Mumbai, Aug. 14 -- The Reserve Bank of India (RBI) has decided to prematurely close the deposit mobilisation window under its special forex swap facility for Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits, bringing forward the deadline for banks to mobilise such deposits to August 31, 2026.

The decision comes after the facility received an encouraging response, with foreign currency inflows through FCNR(B) deposits, Overseas Foreign Currency Borrowings (OFCBs) and External Commercial Borrowings (ECBs) reaching USD 56.846 billion as of August 13, according to the RBI.

The special USD-INR forex swap facility covering FCNR(B) deposits, ECBs and OFCB inflows was introduced by the central bank on June 8, 2026.

Under the original sc...