India, July 27 -- India could attract USD 80 billion to USD 85 billion through the Reserve Bank of India's concessional swap facility designed to boost foreign currency inflows, according to a report released Monday by SBI's research team.

The report, "Ecowrap," said USD 20 billion had flowed in as of July 17 calling the figure a "positive reprieve." Foreign Currency Non-Resident (Bank) or FCNR(B) deposits made up the bulk of that total at USD 17.4 billion, followed by Overseas Foreign Currency Borrowings at USD 1.97 billion and External Commercial Borrowings at USD 1.34 billion.

SBI projected FCNR(B) deposits alone could reach USD 65 billion to USD 70 billion by the scheme's close, pushing the combined total including OFCBs and ECBs to...