RBI's concessional swap scheme mobilises $73 bn in less than 11 weeks

The Reserve Bank of India's special USD-INR forex swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings (OFCB) and External Commercial Borrowings (ECB) has mobilised foreign exchange inflows of USD 73 billion as of August 21, 2026, reflecting strong backing from Non-Resident Indians (NRIs).

FCNR(B) deposits alone accounted for USD 65.40 billion of the total mobilisation, reflecting a significant response from NRIs and overseas depositors, the finance ministry said in a statement.