Archive · 25 Aug 2026
SBI targets USD 10 billion before RBI swap window closes
The State Bank of India wants to raise about USD 10 billion from people and investors outside India.
Its chairman said most of this money will come through deposits.
The Reserve Bank of India is ending a special deposit-related currency swap facility on August 31.
This deadline was moved forward from September 30.
Another facility for public-sector companies borrowing from abroad will continue until December 31, 2026.
SBI also has a long-term plan to make its total business much larger.
The bank says its business could reach Rs 170-180 lakh crore, and possibly Rs 200 lakh crore, by 2030.
This growth depends partly on how quickly India’s economy expands.
State Bank of India Chairman C S Setty said the bank expects to mobilise about USD 9-10 billion by August 31.
Most of the funds are expected to come from non-resident deposits, with additional visibility from External Commercial Borrowings.
The Reserve Bank of India advanced the closure of its FCNR-B deposit swap window to August 31 from September 30.
A separate dollar-rupee swap window supporting public-sector undertakings’ External Commercial Borrowings remains available until December 31, 2026.
SBI aims to potentially increase total business from Rs 110.01 lakh crore in June 2026 to around Rs 200 lakh crore by 2030.
- Who
- State Bank of India and its chairman C S Setty, along with non-resident Indians and foreign investors.
- What
- SBI expects to mobilise about USD 9-10 billion as the Reserve Bank of India’s FCNR-B swap window closes.
- When
- The FCNR-B swap window is scheduled to close on August 31; the separate PSU-focused window remains open until December 31, 2026.
- Where
- The announcement was made in New Delhi.
- Why
- SBI is raising funds through deposits and External Commercial Borrowings, while pursuing a strategy to expand its total business by 2030.
- Expected mobilisation
- About USD 9-10 billion by August 31
- Main funding source
- Predominantly non-resident deposits
- FCNR-B window deadline
- August 31, advanced from September 30
- PSU ECB swap facility
- Available until December 31, 2026
- SBI total business
- Rs 110.01 lakh crore at the end of June 2026
- 2030 business ambition
- Potentially around Rs 200 lakh crore
- Projected balance-sheet growth
- About 11-12% annually if the Indian economy grows at 7-8%