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      Home› Manuals List › FEMA › FEMA - FAQ › Swap Window for attracting FCNR (B) Dollar funds - As on Sep 18, 2013 › This
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      In case of premature withdrawal of deposit, is it necessary for the bank to approach RBI for cancellation of the swap?

      Swap Window for attracting FCNR (B) Dollar funds - As on Sep 18, 2013

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      Swap cancellation requirement: banks must seek RBI approval when FCNR(B) deposits are prematurely withdrawn.
      Banks must approach the Reserve Bank of India for cancellation of an FCNR(B) deposit swap if the underlying deposit is prematurely withdrawn; RBI may ... Summary

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