rupee recycling. The strategy mirrors Japan’s infra financing model but extends it to strategic sectors, creating a win-win situation for both Russia and India

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Russia’s largest bank, Sberbank on Friday said that it sees major ‌opportunities for India-Russia bilateral trade settlements through central ⁠bank digital currencies (CBDCs). The bank also plans to open 10 branches in India.Addressing a media briefing here, Sberbank CEO German Gref said that trade settlement in CBDCs is much ‌more efficient. Further he informed that the bank has been using surplus rupees to support ‌liquidity, including investments in Indian government securities. Talking about bilateral trade settlement in rupee terms, Gref said, “Our system is now working more efficiently than before. Last year, we had a problem of surplus rupee, but there is no such issue this year,” he said.Currently, the bank is operating in India on a branch model with offices in New Delhi and Mumbai. Now, it plans a New Delhi business hub by 2028 and is developing a bilateral IT ‌platform to connect Indian and Russian companies. It aims to boost Indian exports ⁠to narrow what it called a ⁠roughly $50 billion trade imbalance, Gref said.The bank has sought 10 branch licences from the RBI to be opened across 10 cities. “We are awaiting approval from the local regulator,” Gref said. Asked if the bank is planning to convert into a wholly owned subsidiary, he said: “There is no immediate plan.” Besides, he said, the bank has acquired two Summit Towers business centres in New Delhi, which should be ready by 2028.The acquisition of these properties in the Indian capital will create a new foundation for long-term partnership, he said, adding that Sber is consistently expanding its presence in the country, and this investment is part of that strategy.On promoting investment, Gref said recently the bank has launched a product for its account holders to invest in Nifty 50 stocks. Besides, he said it will also seek the right partners to bring new technology in high tech, education and healthcare. Sberbank is also interested in partnership and participation in large-scale infrastructure projects in India.India and Russia are working towards achieving the target of USD 100 billion in bilateral trade and $50 billion in two-way investment by 2030. At present, bilateral trade stands at $60 billion.Published on September 11, 2026