State-owned lender Central Bank of India has mobilised USD 250 million under the FCNR-B window introduced by the Reserve Bank of India (RBI), a senior bank official said on Wednesday.
Central Bank of India has surpassed the USD 100 million target set for July, garnering USD 250 million.
“We have surpassed the July target set internally, and mobilised USD 250 million under FCNR – B,” Kalyan Kumar, Managing Director and Chief Executive Officer of Central Bank of India, said on the sidelines of the annual FIBAC event here.
He said that the Central Bank of India has raised funds through its GIFT City branch and has set a target of USD 400 million by September end, the closure date fixed by the RBI for the special swap window.
During the post-June quarter earnings conference, Kumar had said that the Bank expects to accumulate a total of USD 400 million.
A senior executive of the Bank had earlier said that it is looking to raise the deposits from the Middle East and Australian markets.
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