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of <h1>Banks Must Consult RBI for Swap Unwind Amid Dollar Outflow; Temporary Foreign Funding Permitted Under FEMA Guidelines.</h1> Banks experiencing a US Dollar outflow due to premature withdrawal must approach the Reserve Bank of India (RBI) to unwind the swap. However, they can temporarily source funds from other permissible foreign currency funding options until the swap is unwound with the RBI. This guidance is part of the Foreign Exchange Management Act (FEMA) framework, specifically addressing the management of FCNR (B) Dollar funds as of September 18, 2013.
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