SBI Secures Nearly 20% of Total Inflows Under RBI’s Concessional Swap Window

The State Bank of India (SBI) successfully raised $7.5 billion through the Reserve Bank of India’s concessional swap schemes, representing nearly a fifth of the total funds secured by banks up to July 31. This overall amount was driven by $6 billion collected through Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits, alongside $1.5 billion generated via foreign currency bonds. SBI's bond capital specifically comprised $1 billion in overseas foreign currency borrowings and $500 million issued in two separate tranches of unsecured floating rate notes. Other major public sector lenders also recorded notable participation under the RBI swap facility during the same timeframe. Institutions like Canara Bank, Indian Bank, and Bank of Baroda each crossed the $1-billion threshold in FCNR(B) deposits. Meanwhile, Punjab National Bank had accumulated $425 million by mid-July as it continues working toward its broader goal of raising $2.5 billion. $SBIN $BANKBARODA $CANBK