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    <title>RBI&#039;s USD-INR Swap Facility Sparks Unprecedented Forex Inflows into India, Banks Raise USD 73 Billion in eleven weeks</title>
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    <description>USD-INR forex swap facility for FCNR(B) deposits, overseas foreign-currency borrowings and external commercial borrowings enabled banks to access foreign-currency funding through a special swap window. FCNR(B) deposits formed the principal component of the reported foreign-exchange inflows, reflecting participation by non-resident Indians. The FCNR(B) window was scheduled for early closure after the stated mobilisation objective was achieved ahead of schedule, and the inflows were presented as strengthening external buffers through long-term non-resident deposits and institutional funding.</description>
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