New Delhi, Sept. 3 -- IFSC Banking Units (IBUs) at GIFT City's International Financial Services Centre (GIFT-IFSC) have sanctioned USD 54.02 billion under the Reserve Bank of India's (RBI) special swap facility for FCNR(B) deposits as of August 31, 2026, the International Financial Services Centres Authority (IFSCA) said.

Of the sanctioned amount, around USD 52.82 billion has already been disbursed. Sanctions rose sharply from USD 28.6 billion on August 14 to USD 37.26 billion on August 21 before reaching USD 54.02 billion by the end of August.

A total of 20 IBUs, including leading Indian and foreign banks operating from GIFT-IFSC, are participating in the facility.

IFSCA Chairperson K. Rajaraman said, "The rapid scale-up of banking ac...