The market, which is expected to post over Dh100 billion in sales through more than 30,000 transactions in first quarter, will sustain steady increase in transactions and prices throughout the year
With presence in 32 counÂtries with 233 foreign offices, country's largest bank, State Bank of India (SBI) has embarked on a journey of digital transformation with the support of its millions of valued customers and employees.
SBI is maintaining its digital leadership across channels and in sync with the governÂment's vision to create a digitally empowÂered society along with a cashless and a knowledge-driven economy. Ninety-three per cent of the bank's total transactions are taking place through alternate channels. SBI has aligned its business performance with the national priority of building a robust digital ecosystem and accelerating financial inclusion at all levels.
SBI, with the largest network of more than 22,000 branches and more than 58,000 ATMs, serves more than 44 crore customers with customised products and services that include its diverse loan portfolio. SBI's deÂposit base, worth more than Rs35 lakh crores, is a testament of customers' trust and confidence in the bank. It has more than 36-lakh strong NRI customer base, who are being catered by more than 80 exclusive NRI branches and 283 NRI intensive branches across India.
To ensure that all its NRI customers can avail services at just one-stop, SBI has set up a centralised back-office, the Global NRI Centre (GNC), for handling the entire gamÂut of non-financial services to ensure timeÂly onboarding of customers, lead and query management under one roof. SBI Intelligent Assistant (SIA), also known as Smart Chat Assistant, evolved from cutting-edge techÂnology, efficiently answers queries, and is also available to its NRI customers across the globe through its website, bank.sbi.
In the UAE, SBI has two representative offices - in Dubai and in Abu Dhabi - for servicing NRI clients exclusively. In the rest of the GCC, it enjoys a presence in Bahrain, Oman, and also manages the Mustafa SulÂtan Exchange Company and Global Money Exchange Company in Muscat (Oman), and City Exchange Co. in Dubai.
To channelise NRI remittances to India, SBI has tied-up with 45 exchange compaÂnies and five banks located in the UAE, Oman, Kuwait, Bahrain, Qatar and Saudi Arabia. To track remittances SBI offers a web-based transaction tracker tool to NRIs/ Exchange companies/banks through its rupee remittance products viz. SBI Rupee Express, SBI Rupee Instant, and SBI Rupee Flash.
On the social media spectrum, SBI conÂtinues to bag the top spot in the list of its followers on Facebook and YouTube among all the banks in the world.
The bank had last year launched the YONO Global app in the UK and Mauritius. Recently SBI also launched the Yono GlobÂal app for its NRI Customers in Maldives and Canada. The app allows NRI customÂers with accounts in respective countries and in India to access both accounts through one app, thereby improving cusÂtomer experience and ease of use. The app would also allow them to change their adÂdress, e-mail, mobile numbers online. It also comes with a strong cordon of device binding to protect the security of customÂer funds.
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The market, which is expected to post over Dh100 billion in sales through more than 30,000 transactions in first quarter, will sustain steady increase in transactions and prices throughout the year
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