New Delhi, July 12 -- State-owned Indian Bank is targeting $2 billion in foreign currency deposits under the Reserve Bank of India's (RBI) special FCNR(B) deposit window, with $140 million already achieved, said managing director and chief executive officer Binod Kumar in an interview. The key challenge is pricing, not demand for foreign currency, and banks should support RBI's objective of attracting dollar inflows, even on a 'no-profit, no-loss' basis if required.

"We have set a target of mobilising around $2 billion before the window closes, and I am hopeful we will achieve it. We already have a pipeline of nearly $1 billion. Once those transactions are completed and converted, we should be able to achieve the target," said Kumar.

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