The Reserve Bank of India has amended its commercial bank cash reserve ratio (CRR) and statutory liquidity ratio (SLR) directions to bring forward the end of exemptions for qualifying nonresident deposits to Aug. 31, 2026, from Sept. 30. The immediate change mirrors the adjustment made for small finance banks and shortens the period during which eligible deposits can be mobilized or renewed. The revised window runs from June 8 through Aug. 31 for fresh Foreign Currency Non-Resident (Bank) deposits with tenors of three to five years, and from June 19 through Aug. 31 for fresh Non-Resident (External) Rupee term deposits with tenors of at least three years. Deposits renewed at maturity are included.
2026-08-25Reserve Bank of India
Reserve Bank of India shortens CRR and SLR exemptions for certain non-resident deposits
The Reserve Bank of India has moved the eligibility cutoff for CRR and SLR exemptions on certain fresh non-resident deposits to August 31, 2026, from September 30, 2026. The change covers qualifying FCNR(B) and NRE term deposits, including renewals, and takes effect immediately.