Regulatory Alerts2026-06-08
Added · Updated
Swap Facility for FCNR (B) Deposits
The Reserve Bank of India introduces a US Dollar-Rupee Forex Swap Facility for fresh FCNR (B) deposits with tenors between three and five years, available to Authorised Dealer Category-I banks. The facility allows banks to sell US Dollars to the RBI at the FBIL Reference Rate on a spot basis and repurchase them at the end of the swap period, with a maximum weekly swap limit equal to eligible deposits mobilized in the preceding week. Deposits must have a one-year lock-in period, and the facility is operational from June 8, 2026, until October 16, 2026, for deposits mobilized between June 8 and September 30, 2026. Provisions under para 402 of the RBI (Commercial Banks – Credit Facilities) Directions, 2025 are exempted for these deposits, and no ISDA agreement is required.
More like this from RBI
RBI published 59 documents in the last 30 days. We email you each new one the day it's published.