India, Sept. 10 -- Private sector lender Axis Bank's managing director and chief executive Amitabh Chaudhry on Wednesday said the over USD 127 billion of FCNR(B) deposits could lead to some "abnormal lending".

Speaking at the annual Global Fintech Fest 2026 here, the head of the third-largest private sector lender cautioned fellow bankers to be "careful" about the way they deploy the huge sums raised from the diaspora under the concessional swap deal announced by the RBI.

"FCNR could lead to some abnormal lending, because we will have to deploy this," Chaudhry said, adding that he "hopes" that bankers do not do that.

It can be noted that banks have collected over USD 127 billion in FCNR(B) deposits under the limited period scheme annou...