Indian Oil Corporation secured five hundred million dollars through a special Reserve Bank of India swap facility. This concessional forex swap encourages state-run companies to increase dollar inflows into India. The company raised these funds via a five-year external commercial borrowing last week. Indian Oil's borrowings increased significantly for selling fuels below market rates. The refiner maintains sufficient crude oil reserves for forty-five days.

Indian Oil Corporation secured five hundred million dollars through a special Reserve Bank of India swap facility. This concessional forex swap encourages state-run companies to…

Foreign currency inflows under the Reserve Bank of India's (RBI) special swap facility almost doubled in just two weeks, rising to $40.816 billion by July 31 from $20.718 billion…