- Nirmala Sitharaman will meet public sector bank (PSB) heads to review progress of foreign currency deposits campaign.
- The aim is to attract NRI/OCI investors to deposit money in Indian banks.
- Reserve Bank of India has removed interest rate limits (till Sept 30) on FCNR(B) deposits (3–5 years) to make them more attractive.
- This step is needed because foreign deposits have fallen sharply:
business-standard