The Reserve Bank of India's special swap facility attracted $20.7 billion in total foreign currency inflows as of July 17, according to data released by the central bank on Monday.

A majority of the funds, amounting to $17.4 billion, came via Foreign Currency Non-Resident (Bank), or FCNR(B), deposits. The central bank's terms allowed lenders to offer elevated yields on non-resident Indian foreign currency accounts.

Companies have also raised $1.34 billion through external commercial borrowings (ECB), while overseas foreign currency borrowings (OFCB) brought in another $1.97 billion, the RBI said.

Unveiled on June 5 and operationalized on June 8, the special swap window was designed to reinforce India's external capital buffer and support the rupee.

The RBI noted that the concessional swap facility for FCNR(B) deposits will remain open through Sept. 30, while the window for OFCBs and ECBs will continue through Dec. 31.