# RBI closes FCNR(B) swap window early after $52.3 bn inflow

2026-08-14T16:01:59+00:00 | Governance | Indian Opinion Desk

Corroboration: 3 independent outlets

The Reserve Bank of India has brought forward the closure of its special FCNR(B) deposit swap facility to August 31 after banks raised $52.3 billion (over Rs 4.9 lakh crore) in just over two months, far exceeding expectations. Total forex inflows under the scheme stood at $56.85 billion. The RBI cited 'encouraging response' for the early closure, a reversal from Governor Sanjay Malhotra's recent statement that there were no immediate plans to close it. The facility was introduced in June to stabilise the sliding rupee. The 2013 version had raised only $34 billion.

## Coverage

- ndtvprofit.com <https://www.ndtvprofit.com/economy/rbi-says-banks-raised-56-85-billion-under-forex-inflow-scheme-11910471#publisher=newsstand>
- livemint.com <https://www.livemint.com/market/dollar-deluge-prompts-rbi-to-shut-special-fcnr-scheme-early-ecbs-ofcbs-nris-foreign-currency-deposits-11786713510471.html>
- bfsi.economictimes.indiatimes.com <https://bfsi.economictimes.indiatimes.com/articles/rbi-prepones-fcnrb-swap-deadline-to-aug-31-as-banks-mobilise-usd-52-3-billion/133243669>

Tags: FCNR(B), IDFC FIRST Bank, Indian rupee, Nuvama Group, RBI
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