RBI — Indian state-owned firms ask RBI for 3-month extension on concessional forex swap

A group of leading public sector undertakings (PSUs) has requested the Reserve Bank of India (RBI) to extend its special concessional foreign exchange swap facility by three months. The facility, which supports lower-cost hedging for External Commercial Borrowings (ECBs), is currently set to expire on December 31. PSUs argue an extension through March 2027 is crucial for funding capital expenditures, which typically peak in the final quarter of the financial year.