Quick Summary
The Reserve Bank of Indias special USD-INR forex swap facility has received an extraordinary response, mobilising US$73 billion in foreign exchange inflows in just eleven weeks. The development highlights strong confidence among Non-Resident Indians (NRIs) and overseas investors in India's banking system and economic outlook. Official copy of the Press Release is as follows The Reserve Bank of India's special USD-INR forex swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowi
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FAQ :
The facility attracted a total of US$73 billion in foreign exchange inflows.
The US$73 billion was mobilised in just eleven weeks.
The facility was for FCNR(B) deposits, Overseas Foreign Currency Borrowings (OFCB), and External Commercial Borrowings (ECB).
Non-Resident Indians accounted for US$65.40 billion, mainly through FCNR(B) deposits.
The FCNR(B) window was originally scheduled to close on September 30, 2026.
This mobilisation exercise is the largest and fastest undertaken by India, surpassing the RBI's 2013 FCNR(B) swap scheme which raised about US$26 billion over roughly three months.
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