Forex Reserves Current Affairs for UPSC

Indian banks have mobilised about $17.4 billion in fresh Foreign Currency Non-Resident (Bank), or FCNR(B), deposits under a special Reserve Bank of India (RBI) swap window opened to attract foreign capital, support a weakening rupee and rebuild foreign exchange reserves. Along with overseas foreign currency borrowings and external commercial borrowings, total inflows through the concessional swap facility reached $20.72 billion up to 17 July 2026. This article explains what FCNR(B) deposits are, how the swap and hedging mechanism works, the macroeconomic context of rupee pressure and falling reserves, and how the scheme compares with the RBI's 2013 measure.