RBL Bank shares jumped over 5% on Thursday, hitting a fresh 52-week high of Rs 409.65, on news of the bank’s strong dollar deposit mobilisation.

The rally comes after it emerged that RBL Bank has pulled in $3.4 billion, or around Rs 32,472 crore, in FCNR deposits through the Reserve Bank of India’s swap facility.

That’s a striking number for a bank of RBL’s size, and it’s largely down to the bank’s promoter link with Emirates NBD, which gave it access to a much bigger pool of Gulf based deposits than most mid sized lenders typically manage to tap.

Those dollar deposits now make up 26% of RBL Bank’s total deposits and 37% of its term deposits.

Within the broader FCNR mobilisation drive across Indian banks, RBL’s haul works out to a 2.7% share, a large slice for a bank of its scale. This mobilisation is part of a much bigger wave.

The RBI’s FCNR swap facility has seen total inflows cross $127 billion so far, with nearly $62 billion coming in over just the last ten days, the strongest stretch of inflows since the scheme opened.

Including external commercial borrowings and other overseas borrowings, total mobilisation through the window has now crossed $136 billion.

Larger banks have also seen big inflows, with ICICI Bank reporting $17.9 billion in FCNR deposits alone.

For RBL Bank specifically, this deposit push adds to a year that has already been strong for the stock.

Shares had already gained more than 23% in 2026 heading into Thursday, even before this latest move.

At 12:50 pm on Thursday, RBL Bank was trading at Rs 408.60 on the NSE, up 4.93% for the day. The stock is now up close to 30% for 2026 so far.

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