RBI
India pulls in $20.72 billion as RBI's swap facility sees massive response
The Reserve Bank of India (RBI) on Monday said its concessional swap facility, introduced to encourage foreign currency inflows and strengthen the country's balance of payments, has attracted $20.72 billion as of July 17, 2026.
In a statement, the central bank said: "With a view to strengthen our 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."
The RBI said the facility was operationalised on June 8, 2026, and will remain available until September 30, 2026, for fresh Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits, and until December 31, 2026, for Overseas Foreign Currency Borrowings (OFCBs) and External Commercial Borrowings (ECBs).
The central bank noted that the concessional swap window has generated strong market interest, attracting a steady stream of foreign exchange inflows since its launch.
According to RBI data, FCNR(B) deposits accounted for the bulk of the inflows at $17.406 billion, while OFCBs contributed $1.97 billion and ECBs brought in $1.342 billion, taking the total inflows under the facility to $20.72 billion as of July 17.
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