On SBI Q1 Results, FCNR-B Deposits, Repo Rate Expectations & Growth Plan: SBI Chairman CS Setty

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SBI Chairman C.S. Setty discusses the outlook for interest rates, credit growth, FCNR-B deposits, capital raising plans and key priorities for India’s banking sector. In this interview, Setty says SBI does not expect a repo rate hike over the next 2–3 quarters and sees loan and deposit rates remaining largely range-bound. He also highlights improved system liquidity, supported by FCNR-B deposit inflows and RBI measures. Key highlights: • SBI has raised around $6 billion through FCNR-B deposits so far and sees potential to raise another $4 billion, taking the total to about $10 billion by September. • FCNR-B mobilisation is being driven largely through GIFT City. • SBI expects nominal GDP growth of around 12% in FY27 and traditionally targets credit growth 2–3 percentage points above nominal GDP growth. • Credit growth has remained broad-based across products in Q1 and Q2. • SBI is working on Expected Credit Loss (ECL) models and expects to complete model testing on its technology pl

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