{
  "id": 3751606,
  "title": "India's RBI gives banks more flexibility in swapping overseas dollar deposits",
  "url": "https://urgent.news/2026/08/27/indias-rbi-gives-banks-more-flexibility-in-swapping-overseas-dollar",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-27T14:12:55.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40436704/indias-rbi-gives-banks-more-flexibility-in-swapping-overseas-dollar-deposits"
  },
  "original_language": "en",
  "account": "The Reserve Bank of India (RBI) has granted banks the ability to swap overseas dollar deposits on multiple occasions within a week, according to recent reports. This flexibility comes as banks prepare to handle substantial inflows of dollars from non-resident Indians. The RBI's decision aims to assist banks in managing large dollar inflows before the end of a special deposit scheme on August 31, which has attracted over $65 billion so far. The move is part of the RBI's broader strategy to bolster its foreign exchange buffers and enhance confidence in the rupee. Banks are currently permitted to access the dollar-rupee swap facility once a week for transactions exceeding $100 million; however, swaps for smaller transactions remain limited to one day per week. The RBI has not yet commented on the announcement. By increasing the frequency of swaps, the central bank hopes to enable banks to offload excess dollars, thereby preventing potential market instability caused by an unexpected surge in dollar liquidity. This development occurred just days before the deadline of the special deposit scheme, which has been a crucial component of the RBI's efforts to attract overseas dollar inflows and strengthen its foreign-exchange reserves.",
  "summary": "MUMBAI: The Reserve Bank of India told banks on Thursday they could swap dollars raised from non-resident Indians more than once a week, three currency traders said, giving them flexibility to handle large inflows before its subsidised deposit scheme ends. The sources requested anonymity since they are not authorised to speak to the media. The move comes days before the August 31 deadline for a…",
  "key_points": [
    "RBI allows banks to swap overseas dollar deposits multiple times a week.",
    "Banks prepare to handle substantial inflows from non-resident Indians.",
    "Move aims to bolster foreign exchange buffers and rupee confidence."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}