest when measured in the deposit currency. The update highlights the growing contribution of NRI deposits to IDFC FIRST Bank’s overall deposit franchise.