CRR Hike May be RBI’S Cleanest Option to Drain Liquidity – I-Sec PD

ICICI Securities PD says a 1 percentage point CRR hike with short-end OMO sales may be RBI’s cleanest way to drain the FCNR-driven liquidity surge.

BasisPoint Insight

September 5, 2026 at 7:51 AM IST

istock.com

Equities Slip as Crude Rises; Banks, Realty Stocks Gain, Rupee Strengthens

An end-of-day recap of all that transpired in the Indian markets, highlighting the major price movements and the factors driving them

Tresha Dias

September 3, 2026 at 1:17 PM IST

Istock.com

RBI Should Allow Early Exit to Make Its Term VRRR Auctions Effective

Giving banks a controlled exit option could turn poorly subscribed term VRRRs into a more effective instrument for absorbing surplus liquidity.

Richard Fargose

September 3, 2026 at 12:56 PM IST

RBI May Shift From VRRRs to Short-Term Tools as FX Swap Inflows Flood System

Record FCNR inflows have left the RBI with a new problem: how to drain a ₹9.70 trillion liquidity surplus without signalling tighter policy.

Richard Fargose

September 3, 2026 at 10:08 AM IST

istock.com

The Burden of a Successful FCNR Scheme

Record FCNR inflows strengthen India’s external buffer, but leave the RBI with a liquidity, currency and balance-sheet burden.

Yield Scribe

September 3, 2026 at 8:53 AM IST

istock.com

The Hidden Cost of RBI’s $127 Billion FCNR Success

India's $127 billion FCNR swap window looks like a triumph; but who's really paying the hidden cost of that dollar rush?

R. Gurumurthy

September 3, 2026 at 4:16 AM IST

iStock.com

Total FCNR(B) Inflows Under RBI Swap Window $127 Bln, Nearly Half of It in Last 10 days

BasisPoint Insight

September 2, 2026 at 1:22 PM IST

Sources Say FCNR(B) Inflows Under Swap Window Topped $100 Billion: Financial Express

BasisPoint Insight

September 2, 2026 at 2:44 AM IST

RBI FX Reserves Hit Record High of $729.33 Billion on August 21

BasisPoint Insight

August 28, 2026 at 12:34 PM IST

India’s $73 Billion Forex Buffer is Insurance, Not Triumph

Concessional swaps can buy valuable protection, but dressing liability-funded reserves as proof of economic strength risks eroding credibility.

BasisPoint Groupthink

August 25, 2026 at 7:36 AM IST

Finance Ministry

RBI Swap Facility Draws $72.85 Billion Forex Inflows as of August 21

BasisPoint Insight

August 22, 2026 at 8:32 AM IST

FCNR(B): Why the Benefits Outweighed the Costs

The FCNR(B) scheme may have cost the RBI, but it also eased liquidity and funding pressures, supported the rupee and attracted dollar inflows.

Gaura Sen Gupta

August 21, 2026 at 2:07 PM IST

RBI Governor Says Early FCNR(B) Closure Was calibration, Not U-turn: Financial Express

BasisPoint Insight

August 20, 2026 at 2:55 AM IST

RBI’s Abrupt FCNR(B) Exit Sends Conflicting Signals to Rupee Markets

RBI’s abrupt FCNR(B) closure could cap liquidity and reserve gains, while exposing why record inflows have failed to strengthen the Indian rupee.

Apoorva Javadekar

August 19, 2026 at 4:01 AM IST

Market Wrap

Equities Extend Losing Run as Oil Nears $90; Rupee, Bonds Weaken on RBI Move

An end-of-day recap of all that transpired in the Indian markets, highlighting the major price movements and the factors driving them

Dehuti Jani

August 17, 2026 at 12:57 PM IST

RBI’s FCNR Reversal Puts Its Guidance Under Scrutiny

The RBI may have had sound reasons to close the FCNR(B) swap window early, but backtracking on a clear assurance undermines its policy guidance.

R. Gurumurthy

August 17, 2026 at 3:48 AM IST

Istock.com

RBI advances FCNR(B) swap window closure to August 31

BasisPoint Insight

August 14, 2026 at 12:46 PM IST

The RBI Can Defend the Rupee, but Only the Government Can Strengthen It

The RBI can buy time for the rupee, but lasting strength depends on productive investment, export capacity and a more competitive economy.

