MUMBAI, India, June 8 -- Reserve Bank of India issued the following notification:
RBI/2026-27/99
FMOD.MAOG.No.S-56/01.06.016/2026-27
June 8, 2026
All Authorised Dealer Category-I Banks
Madam / Sir,
Swap Facility for FCNR (B) Deposits
Please refer to the Governor's Statement dated June 5, 2026.
2. 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.
3. The salient features of the swap facility are as under:
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The swap facility will be available to the AD Category I banks for fresh FCNR(B) deposits mobilized in any freely convertible currency, including deposits that are renewed upon maturity, for a minimum ...