New Delhi, July 14 -- The government has asked public sector banks to step up efforts to mobilise foreign currency deposits from non-resident Indians (NRIs) as part of measures to strengthen India's foreign exchange reserves and support the rupee.

Government Pushes NRI Deposit Mobilisation

At a meeting on Monday, Finance Minister Nirmala Sitharaman directed state-owned banks to intensify engagement with the Indian diaspora through outreach programmes, digital channels and innovative foreign currency deposit products, according to an official statement.

Separately, Reserve Bank of India (RBI) Governor Sanjay Malhotra is scheduled to meet the heads of public and private sector banks to review strategies for increasing overseas deposit in...