RBI closes forex deposit window for NRIs early after $52.3 billion rush
The Reserve Bank of India (RBI) closed its special forex swap facility for Foreign Currency Non-Resident (Bank) deposits on August 31 after attracting $52.3 billion in inflows. While the swap facility for these deposits is now closed, banks can still engage in swaps until September 11. Other borrowing schemes remain available until December 31, 2026.