State Bank of India (SBI) facilitates rupee trade settlement with Israel

Exam-focused facts from the 7 January 2026 current affairs briefing.

Key facts

State Bank of India (SBI) is the only Indian bank with a presence in Israel.
SBI Tel Aviv has all requisite approvals to facilitate settlement of exports and imports in Indian rupees.
Israel has been identified as a partner country under the RBI mechanism for rupee trade settlement.
SBI Tel Aviv is working to streamline rupee remittances for over 40,000 Indian workers in Israel.
SBI opened its Israel branch in 2007 and operates from the Diamond Exchange in Ramat Gan.