The RBI also clarified that under the special swap facility, it will bear the hedging cost only on the principal amount of eligible FCNR(B) deposits and not on the interest component.
The Reserve Bank of India has issued clarifications regarding queries on the FCNR(B) special swap facility. The RBI has also permitted banks to grant loans against these deposits. Furthermore, the central bank will bear hedging costs solely on the principal amount of eligible…
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