You are aware of the efforts being taken by the Reserve Bank to increase awareness and upscale digital payment adoption in the country. The 'RBI Kehta Hai' has become a popular phrase in the country. The Digital Payments Awareness Week (DPAW) was celebrated recently. I take great pride in participating in such programmes.
Funds in foreign currency deposits can also be utilized for lending to domestic corporates for working capital requirements in India, import financing, purchase of indigenous machinery, repayment of rupee term loans and external commercial borrowings. Banks have also been extending credit for investment in the asset market.