Faster Payments, AI Push Drive India-Russia Trade Expansion: Sber

Russia’s Sber has outlined an expanded framework for cooperation with India across finance, technology, and trade facilitation , highlighting how rapid digital payments and local currency systems are helping sustain trade flows despite global financial restrictions.

Speaking at SPIEF 2026, Alexander Vedyakhin , First Deputy Chairman of Sber’s Executive Board, said the bank is strengthening financial infrastructure to support growing India-Russia economic ties, particularly for small businesses and exporters.

A key development is the rollout of factoring services for Indian MSMEs from April 1, 2026. The service allows small and medium enterprises to unlock working capital against receivables with deferred payments of up to 180 days, without collateral, and is compliant with Indian regulations. Sber also noted increasing demand for rupee-denominated banking services , including online rupee deposit accounts offering up to 7% interest, which can also be used as loan collateral. Rupee account usage has risen over 60% in the past year.

A major highlight is the role of faster payment systems in strengthening bilateral trade , with over 90% of India-Russia transactions now processed online in under 10 minutes. This rapid settlement mechanism has reduced delays, improved liquidity for businesses, and helped sustain trade flows amid evolving global financial constraints. The issue of “stuck rupees,” previously a concern, has reportedly been resolved, with full-scale currency conversion now possible.

Sber has also introduced rupee-based lending for importers and exporters involved in pharmaceuticals, machinery, and consumer goods trade. Its business development platform, launched in 2024, now accounts for around 3% of bilateral trade facilitation, with transaction volumes in 2026 rising tenfold year-on-year.

Beyond finance, Sber is expanding AI collaboration with India , with over 250 engineers working in its Bengaluru hub on GenAI-driven enterprise solutions. The focus is on developing “sovereign” AI systems tailored to domestic business and regulatory needs.

The bank also plans to open a new office in Delhi and expand educational initiatives with HSE University to support cross-border entrepreneurship and business integration.