Finance ministry calls lenders for meeting on 13 July to review, step up foreign currency mobilization
The Finance Ministry has scheduled a meeting for 13 July, chaired by Finance Minister Nirmala Sitharaman, to strategize on enhancing foreign currency mobilization. This initiative follows the Reserve Bank of India's recent measures to boost foreign currency non-resident deposits and overseas borrowings, addressing the growing gap between bank credit and deposit growth. The meeting will involve chiefs of public sector banks and aims to strengthen the funding base and attract overseas capital.