Finance
Mr. BillionhairRBI Unleashes Massive Forex Swap Facility for Banks
Folks, the RBI just made a HUGE move! They launched an incredible forex swap facility for FCNR(B) deposits! Banks can now play with US dollars like it’s a game! Three to five years of financial magic! This is going to attract foreign capital like you wouldn’t believe! I told you this was going to be tremendous! Get ready, folks! It’s a game changer!
few days ago | BS Reporter
Quick rundown
1.RBI launches a new forex swap facility for FCNR(B) deposits.
2.Banks can now price FCNR(B) deposits freely within regulatory limits.
3.The swap facility is only available in US dollars.
4.Banks can avail of the swap facility once a week.
5.The scheme aims to attract foreign capital and offer better NRI deposit rates.
