Banks raise USD 36.7 billion via FCNR(B) deposits under concessional swap facility, RBI says

Banks have mobilised USD 36.73 billion through Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits under the Reserve Bank of India's concessional swap facility till July 31, accounting for nearly 90 per cent of the USD 40.82 billion total foreign currency inflows raised under the scheme. Overseas Foreign Currency Borrowings (OFCBs) contributed USD 2.58 billion, while External Commercial Borrowings (ECBs) stood at USD 1.52 billion.