RBI Governor says special forex drive raised $32 billion so far
Reserve Bank of India (RBI) Governor Sanjay Malhotra announced that Indian banks and companies have raised $32 billion through the RBI's special forex drive. This initiative, which includes concessional swap facilities for Foreign Currency Non-Resident deposits, External Commercial Borrowings, and Overseas Foreign Currency Borrowings, is expected to yield total inflows of up to $85 billion. The current pace of inflows suggests a strong response, surpassing previous totals from 2013.