RBI forex swap facility hits USD 72.85 billion, banks mobilise USD 65.4 billion in FCNR(B)

Banks have mobilised USD 65.4 billion through FCNR(B) deposits under RBI's special forex swap facility, with total inflows reaching USD 72.85 billion as of August 21, per ET BFSI. Builders in fintech should watch how this liquidity influx reshapes capital availability for lending fintechs and working capital products targeting SMEs and startups.

Source: ET BFSI ↗