SBI expects to mobilise about $10b via FCNR(B) deposits by Sept-end 2026
BusinessLine 1 hr ago·7 Aug 2026, 3:12 pm
State Bank of India (SBI) has announced plans to raise approximately $10 billion through Foreign Currency Non-Resident (Bank) (FCNR(B)) deposits by September 2026. These are foreign currency deposits held by non-resident Indians, which the bank will convert into Indian rupees to fund its domestic lending operations.
This strategic move is significant for investors as it provides the bank with a clear visibility on its future liquidity. By securing these funds in advance, SBI aims to reduce its dependence on expensive bulk domestic deposits, which can be volatile. This stability is expected to improve the bank's net interest margins and overall financial health.
Investors should watch the execution of this plan. The success of the deposit drive will depend on the bank's ability to attract NRI interest in a competitive global environment. Furthermore, the impact on the bank's cost of funds and asset quality will be key factors to monitor in the coming quarters.
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