India, Aug. 24 -- The Government of India has issued a release:
The Reserve Bank of India's special USD-INR forex swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings (OFCB) and External Commercial Borrowings (ECB), launched on June 8, 2026, has driven an unprecedented surge in foreign exchange inflows into the country by mobilizing total foreign exchange inflows of US $73 billion as on August 21, 2026. FCNR(B) deposits alone accounted for US $65.40 billion, underlining the overwhelming response of Non-Resident Indians to the scheme.
The scheme's success underscores the strength of the Indian diaspora, who have reposed faith in the Indian banking system and have once again demonstrated their enduring economic and emoti...