Central Bank of India mobilises $250 million under FCNR (B) window: CEO Kalyan Kumar
Source: The Times of India· PTI· August 12, 2026
SynaBot summary
The Central Bank of India secured $250 million through its GIFT City branch using the Reserve Bank of India's FCNR-B deposit scheme. This amount significantly exceeded the bank's initial $100 million July target, with plans to reach $400 million by September.
Key takeaways
- Bank exceeded deposit target by over 150%
- GIFT City branch facilitated the fundraising
- Goal is to raise $400 million by September
Why it matters
This demonstrates how financial institutions are leveraging specialized deposit windows to attract foreign capital. For AI users in finance, it highlights evolving global funding mechanisms and potential new avenues for investment or operational capital.
This story was reported by The Times of India. Read the full original article:
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