New Delhi, Sept. 8 -- SBM Bank India, the Indian subsidiary of the SBM Group in Mauritius, mobilized about $100 million through the Reserve Bank of India's recently concluded special foreign-currency non-resident bank (FCNR-B) deposit window.

Banks across the country raised $127.23 billion through the facility, one of the largest such deposit mobilization exercises in recent years.

The exercise was a "wonderful opportunity" for banks, helping SBM India strengthen its retail deposit franchise while bringing new customers into its fold, Amit Jagdhari, executive director and chief financial officer of SBM Bank India, said in an interview with Mint.

SBM Bank India initially offered interest rates of about 6.5% on the FCNR(B) deposits and i...