The Reserve Bank of India has amended its cash reserve ratio and statutory liquidity ratio directions to exempt banks from CRR and SLR requirements on fresh Foreign Currency Non-Resident Bank US dollar deposits with maturities of three to five years that are mobilised between June 8, 2026 and September 30, 2026. The exemption also covers deposits renewed at maturity and follows the Governor's earlier statement on a US Dollar-Rupee swap facility for these fresh funds. For CRR, the exemption applies from the reporting fortnight beginning July 1, 2026, based on net demand and time liabilities as on June 15, 2026, and continues in subsequent fortnights. It is available for the original deposit amounts for as long as the deposits remain on banks' books. The amendment took effect immediately.
Reserve Bank of India2026-06-08
Reserve Bank of India exempts fresh three to five year Foreign Currency Non-Resident Bank US dollar deposits mobilised through September 30 2026 from CRR and SLR
The Reserve Bank of India has amended its cash reserve ratio and statutory liquidity ratio directions to exempt banks from CRR and SLR requirements on fresh Foreign Currency Non-Resident Bank US dollar deposits with three- to five-year maturities mobilised between June 8 and September 30, 2026, including renewals at maturity. For CRR, the exemption applies from the reporting fortnight beginning July 1, 2026, based on net demand and time liabilities as on June 15, 2026, and remains available for the original deposit amounts while they stay on banks’ books.