Economy · India
Forex Swap Inflows Rise, FCNR Deposits Boost Bank Reserves
India's foreign exchange swap inflows have reached $72.85 billion, with Foreign Currency Non-Resident (FCNR) deposits playing a significant role in this increase. This development is seen as a potential growth lever for banks in the fiscal year 2027. The Reserve Bank of India's (RBI) "calibration" strategy is credited with this outcome. Banks are reportedly leveraging these deposits to bolster their reserves.
How outlets across the spectrum covered it
L 0 C 2 R 0
- Centre (2): The Economic Times, The Financial Express