Archive · 21 Jul 2026
Punjab & Sind Bank Seeks RBI Relaxations on FCNR(B) Deposits
Punjab & Sind Bank wants the Reserve Bank of India to make it easier for banks without foreign branches to use FCNR(B) deposits.
They aim to collect $25 billion through FCNR(B) and $75 million through other borrowing methods.
The bank also reported a 23% increase in net profit and plans to grow its business to ₹4 lakh crore by FY29.
They are also looking to raise ₹2,000 crore through a qualified institutional placement.
Punjab & Sind Bank seeks RBI relaxations on FCNR(B) deposits for lenders without overseas branches.
The bank aims to collect $25 billion through FCNR(B) and $75 million through ECB and OFCB.
Net profit increased by 23% in the June quarter, with a net interest margin of 2.53%.
The bank targets a net interest margin of 2.65% for the current fiscal year.
Punjab & Sind Bank plans to expand its business mix to ₹4 lakh crore by FY29.
- Who
- Punjab & Sind Bank
- What
- Seeking regulatory relaxations on FCNR(B) deposits and aiming to expand business mix
- When
- July 21, 2026
- Where
- India
- Why
- To support lenders without overseas branches and expand business
Banks with Foreign Branches
Banks without Foreign Branches
Advantage in Leveraging FCNR(B) Deposits
Banks with Foreign Branches
Banks with foreign branches have an advantage in leveraging FCNR(B) deposits as depositors prefer to place money with banks that have an overseas presence.
Banks without Foreign Branches
Banks without foreign branches are at a disadvantage as they cannot leverage FCNR(B) deposits as effectively.
- Bank Name
- Punjab & Sind Bank
- Target FCNR(B) Collection
- $25 billion
- Target ECB and OFCB Collection
- $75 million
- Net Profit Increase
- 23%
- Net Interest Margin (June Quarter)
- 2.53%
- Target Net Interest Margin
- 2.65%
- Business Mix Target by FY29
- ₹4 lakh crore
- Current Business Mix
- ₹2.66 lakh crore
- Fundraising Target
- ₹2,000 crore