India, Sept. 12 -- State-owned lender Bank of India has mobilised USD 2.2 billion (around Rs 20,000 crore) through FCNR(B) deposits, which will largely replace bulk deposits and provide liquidity sufficient to meet about three months of the bank's lending needs, a senior bank official said on Friday.

The liquidity garnered through FCNR(B) deposits will help the bank meet its lending requirements for roughly one quarter, while reducing its reliance on bulk deposits, the official said.

"We have mobilised USD 2.2 billion deposits through FCNR (B) scheme, which translates to roughly around Rs 20,000 crore, which will replace the bulk deposits. The liquidity garnered through FCNR (B) will take care of just one quarter lending needs," said Ra...