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The Economic Times
The Economic Times

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

Standard Chartered Bank United States FCNR B US Dollar

Mumbai (Maharashtra): Increased inflows through Foreign Currency Non-Resident Bank, or FCNR(B), deposits could give banks more liquidity to lend and support consumer demand during the festive season, former Standard Chartered Bank MD Sanjeev Mehta said on Thursday.

Speaking to on the sidelines of the Global Fintech Fest (GFF) in Mumbai, Mehta said banks receiving additional deposits would look to deploy the money as keeping such funds idle carries a cost.

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