Over $20 billion mobilised through RBI’s special swap facility

The Reserve Bank of India’s (RBI) foreign currently swap facility operationalised through Foreign Currently Non-Resident-Bank {FCNR(B)} deposits, External Commercial Borrowings (ECBs) and Overseas Foreign Currency Borrowings (OFCBs) to mobilise foreign exchange has generated more than 20 billion, according to data released by the central bank on Monday. 

“The swap facility has seen avid interest and attracted steady forex inflows since

June 8, 2026,” the RBI said. 

Based on the data received from authorised dealer banks, the position of forex inflows mobilised till July 17, 2026 was a total of $20.72 billion. 

This includes $17.4 billion through FCNR (B), $1.97 billion through OFCBs and $1.34 via ECBs. 

To strengthen India’s balance of payments and incentivise capital inflows, RBI had announced a series of measures, including a facility for offering concessional swaps for fresh FCNR(B) deposits, OFCB and ECB inflows, on June 5, 2026. 

This facility was operationalised on June 8, 2026, and is available upto September 30, 2026, for the FCNR(B) deposits and upto December 31, 2026, for the OFCBs and ECBs.

Indian banks have been asked by the Union Finance Ministry to mobilise as much foreign exchange as possible through the swap facility.