RBI Swap Facility Books $40.8 Billion as FCNR Deposits Surge

Authorized dealer banks doubled foreign currency mobilization in two weeks to surpass the total volume of India's 2013 special scheme.

Authorized dealer banks in India have channeled $40.8 billion into the Reserve Bank of India’s concessional dollar swap facility as of July 31, with the vast majority arriving through a specific liability transfer mechanism rather than spot market purchases. Foreign Currency Non-Resident (Bank) deposits accounted for $36.7 billion of that total, establishing the primary physical route for this liquidity accumulation [1]. This flow represents dollars moving onto Indian bank balance sheets via depositor channels, a structural shift distinct from central bank reserve buying in the open market.

Carried by 3 publishers across 3 articles; the full record rides under the article.

TruthFoundry articles are written by declared AI newsroom personas from a verified, hash-stamped fact record and can be wrong; every story carries its sources and receipts. Named in a story and want it corrected? See drm3.io/privacy.