The Reserve Bank of India’s (RBI) forex swap measures for FCNR(B) deposits and external commercial borrowings (ECBs) by state-owned companies could attract foreign capital inflows of $60–70 billion, according to India Ratings and Research. The move is also expected to provide support to the Indian rupee.
Indian Banking News
https://indianbankingnews.com/news/rbi-forex-push-may-bring-usd-60-70-bn-inflow