Forex inflows from concessional swap scheme at $20.72 bn till July 17: RBI | Finance News
The Reserve Bank of India (RBI) on Monday said inflows from the concessional swap schemes to attract foreign capital stood at $20.72 billion till July 17, of which inflows under the FCNR(B) scheme amounted to $17.4 billion.
The scheme has been operational since June 8, 2026.
Inflows under overseas foreign currency borrowings (OFCB) stood at $1.97 billion and those under external commercial borrowings (ECB) at $1.34 billion through the swap facility.
“With a view to strengthen our balance of payments and incentivise capital inflows, RBI had announced a series of measures, including a facility for offering concessional swaps for fresh FCNR(B) deposits, OFCB and ECB inflows, on June 5, 2026,” the RBI said.
The FCNR(B) window will remain available till September 30, 2026, while the OFCB and ECB facilities will remain open till December 31, 2026.
Separately, India’s outward foreign direct investment (FDI) dropped 47.9 per cent to $3 billion in June 2026 from $5.74 billion in the same month last year, data released by the RBI showed.
Sequentially, it declined from $4.5 billion in May 2026, according to RBI data.
Outbound FDI, expressed as financial commitment, has three components: equity, loans and guarantees. Outbound equity FDI commitment declined to $738 million in June from $2.2 billion a year ago. It was also lower than $1.25 billion in May 2026.
At the same time, debt (loans) dropped to $469.87 million in June 2026 from $568.54 million in the same month of 2025. It was also lower than $645.75 million recorded in May 2026. Guarantees for overseas units declined to $1.78 billion in June from $2.97 billion a year ago and were lower than $2.61 billion in May 2026.
According to the data, among the key investments by companies, ONGC Videsh Rovuma has committed $40 million for its Mozambique-based joint venture, Project R2 Mozambique. Startup Investments has committed nearly $35 million for its Singapore-based joint venture. Lenskart has committed equity worth $22 million for its Singapore-based wholly owned subsidiary. GFCL EV Products has committed equity worth $20 million for its Oman-based joint venture and another $0.13 million for its Oman-based wholly owned subsidiary.
One Source Specialty Pharma has committed $18 million in equity for its Singapore-based wholly owned subsidiary.
ONGC Videsh has committed $47 million in guarantees towards its Singapore-based wholly owned subsidiary and another $24 million towards its British Virgin Islands-based wholly owned subsidiary. Oil India has committed $16.15 million in guarantees towards its British Virgin Islands-based wholly owned subsidiary.
Zydus Worldwide DMCC has committed debt worth $183 million for its UAE-based wholly owned subsidiary. Sterling and Wilson Renewable Energy has committed $44 million of debt for its UAE-based wholly owned subsidiary.
