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Home – Texas Politics & News – ‘Not Simply Another Community Bank’: Critics Sound Alarm Over New Indian Bank in Texas

‘Not Simply Another Community Bank’: Critics Sound Alarm Over New Indian Bank in Texas

The State Bank of India has announced it is opening a new branch in Frisco, Texas, with critics raising concerns about Indian workers sending remittances back to India with minimal fees.

The branch is expected to open in mid-September and will be located off Coit Road.

The Indian population in the Dallas-Fort Worth area is estimated at about 230,000, with many being in the U.S. on H-1B visas. The population increased by 20% from 2020 to 2024 as the federal government continued approving H-1B visas.

The bank’s website states that customers can send remittances—money foreign workers send back to their home countries—with zero transfer fees. 

Online customers can send up to $50,000 per day, while mobile customers can send up to $25,000 per day, according to the bank’s website. There is no stated limit for remittances sent from a branch. The bank specializes in remittance services to India and Bangladesh. 

Employees at the bank speak multiple languages, including English, Hindi, Punjabi, and other Indian languages.

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