US, July 23 -- The Reserve Bank of India's swap facility for offering concessional swaps for fresh foreign currency non-resident bank deposits [FCNR(B)] deposits, External Commercial Borrowings (ECBs) and Overseas Foreign Currency Borrowings (OFCBs), has succeeded in attracting forex inflows to the tune of $20,718 million, according to the Central Bank statement.

The amount has flowed in since the scheme was operationalised on June 8 this year. The figures are based on the data received from Authorised Dealer Banks show that as much as $17,406 million of this amount was mobilised through FCNR(B) deposits, while another $1.970 million came via OFCBs while ECBs accounted for the remaining $1,342 million.

"The swap facility has seen avid ...