# Govt meets PSBs to attract foreign capital, stabilise rupee

2026-08-09T20:48:22+00:00 | Governance | Indian Opinion Desk

Corroboration: 1 independent outlet

The government has called a two-day meeting with state-owned lenders on August 17-18 to attract foreign investment and stabilise the rupee. Finance minister Nirmala Sitharaman will review proposals on the second day. The PSB Manthan will also discuss deposit mobilisation, MSME credit, and global capability centres. Separately, foreign banks have surged their FCNR deposits from $603 million to $8.97 billion since the RBI's dollar-swap facility was announced in June. HSBC and Standard Chartered led the inflows, with the rupee hitting a record low of 96.96 in May. Economists say durable FDI is needed over short-term deposits, as India's current-account deficit is expected to widen to 1.5-1.7% of GDP in FY27 due to crude oil prices.

## Coverage

- economictimes.indiatimes.com <https://economictimes.indiatimes.com/industry/banking/finance/banking/govt-taps-inputs-from-public-sector-banks-to-lure-foreign-capital/articleshow/133074157.cms>
- livemint.com <https://www.livemint.com/economy/dollar-race-foreign-banks-ramp-up-fcnr-deposits-narrow-gap-with-locals-11786255279367.html>

Tags: current-account deficit, foreign investment, PSB Manthan, rupee, state-owned banks
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