21-July-2026
Banking
 
‘Will use FCNR flows to retire high-cost deposits,’ says Punjab National Bank MD & CEO Ashok Chandra
20-Jul-2026

n an interview, Punjab National Bank MD & CEO Ashok Chandra tells Manju AB about the bank’s FCNR(B) plans, drive to grow deposits and plans to enter the wealth business. Is the target of garnering $2.5 billion in FCNR(B) deposits too ambitious, despite PNB being one of the early movers in the game? We are an agile organisation and have a good non-resident Indian (NRI) customer base. We are engaging in various activities to reach out to them through social media, WhatsApp, and emails. We have also planned specific outreach programmes. NRIs are showing a lot of interest on these deposits, and we are confident of achieving our target of $2 billion to $2.5 billion.

News Source:- https://www.financialexpress.com/business/banking-finance-will-use-fcnr-flows-to-retire-high-cost-deposits-says-punjab-national-bank-md-amp-ceo-ashok-chandra-4296019/