Arvind Mayaram

August 6, 2026 at 2:50 AM IST

RBI Has Bought Time; India Must Now Earn Its Dollars

The RBI has bought stability with borrowed dollars. India must use this costly reprieve to boost growth, raise exports, retain capital, and restore investor confidence.

Kalyan Ram

August 4, 2026 at 4:27 AM IST

iStock.com

Dollar Lifeline, Future Bill: The RBI’s Funding Trade-off

The RBI’s overseas funding window could steady the rupee today, but its real test lies years ahead, when swaps unwind and redemption risks come due.

Sachchidanand Shukla

July 20, 2026 at 4:12 AM IST

istock.com

The Rupee’s Weakness May Be the RBI’s Game Plan

The rupee’s slide may reflect more than oil and a stronger dollar; it could also suit the RBI’s risk calculus while the FCNR window remains open.

Yield Scribe

July 20, 2026 at 2:48 AM IST

The Ghost of FCNR(A) Was Invited Through the Swap Window

FCNR(A) has not returned in law. But the RBI has revived its most dangerous instinct: putting private currency risk on the public balance sheet.

Kalyan Ram

July 17, 2026 at 6:25 AM IST

The Rupee Needs More Than RBI Intervention

Why the 2013 stabilisation strategy succeeded where the current response is struggling

Arvind Mayaram

July 16, 2026 at 3:19 AM IST

RBI Built a Dollar Bridge, Banks Are Turning It into a Toll Road

RBI has subsidised the FCNR(B) currency hedge, but costly dollar leverage and bank friction may blunt the scheme’s promised dollar-inflow surge.

V Thiagarajan

July 14, 2026 at 7:03 AM IST

Istock.com

The Central Banking Desk

Fed Hike Case Faces PCE Test

Daily insights on the decisions, signals and risks shaping central-bank policy across the world’s major economies.

BasisPoint Insight

June 25, 2026 at 3:22 AM IST

US Federal Reserve

Credit Surge Tests Banks’ Liquidity Defences and ALM Discipline

Rapid credit expansion is outpacing deposit growth, forcing banks to rethink liquidity management and build more durable ALM strategies.

K. Srinivasa Rao

June 17, 2026 at 4:15 AM IST

iStock.com

Why This Rupee Episode Is Different

The rupee’s decline is the mildest in decades. The bigger challenge is converting temporary inflows into lasting external stability.

Sameer Narang

June 15, 2026 at 4:55 AM IST

RBI’s FCNR Swap Faces a Basel Reality Check

RBI’s FCNR swap may echo 2013, but Basel rules, dollar-funding stress and forward liabilities make this a harder trade.

V Thiagarajan

June 15, 2026 at 4:20 AM IST

Wladyslaw/ Via Wikicommon

Has The Market Overpriced India's Rate Risk?

Markets may have mistaken a funding and BoP problem for an interest-rate problem. RBI's latest measures could ease pressure on OIS, yields and the rupee.

Yield Scribe

June 9, 2026 at 7:46 AM IST

iStock.com

Opinion

FX Measures Could Attract Up to $75 Billion of Debt Inflows

FCNR deposits, ECB incentives and foreign investment reforms could help offset persistent equity outflows and strengthen India's external position.

Yield Scribe

June 8, 2026 at 1:41 AM IST

iStock.com

The Bureau

CRR Hike May be RBI’S Cleanest Option to Drain Liquidity – I-Sec PD

Indian Shares Snap Four-Day Losing Streak, Rupee Ends Steady

Govt Defends GDP Data, Rejects Claims of Window Dressing

CCI Finds Debenture Trustees Enforced Fee Floor

RBI May Shift From VRRRs to Short-Term Tools as FX Swap Inflows Flood System

Total FCNR(B) Inflows Under RBI Swap Window $127 Bln, Nearly Half of It in Last 10 days

India’s GDP Data Puzzle: Pronab Sen on Deflators, Revisions and Trust

The Foster Mother of Lodhi Garden