Economy & Bankingv4 · 4 versions
RBI Forex Swap Schemes — FCNR(B), ECB & OFCB
The Reserve Bank of India runs a special dollar-rupee swap window built to pull foreign currency into the country. One leg swaps the dollars a bank raises on fresh FCNR(B) deposits into rupees at par; the other gives concessional cover to money borrowed abroad as OFCBs and ECBs. Inflows reported by authorised dealer banks reached US$143,596 million by 18 September 2026. The deposit leg closed on 31 August; the borrowing leg runs to 31 December 2026.
Last updated 22 September 20265 min read
Latest update
Raised the running count: the swap window has now drawn US$143,596 million to 18 September 2026, and the FCNR(B) leg is restated upward to US$132,980 million from the provisional US$127,226 million reported on 2 September. The deposit window stays shut; OFCBs and ECBs can still use the swap until 31 December 2026.
- RBI forex swap
- FCNR(B) deposits
- external commercial borrowings
- OFCB
- balance of payments
- NRI deposits
- USD-INR swap
- ECB
- forex inflows
- RBI swap facility
Read the full living note — free
The complete note in both exam lenses (UPSC analytical / fact capsule), its full version history, and “what changed since you last read” — plus tonight's quiz.
Open in CA·WikiAI-assisted, human-reviewed · sourced from PIB, RBI & ministries · editorial policy
More living notes in Economy & Banking
- India's Pharmaceutical SectorAdds the 30 percent-of-MRP cap on cancer-drug trade margins and the draft curb on prescription-drug advertising by sellers; a new section explains NPPA, the DPCO and trade margins.
- SEBI Regulatory Actions 2026Opened SEBI's 2026 decision log with its exam core and the 7 October circular making a six-level, colour-coded Credit Risk-o-Meter compulsory for debt securities.
- New GDP Series (Base Year 2022-23)Adds the NSO's 9 October draft guideline for States to compile expenditure-side GSDP on the 2022-23 base; no State yet estimates private consumption.
- GST 2.0 — The Two-Slab ReformAdds the 57th GST Council's recommendations — arrest powers dropped, prosecution threshold to ₹5 crore, ₹10,000 notice floor, faster refunds — and trims the note to its exam core.
- India's Maritime & Shipping ReformsLogs the third Sagarmanthan dialogue (shipping ministry with ORF, 7 October 2026) and the India-EU Green Shipping Corridor coalition launched there; older log entries compressed.
- India's Foreign Trade - FY 2026-27Adds India's place among 15 economies backing a USTR-issued statement on structural excess capacity, and Goyal's 8 October reaffirmation of the US$ 1 trillion export goal.