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RBI/2026-27/232 August 07, 2026 Reserve Bank of India (Priority Sector Lending – Targets and Classification) Second Amendment Directions, 2026 Please refer to the Governor’s Statement dated June 5, 2026, and RBI circular FMOD.MAOG.No.S-56/01.06.016/2026-27 dated June 08, 2026 on ‘Swap Facility for FCNR (B) Deposits’, wherein it has been decided to introduce a US Dollar-Rupee swap facility for fresh Foreign Currency Non-Resident (Bank) [FCNR (B)] dollar funds, mobilised for a minimum tenor of three years and maximum tenor of five years. 2. Further, reference is also invited to the Reserve Bank of India (Cash Reserve Ratio and Statutory Liquidity Ratio) Second and Third Amendment Directions dated June 08, 2026 and June 19, 2026, as applicable to various banks, wherein exemption has been provided from maintenance of Cash Reserve Ratio and Statutory Liquidity Ratio on fresh FCNR (B) deposits of minimum tenor of three years and maximum tenor of five years mobilised (including deposits that are renewed upon maturity) between June 08, 2026 and September 30, 2026, and on fresh Non-Resident (External) Rupee (NRE) term deposits of tenor of three years or more mobilised (including deposits that are renewed upon maturity) between June 19, 2026 and September 30, 2026. 3. In this connection, please refer to the Reserve Bank of India (Priority Sector Lending – Targets and Classification) Directions, 2025 (Updated as on January 19, 2026). It has been decided that the following advances extended in India will be excluded from calculation of Adjusted Net Bank Credit (ANBC): a) advances against the fresh FCNR (B) deposits of minimum tenor of three years and maximum tenor of five years mobilised (including deposits that are renewed upon maturity) by the banks between June 08, 2026 and September 30, 2026, and b) advances against NRE term deposits of three years or more mobilised (including deposits that are renewed upon maturity) by the banks between June 19, 2026 and September 30, 2026. 4. The Amendment Directions modify the Reserve Bank of India (Priority Sector Lending – Targets and Classification) Directions, 2025 as below: i. Item no. VI in the table at paragraph 6.1 shall be partially modified as below: Advances extended in India against the Note: The amount to be excluded from ANBC for computation of priority sector targets shall not exceed the fresh FCNR (B) / NRE deposits eligible for exemption from maintenance of CRR / SLR in terms of the above Amendment Directions. ii. Foot note no.3 shall be deleted:
5. The above amendment shall come into force with immediate effect. Yours faithfully, (Nisha Nambiar) |
