State Bank of India (SBI) is confident of mobilising around $9–10 billion from non-resident Indians and foreign investors by the end of August, as the Reserve Bank of India’s concessional FCNR-B deposit swap window closes on August 31. SBI Chairman C S Setty said the mobilisation would come predominantly through deposits, with additional visibility for External Commercial Borrowings (ECBs). While the FCNR-B swap facility has been advanced by a month from the earlier September 30 deadline, the separate US dollar-rupee forex swap window supporting public sector undertakings raising ECBs will remain available until December 31, 2026. Looking ahead, Setty said SBI could potentially double its total business to around ₹200 trillion by 2030 under its Vision 2030 strategy. The country’s largest lender crossed ₹100 trillion in total business last year, with the figure rising to ₹110.01 trillion by June 2026. Setty said SBI’s growth would remain closely linked to the performance of the Indian economy, noting that sustained economic growth of 7–8 per cent could allow the bank’s balance sheet to expand by around 11–12 per cent annually. Based on this trajectory, SBI could reach ₹170–180 trillion in total business, or potentially ₹200 trillion, by 2030. The bank’s ambitious outlook comes as it seeks to strengthen foreign-currency mobilisation while maintaining its position as a key driver of India’s expanding financial system.
SBI Chairman Sees Strong Growth Potential Amid India’s Economic Expansion
