RBI Swap Facility Raises $17.4B in FCNR(B) Deposits

The Reserve Bank of India (RBI) has a special program called the Swap Facility to help Indian banks get money from people living outside India.

So far, they have raised $17.4 billion through a type of deposit called FCNR(B).

They also got some money through other ways, like OFCB and ECBs, making the total $20.7 billion.

This program started in June 2026 and will continue until the end of 2026.

The RBI is trying to protect banks from money problems and is offering good deals to people who put money in these deposits.

Some bankers think they might raise even more money this time than they did in 2013.