PSUs Request 3-Month Extension for Forex Swap

Leading Public Sector Undertakings (PSUs) in India have asked the Reserve Bank of India (RBI) to extend a special foreign exchange swap facility by three months.

This facility helps them get foreign currency at a lower cost, which they use to fund big projects.

The current deadline is December 31, 2026, but the PSUs want it to last until March 2027.

The RBI introduced this facility in June 2026 to help the country's foreign exchange reserves and stabilize the rupee.

Banks can also use this facility to get deposits from Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs).

Experts think this could bring in $80-85 billion in foreign exchange.

The RBI hasn't responded yet, but the PSUs hope the extension will help them keep funding their projects without any breaks.