The Economic Times

FCNR(B) inflows can boost bank lending, support festive demand: Former Standard Chartered Bank MD Sanjeev Mehta

Foreign Currency Non-Resident Bank deposits are significantly enhancing banking liquidity, providing an essential boost for lending opportunities. This heightened liquidity is expected to meet the anticipated consumer demand during the festive season. To avoid financial losses from idle deposits, banks must judiciously allocate these funds. Additionally, this surge in inflows has contributed to stabilizing the rupee against the US dollar.