India’s central bank has reported that foreign exchange deposit inflows reached $65.4 billion, reflecting steady foreign currency mobilization across the financial system.
According to central bank data, total funds raised through a combination of overseas deposits, loans, and special foreign exchange swap schemes stood at $72.8 billion.
Foreign Exchange Swap Scheme and Overseas Loans
Commercial banks in India successfully attracted $72.8 billion in foreign exchange inflows under the Reserve Bank of India’s swap arrangement. The scheme allowed financial institutions to mobilize foreign currency liquidity through international deposits and credit channels.
The updates from the central bank highlight the total capital gathered from external sources, combining non-resident deposits, corporate overseas borrowings, and targeted bank facilities.
Broader Financial and Economic Developments
The foreign exchange figures come alongside broader financial activity across different sectors of the Indian economy.
To support national development plans, India is tapping multilateral development lenders, including the World Bank and the Asian Development Bank (ADB), for $2.5 billion to fund infrastructure spending.
In the banking industry, India’s top lender reported quarterly net income that surpassed market expectations, driving gains in its stock price. In commodities, the Multi Commodity Exchange (MCX) announced plans to introduce coal and iron ore exchanges aimed at improving price discovery in raw materials.