Data on Forex inflows via FCNR(B) Deposits, External Commercial Borrowings (ECBs) and Overseas Foreign Currency Borrowings (OFCBs) under Reserve Bank’s Swap facility
Distilled Policy Brief
- The RBI introduced a special USD‑INR Forex Swap facility covering FCNR(B) deposits, ECBs and OFCBs on 8 June 2026.
- The scheme remains open for FCNR(B) deposits until 31 August 2026 and for ECBs and OFCBs until 31 December 2026, as per the press release dated 14 August 2026.
🎯 Prelims High-Yield Examination Points
RBI’s USD‑INR Forex Swap facility for FCNR(B) deposits, ECBs and OFCBs – launch date and closure timelines.
⚖️ Mains Analytical & Syllabus Linkages
Evaluate the impact of the RBI’s forex swap facility on managing external sector inflows and its implications for India’s balance of payments and monetary stability.
🎯 UPSC Prelims Practice Drill
According to the RBI press release dated 14 August 2026, the special USD‑INR Forex Swap facility introduced on 8 June 2026 will remain operational for which of the following periods?
- [A] FCNR(B) deposits until 31 August 2026 and ECBs/OFCBs until 31 December 2026
- [B] FCNR(B) deposits until 31 December 2026 and ECBs/OFCBs until 31 August 2026
- [C] All three categories until 31 December 2026
- [D] All three categories until 31 August 2026
▶ Reveal Official Answer & Analytical Explanation
The RBI press release of 14 August 2026 states that the swap facility stays open for FCNR(B) deposits only up to 31 August 2026, whereas ECBs and OFCBs can use it until 31 December 2026. Hence option A is correct; the other options misstate the respective expiry dates.
🏛️ Historical Twin PYQ Anchor (2021)
Consider the following statements regarding the "National Clean Air Programme (NCAP)": 1. It is implemented by the Ministry of Environment, Forest and Climate Change. 2. Central Pollution Control Board acts as the sole regulatory executive body.