The Reserve Bank on Monday upwardly revised the collections under the special Foreign Currency Non-Resident (FCNR-B) deposit scheme to USD 133 billion till August 31, the closing date, which was advanced by a month following a robust response from the Indian diaspora. According to the provisional data released on September 2, the mobilisation by banks under FCNR (B) stood at USD 127.226 billion. The RBI’s special USD-INR forex swap facility for FCNR (B) deposits, Overseas Foreign Currency Borrowings (OFCB) and External Commercial Borrowings (ECBs) was launched on June 8, 2026.
Read more at the source
Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and credits belong to the original authors and publishers.