The Reserve Bank of India (RBI) extends the FCNR(B) swap deadline by five weeks as the scheme winds down, with the facility approaching the $57 billion mark, according to NDTV. The move shifts the timeline for participants to swap non-resident deposits held under the FCNR(B) route.
The reports frame the decision in terms of the scheme’s progress and forward-looking estimates. NDTV cites SBI Research projections that the total outstanding under the FCNR(B) swap mechanism could reach roughly $80–85 billion by the end of the period. The adjustment in the deadline effectively gives additional time for transactions to be completed before the scheme concludes.
Across the outlets provided, the central facts are consistent: the RBI advances the swap deadline by five weeks, the programme is nearing about $57 billion in activity or outstanding amounts, and analysts expect a higher end-of-period figure in the $80–85 billion range. No other major policy changes or competing interpretations are raised in the supplied material.
