RBI's Forex Swap Scheme Attracts $127 Billion in NRI Inflows

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India's Reserve Bank launched a special foreign exchange swap facility aimed at strengthening the country's dollar reserves. The scheme has attracted $127 billion in inflows from Non-Resident Indians, surpassing its targets. The response has been significantly stronger than a comparable initiative run in 2013, with inflows arriving at five times the scale of that earlier effort. The scheme reflects robust NRI confidence in India's financial instruments and the central bank's ability to mobilize overseas capital.

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