India hosts PSB Manthan in New Delhi to attract FDI
India's government is hosting an annual two-day PSB Manthan meeting in New Delhi on August 17-18, aiming to attract more foreign investment and boost the country's foreign exchange reserves.
With rising energy import costs pushing up the current account deficit, Finance Minister Nirmala Sitharaman will hear ideas from public-sector bank leaders to help steady the economy.
PSB Manthan targets deposits and SMEs
Besides investment strategies, the meeting will look at ways banks can encourage people to deposit more money, support small businesses, and strengthen agriculture.
Experts say long-term foreign direct investment (FDI) is more durable, sticky, and preferable, and that fresh foreign capital inflows help build foreign exchange reserves and support long-term economic growth.
The hope is that fresh ideas from this meeting will help India handle rising crude prices and keep its finances healthy for the future.