Forex mop up under RBI's swap scheme doubles to over $40bn

Total forex mobilization under RBI's concessional dollar swap facility has exceeded forty billion dollars. This amount more than doubled in just a fortnight, surpassing previous deposit drives. Foreign Currency Non-Resident (Bank) deposits formed the largest portion of these inflows. The facility encourages overseas fund mobilization and boosts foreign exchange reserves. This scheme remains available until late 2026 for various deposit types.

from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/iHWUhCP

Read more »