FM Sitharaman to Review Foreign Currency Drive With PSB Heads

The meeting, scheduled for July 13, 2026, will bring together the chiefs of public sector banks and financial institutions to assess the progress of their ongoing campaign to mobilize foreign currency deposits.

According to officials familiar with the matter, the review will focus on the targets achieved so far and the strategies employed by banks to attract deposits from non-resident Indians and other sources.

The finance minister is expected to emphasize the need for accelerated efforts to boost foreign currency inflows, which are seen as a key buffer for the country's external finances.

Banks are likely to present their individual performance reports and discuss challenges, including competition from overseas banks and market volatility.

The meeting comes amid broader government efforts to shore up foreign exchange reserves and stabilize the rupee, with the deposit drive being a central component of that strategy.