Mumbai: State Bank of India expects the liquidity mobilised through the recent surge in foreign currency non-resident deposits to take another three to four months to get deployed into loans, chairman C S Setty said, indicating that the funding boost from the Reserve Bank of India’s special swap window could support credit growth over the coming quarters.“It (FCNR deployment) will take about three to four months for the deployment of the liquidity,” Setty said at the sidelines of Global Fintech Fest.Banks raised a record $127.23 billion of FCNR(B) deposits under the RBI’s special USD-INR swap facility before the window closed on August 31, strengthening their foreign-currency funding position.Setty also said he does not expect an increase in the policy repo rate at the RBI’s October meeting. “I don't think (repo rate hike) will happen in October,” he said.Separately, SBI is stepping up the use of artificial intelligence across customer engagement, productivity and risk management, with a sharper focus on agentic AI that can perform tasks with a degree of autonomy.You Might Also Like:“We are focusing on three major areas, adoption of agents in AI, customer engagement, hyper-personalization, productivity and risk management,” Setty said.SBI has already been using AI and machine learning in areas including chatbots, personal lending, credit assessment, cash-flow-based lending, early warning systems, fraud detection and anti-money laundering monitoring, Setty said. The bank is now moving towards agentic AI, where systems can go beyond assisting employees to carrying out tasks and responding to changing circumstances autonomously.Setty said AI agents could be deployed across the financial lifecycle, including KYC and AML processes, fraud detection, loan appraisal and underwriting, reconciliation, customer servicing and complaint management. Such systems could improve decision-making and reduce response times at the scale at which Indian banks operate.He also identified personalised financial advice as a significant opportunity. Agentic AI could extend financial intelligence, currently available largely to affluent customers through wealth management and premier banking, to hundreds of millions of customers, with much of the interaction taking place through mobile phones and voice-led interfaces.You Might Also Like:However, Setty cautioned that greater autonomy would require stronger controls. He proposed a “know your agent” framework covering agent identity, authentication, consent, transaction limits and audit trails as AI systems increasingly participate directly in financial transactions.He said AI in banking would have to be built around three principles — accuracy, accountability and access without asymmetry — while retaining human oversight for complex and high-risk financial decisions.