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With $52.3 billion raised, FCNR(B) scheme to close a month early
MUMBAI: RBI has decided to close the special FCNR(B) scheme a month early on Aug 31 after banks mopped up $52.3 billion in deposits by Aug 13. The central bank’s decision follows a strong response to the facility, which was designed to bring foreign currency into India’s banking system at a time when dollar liquidity was a concern.
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economictimes.indiatimes.com
RBI to close FCNR(B) forex swap facility early after strong dollar inflow - The Economic Times
The Reserve Bank of India has closed its special forex swap facility early. This facility attracted significant foreign exchange inflows totaling $52.3 billion. The scheme for…
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RBI shortens FCNR (B) deposit swap window to Aug 31
The Reserve Bank of India recently announced a revised timeline for the swap facility associated with FCNR(B) deposits, now set to end on August 31, 2026. This adjustment follows…
