SBI to promote India-Israel trade in rupee

Business Jan 05, 2026

SBI is making it easier for India and Israel to trade directly in Indian rupees. This move comes as both countries get closer and talk about a possible Free Trade Agreement.
SBI's branch in Tel Aviv—the only Indian bank in Israel—will handle these trades using a special account designed just for rupee transactions.

How SBI is making it happen

V Manivannan, CEO of SBI Israel, shared that the bank is teaming up with the Israel-India Chamber of Commerce and hosting webinars to help businesses understand this new system.
Besides supporting big trade deals (including defense), SBI is facilitating NRI accounts and remittances for Indians working in Israel.
All this adds up to stronger economic ties between the two countries.