New Delhi, July 10 -- The finance ministry has convened a high-level meeting of chiefs of public sector banks, IDBI Bank and other public financial institutions on 13 July to chalk out a strategy to mobilize foreign capital, according to an official document reviewed by Mint. The government wants to boost the inflow of funds through foreign currency non-resident (bank) [FCNR (B)] deposits, overseas foreign currency borrowings (OFCBs) and external commercial borrowings (ECBs).

The meeting, to be chaired by finance minister Nirmala Sitharaman, comes amid a broader push to strengthen the funding base of banks and attract overseas capital, the Department of Financial Services (DFS) said in the communication directing the heads of the institu...