RBI FCNR(B) Swap Window Early Closure

• Total Forex Mobilization: Total inflows under the facility reached 56.8billion∗∗asofAugust13,2026—comprising∗∗56.8billion∗∗asofAugust13,2026—comprising∗∗52.3 billion in FCNR(B) deposits and $4.5 billion in overseas bank borrowings.
• Swap Cost Analysis: SBI Research noted that cumulative 5-year hedging costs totaled approximately $10.5 billion (representing just 1.45% of total forex reserves), demonstrating that swap cost was not the primary driver for early closure.

3. High-Level Committee on Banking for Viksit Bharat 2047

Complementing foreign exchange reserve stability, Union Finance Minister Nirmala Sitharaman announced on August 17, 2026, that the Indian banking sector is currently in its "strongest position in decades," driven by multi-decadal low Non-Performing Asset (NPA) ratios and high Capital Adequacy Ratios (CRAR).

To capitalize on this balance-sheet strength, the government will soon constitute a "High-Level Committee on Banking for Viksit Bharat" to lay out next-generation reforms across digital public infrastructure, offshore trade financing, and long-term project lending.