Reserve Bank of India mandates daily reporting of FCNR(B), ECB and OFCB mobilisations
Authorised Dealer Category-I banks must submit daily FCNR(B), ECB and OFCB mobilisation data to RBI by 6 p.m., with NIL statements on no-transaction days (except Saturdays and holidays)
Change
The Reserve Bank of India (RBI) directed all Authorised Dealer Category-I banks to submit daily data on FCNR(B) deposits, External Commercial Borrowings (ECBs) and Overseas Foreign Currency Borrowings (OFCBs) mobilised under the RBI swap facility by 6 p.m. to specified RBI email addresses, with mobilisation data from 8 June 2026 to the date of issuance due with the first report on 22 June 2026.
Why it matters
Banks must produce daily operational reports in the Annex I/II/III formats and route them to [email protected], [email protected] and [email protected] by 18:00, imposing a sustained daily reporting cadence on FX and borrowing desks. The first submission, due 22 June 2026, must also include mobilisation data from 8 June 2026 through the date of issuance, creating an immediate retrospective compilation requirement. The directions are issued under Sections 10(4), 11(1) and 11(2) of FEMA, 1999.
Implications
- — Authorised Dealer Category-I banks must implement daily collection, reconciliation and filing processes to deliver Annex-formatted FCNR(B), ECB and OFCB mobilisation data to the specified RBI boxes by 6 p.m.; failure to submit (including not filing required NIL statements) will constitute non-compliance with RBI directions issued under FEMA.
- — Authorised Dealer Category-I banks must compile and attach mobilisation data from 8 June 2026 through the date of issuance with the first report due on 22 June 2026; omission of this historical data will constitute non-compliance with the reporting instruction.
Who is affected
- — Authorised Dealer Category-I banks' reporting and operations teams
- — Authorised Dealer Category-I banks' treasury and FX operations teams
What to watch
- — First report due 22 June 2026 — must include mobilisation data back to 8 June 2026; thereafter daily submission required by 6 p.m. every day, with a NIL statement when no transactions occur (except Saturdays and holidays).