New Delhi, June 8 -- The Reserve Bank of India (RBI) announced two special US Dollar-Rupee forex swap facilities, one for fresh Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits and another for eligible External Commercial Borrowings (ECBs) and Overseas Foreign Currency Borrowings (OFCBs), in a move aimed at attracting foreign currency inflows and supporting external financing.

The measures follow RBI Governor Sanjay Malhotra's announcement in the monetary policy statement on June 5.

In a circular on FCNR(B) deposits, the central bank said, "It has been decided to introduce a US Dollar-Rupee Forex Swap Facility for fresh FCNR (B) deposits, mobilised for a minimum tenor of three years and maximum tenor of five years."

Under the sc...