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          FEMA

          When can a bank approach RBI for the swap?

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

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          Swap window for FCNR(B) funds: banks may request central bank swaps upon mobilising required FCNR(B) deposits, weekly in practice. A bank may approach the central bank for a swap once it mobilizes the specified threshold of FCNR (B) dollar deposits; swap transactions are coordinated with the central bank's financial markets function and are generally permitted on a weekly basis in consultation with the Financial Markets Department as a FEMA-related procedural mechanism for managing mobilized foreign currency deposits.
                            Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                              Provisions expressly mentioned in the judgment/order text.

                                  Swap window for FCNR(B) funds: banks may request central bank swaps upon mobilising required FCNR(B) deposits, weekly in practice.

                                  A bank may approach the central bank for a swap once it mobilizes the specified threshold of FCNR (B) dollar deposits; swap transactions are coordinated with the central bank's financial markets function and are generally permitted on a weekly basis in consultation with the Financial Markets Department as a FEMA-related procedural mechanism for managing mobilized foreign currency deposits.


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