Can a bank enter into a swap with RBI if the original tenor of the fresh FCNR (B) deposits mobilized is more than three years but at the time of availing of the swap facility with RBI, the residual maturity is less than three years?

Can a bank enter into a swap with RBI if the original tenor of the fresh FCNR (B) deposits mobilized is more than three years but at the time of availing of the swap facility with RBI, the residual maturity is less than three years? https://www.taxtmi.com/manuals?id=6446 Banks may access the RBI swap window for FCNR(B) dollar funds where the deposits were originally mobilised for a minimum tenor of three years with a one-year lock-in, and swaps are transacted in prescribed multiples of one million US dollars; in such cases RBI permits swaps of tenors marginally shorter than three years when residual maturity falls below three years. en-us Fri, 13 Dec 2024 14:59:00 +0530 Fri, 13 Dec 2024 14:59:00 +0530 TaxTMI RSS Generator Can a bank enter into a swap with RBI if the original tenor of the fresh FCNR (B) deposits mobilized is more than three years but at the time of availing of the swap facility with RBI, the residual maturity is less than three years? https://www.taxtmi.com/manuals?id=6446 Banks may access the RBI swap window for FCNR(B) dollar funds where the deposits were originally mobilised for a minimum tenor of three years with a one-year lock-in, and swaps are transacted in prescribed multiples of one million US dollars; in such cases RBI permits swaps of tenors marginally shorter than three years when residual maturity falls below three years. Manuals FEMA Fri, 13 Dec 2024 14:59:00 +0530 https://www.taxtmi.com/manuals?id=6446