SBI to deploy $127.23bn RBI USD-INR swap liquidity for lending
State Bank of India (SBI) is gearing up to deploy the liquidity from the $127.23 billion raised by banks through a special Reserve Bank of India (RBI) USD-INR swap facility, aiming to boost lending in the next few months.
The announcement came from Chairman C S Setty at Global Fintech Fest 2026, with hopes that this cash injection will help fuel India's credit growth.
SBI proposes 'know your agent' framework
Alongside the liquidity push, SBI is expanding its use of agentic AI for things like fraud checks, loan appraisal and underwriting, and know-your-customer checks, or KYC.
Setty sees these smarter systems helping hundreds of millions of customers get personalized financial advice right on their phones.
To keep things safe as AI takes on more tasks, Setty proposed a "know your agent" framework covering agent identity, authentication, consent, transaction limits, and audit trails, so efficiency doesn't come at the cost of accountability.