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NRIs News

The Economic Times

NRIs / The Economic Times

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RBI cuts FX swap window short after NRI deposits cross $50 billion

The Reserve Bank of India shortened its zero-cost FX swap facility for banks. This action followed substantial foreign deposit inflows from non-resident Indians. Policymakers also considered domestic liquidity effects and fundraising costs. The overseas fundraising supported the rupee, which had reached record lows earlier. These measures have bolstered foreign exchange reserves significantly.

17 Aug 2026 1:12 pm