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India's forex boost: RBI's swap scheme raises $20.72 billion so far
The Reserve Bank of India's special swap facility attracted $20.72 billion by July 17. Most of this money arrived through Foreign Currency Non-Resident deposits. Overseas Foreign Currency Borrowings and External Commercial Borrowings also contributed to inflows. This facility was launched to strengthen India's balance of payments and encourage capital. Banks anticipate a significant rise in FCNR(B) deposits before the September deadline.
20 Jul, 16:14 — 20 Jul, 16:14
Coverage Timeline
First report: indian-express · 20 Jul, 16:10|Full coverage: 2 · 4m|Window: 4m
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