The new tool will help Russian purchasing companies increase imports from India, expand cooperation with partners, and reduce risks when working with Indian suppliers
Sber has marketed a rupee-denominated letter of credit with deferred payment for purchases in India, a new financial product for importers. The solution is unique in that Sber will settle payments with Indian suppliers in rupees immediately upon submission of supporting documents for the delivery of goods to the bank, while providing the Russian buyer with the option to reimburse the payment later when the deferral period ends.
The structure of the transaction using a letter of credit will reduce potential risks, while the use of deferred payment will increase the attractiveness of the deal terms for all participants. Sber’s new tool will assist medium and large businesses in purchasing from both new and current Indian partners.
Anatoly Popov, deputy chairman of the Executive Board, Sberbank:
“We are continuously looking for new solutions to give Russian and Indian businesses convenient tools facilitating effective cooperation. Thanks to Sberbank’s branch in India, we can offer our clients products in rupees. We have been conducting pilot operations with deferred payment financing under letters of credit in Indian currency since the summer of 2025 and have confirmed the interest of our clients in this framework. The bank can finance up to 100% of the cost of a shipment from India, with the interest rate for using the deferred payment being several points lower than the rate for a ruble loan. I am confident that this Sber tool will help Russian companies increase the reliability and security of transactions with Indian partners and will contribute to further growth in trade between our countries”.
Svetlana Suvorova, financial director, OOO SK Trade (Snow Queen chain):
“The letter of credit approach to operations with Indian suppliers through Sber has positioned us to strengthen and expand our cooperation, becoming a key tool for diversifying supplies and optimizing financial flows. We have gained the ability to purchase more without higher risks, while our partners have gained confidence in guaranteed payments. This is a truly effective tool for increasing the turnover of our company and minimizing costs throughout the entire chain of interaction”.
Depending on the terms of the letter of credit, the Indian supplier will be able to receive payment in advance or after delivering the goods to the Russian buyer, who will have the option to make payment under the letter of credit with a deferral of up to six months.