The International Financial Services Centres Authority (IFSCA) reported that 20 IFSC Banking Units (IBUs) at GIFT IFSC had sanctioned USD 54.02 billion under the Reserve Bank of India’s special swap facility for FCNR(B) deposits as of Aug. 31, 2026, with about USD 52.82 billion disbursed. Sanctions rose from USD 28.60 billion on Aug. 14 to USD 37.26 billion on Aug. 21 before reaching USD 54.02 billion at month-end, with participation from Indian and foreign banks. Activity also expanded across other forms of external financing. IBUs disbursed USD 11.62 billion in external commercial borrowings from April through August 2026, while monthly disbursements increased from USD 1.54 billion in April to USD 3.54 billion in August. Indian banks also raised USD 11.12 billion through bond listings on IFSC exchanges during the five-month period, including USD 9.17 billion listed in July and August.
2026-09-02India International Financial Services Centres Authority
India's International Financial Services Centres Authority reports USD 52.82 billion disbursed through GIFT IFSC under FCNR(B) swap facility
IFSCA reported that 20 GIFT IFSC banking units had sanctioned USD 54.02 billion under the RBI’s FCNR(B) swap facility by Aug. 31, 2026, with USD 52.82 billion disbursed. The units also disbursed USD 11.62 billion in external commercial borrowings from April through August, while Indian banks raised USD 11.12 billion through IFSC bond listings.