The scale of financing required by India over the coming decades is unprecedented, with internal assessments pegging incremental investment requirement of nearly Rs 200 lakh crore by 2030 and another Rs 450 lakh crore by 2047, according to SBI Chairman Challu Sreenivasulu Setty.
These investments will be required across infrastructure, manufacturing, energy transition, urban development, MSMEs and innovation, Setty said at the Citi Investor Conference.
“For banks to support India’s aspirations, they themselves must evolve. The future banking model must be built on some key pillars, ensuring access to banking services across every segment of society and economy….integrating environmental, social and governance considerations into financing decisions and operations, maintaining the highest standards of governance, consumer protection and risk management,” he said.
Setty said the global economic order is being redesigned in real time, with supply chains shifting and manufacturing being reconfigured.
“Technology is redefining productivity. New growth centres are emerging. India enters this scenario from a position of strength,” he said. Green finance will become another defining opportunity.
While the journey to “Viksit Bharat (Developed India) will undoubtedly be challenging, the SBI chief emphasised that “it is also one of the most compelling growth stories of our time. India has already demonstrated how (financial) inclusion can be achieved at scale.”
He observed that the next chapter is to demonstrate how inclusion can be transformed into prosperity at scale.
“The banking sector will be at the heart of the transformation not merely as providers of credit but as mobilisers of savings, enablers of entrepreneurship, allocators of capital and partners in national development.,” Setty said.
To a specific question on the impact of West Asia war on the banking system and demand, the SBI chief said: “We have not seen any major impact of the West Asia conflict on asset quality so far. But we have to be watchful. Credit demand seems to be robust. Growth seems to be robust across sectors. We have not seen any demand constraints at this juncture.”
Published on June 3, 2026
