GIFT IFSC banking units disburse $52.8 billion under RBI's FCNR(B) swap facility
On 2 September 2026, IFSCA said 20 IFSC Banking Units at GIFT City had disbursed about $52.82 billion under the RBI's FCNR(B) swap facility by 31 August 2026.
Summary
The International Financial Services Centres Authority (IFSCA) said on 2 September 2026 that 20 IFSC Banking Units (IBUs) at GIFT City had sanctioned $54.02 billion under the Reserve Bank of India's special swap facility for FCNR(B) deposits by 31 August 2026, of which about $52.82 billion has been disbursed. Sanctions rose from $28.60 billion on 14 August to $54.02 billion by 31 August. GIFT IFSC IBUs also disbursed $11.62 billion of external commercial borrowings in April–August 2026, and Indian banks raised $11.12 billion through bond listings on IFSC exchanges.
Key facts
- Regulator
- International Financial Services Centres Authority (IFSCA)
- FCNR(B) swap
- $54.02 bn sanctioned, ≈$52.82 bn disbursed by 20 IBUs (to 31 Aug 2026)
- ECBs
- $11.62 bn disbursed, Apr–Aug 2026
- Bond listings
- $11.12 bn by Indian banks on IFSC exchanges
Practice MCQs 2 questions
How much had IFSC Banking Units at GIFT City disbursed under the RBI's FCNR(B) swap facility by 31 August 2026?
Show answer
Correct answer: B — About $52.82 billion
20 IBUs sanctioned $54.02 billion, of which about $52.82 billion had been disbursed.
Which authority regulates the International Financial Services Centre at GIFT City and reported the IBU figures in September 2026?
Show answer
Correct answer: A — International Financial Services Centres Authority (IFSCA)
The International Financial Services Centres Authority (IFSCA) highlighted the IBU figures.