‘Will use FCNR flows to retire high-cost deposits,’ says PNB MD & CEO Ashok Chandra
PNB’s MD & CEO Ashok Chandra reveals plans to attract $2.5 billion in FCNR(B) deposits and expand their NRI customer base. The bank is confident in achieving its target and has seen a 17% growth in current account deposits. PNB also aims to enter the wealth management business, but will not offer higher leverage for deposits.