Smaller and mid-sized banks are approaching the GIFT City branches of Indian lenders to access the leverage-backed FCNR(B) deposit mobilisation opportunity opened up by the Reserve Bank of India (RBI), as they lack the overseas presence and operational capabilities needed to directly navigate stringent foreign compliance requirements, bankers said. “Since we do not have foreign branches, we would have to connect with foreign branches of Indian banks or with foreign banks for leverage,” said a treasury official at a small finance bank, adding that they are reaching out to banks with whom they already have an existing relationships.