Banks Collect Over $25bn From Special Dollar Swap Window: RBI

"There are some multilateral institutions who have taken some time to sanction the loans and release it. What we have said is that there is a commitment that they will be releasing so we have given time up to December 31 for the banks to take loans under tier-I from international financial institutions, multilateral financial institutions," he said.

"The transaction has to be booked before November 30. Forward to forward can be done up to December 31. This is limited only to banks that are on the process of negotiations with international financial institutions. We have issued a circular on this," he said.

Asked if the RBI is considering an extension of the dollar-swap facility for oil marketing companies, Khan said, "In a calibrated manner, it is happening. And quite a big chunk is already there in the market...We don't foresee any problem."

The swap windows have helped the rupee to gain almost 11 per cent since they were announced.

Economic affairs secretary Arvind Mayaram said last week, "Till November 30, the FCNR-B window is open. We might even touch $25 billion."

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