State Bank of India: Modern and progressive bank

State Bank of India: Modern and progressive bank
Rajnish Kumar, Chairman, SBI

SBI continues to evolve its legacy by offering a plethora of digital banking options

Published: Fri 26 Jan 2018, 4:07 PM

Last updated: Sun 28 Jan 2018, 6:13 PM

State Bank of India (SBI), India's largest banking and financial services provider, has been playing a pivotal role in the banking and financial services sector for more than 200 years. It is a household name in India with a wide network of more than 22,000 branches and 59,000 ATMs. Today, it is the most followed bank on social media and its Internet banking portal is the most accessed platform in India, thereby creating a buzz in digital space to inspire future generations.
Recently, SBI launched YONO (You Only Need One) app bringing lifestyle and banking on a single digital platform to offer best in class customer experience. SBI unveiled its new brand identity on April 1, 2017, designed to position it as a modern and progressive bank. A Global NRI Centre (GNC) has been commissioned, which will further improve customer experience by centralising most of the services available to NRIs.
These include account opening, customer support, complaint management etc. GNC will be a one-stop back office solution for both customer support and complaint resolution for the bank's NRI customers. It also launched 'SBI Exclusif' - Wealth Management services for high net worth customers to manage and grow their wealth by offering a range of investment options across all asset classes supported by best-in-class expertise. The bank is in the process of launching it shortly for its NRI customers in the UAE.
SBI embarked on its international journey with the opening of its first international branch in Colombo in 1864. Today, it boasts of 207 offices in 35 countries (as of December 31, 2017). In the UAE, SBI has a Corporate Banking Branch at DIFC, facilitating trade and industrial business related banking requirements between the UAE and India.
SBI has two representative offices, one in Dubai and another in Abu Dhabi, for servicing NRI clients exclusively. It also has a presence in Bahrain and Muscat, Oman, and has placed a team of dedicated NRI Relationship Managers in these countries.
NRI customers can now enjoy its banking services from any part of the world with a range of online facilities like account opening, in-principle sanctions of loans and instant remittances. More customer friendly initiatives are in the pipeline.

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