07-August-2026
Markets and Finance
 
RBI rules out early end to forex deposit schemes
06-Aug-2026

Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday said there is no proposal at present to prematurely close the concessional foreign exchange swap facility, expressing confidence that the scheme will continue to attract healthy foreign currency inflows. The FCNR(B) scheme is ending in September, while the OFCB and ECB plans will continue till December. The RBI is bearing the cost of currency hedging under the scheme. The RBI’s policy steps aimed at attracting foreign capital are expected to result in a balance of payments (BoP) surplus for the current financial year, Malhotra said. “Capital flow measures undertaken in June have supported inflows; as a result, the balance of payments is expected to register a healthy surplus this year

News Source:- https://www.financialexpress.com/business/banking-finance/rbi-rules-out-early-end-to-forex-deposit-schemes/4311369/