Mumbai, Aug. 14 -- The Reserve Bank of India (RBI) will close its special foreign currency non-resident bank or FCNR(B) deposit facility a month earlier than planned after the scheme attracted $52.3 billion in foreign-currency inflows till 13 August.

The facility, announced on 5 June and implemented on 8 June to attract foreign-exchange inflows, will now be available for deposits mobilized only until 31 August instead of the earlier 30 September deadline, the central bank said in a press release. However, banks can avail of the corresponding swaps with the RBI until 11 September.

In its June monetary policy, RBI had allowed banks to raise fresh and renewed FCNR(B) deposits with maturities of three to five years and swap those dollars wi...