Govt taps inputs from PSBs to lure foreign capital
The Indian government has convened a two-day meeting with state-owned lenders to explore strategies for attracting foreign investments, with the aim of stabilising the rupee and addressing the widening current-account deficit. The annual PSB Manthan, scheduled for August 17 and 18 in New Delhi, will see Finance Minister Nirmala Sitharaman review proposals from bankers.
The meeting will focus on deposit mobilisation, encouraging investors to establish global capability centres in India, strengthening funds for medium and small enterprises, and supporting the agriculture and horticulture sectors. Key stakeholders, including the leaders of all PSU banks, will attend the gathering, which economists believe will help bolster foreign exchange reserves, boost domestic manufacturing, and promote long-term economic growth.
Foreign capital inflows are crucial for India, as the country currently faces a current-account deficit, indicating that domestic savings are insufficient to fund domestic investments.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
Also reported by 1 other outlet
- Govt taps inputs from public sector banks to lure foreign capital economictimes.indiatimes.com
