Progressing Towards the Future of e-banking

The State Bank of India constantly endeavours to create a digitally-empowered society with its cutting edge online banking solutions

By Mitchelle D’Souza

Published: Sun 15 Aug 2021, 11:39 AM

The State Bank of India (SBI), one of India’s largest bank, is spearheading digital innovation across its banking landscape through user-friendly solutions, multi-channel platforms, and technology-enabled backend operations allowing day-to-day banking to be easy, intuitive, paperless, and secure for its customers, anytime anywhere.

With a presence in 31 countries through 229 foreign offices, SBI has spread wings beyond national borders and embarked on a digital transformation journey. SBI aims to be in sync with the Government’s vision to create a digitally empowered society. Currently, 95 per cent of the banks' transactions are on alternate channels.

Globally, the bank serves 45.86 crore customers with a network of 22,224 branches and 63,906 ATMs in India. SBI is leading the Indian non-resident Indian (NRI) banking space with over 22.18 per cent market share. The bank has a 37 lakh strong NRI customer base serviced by over 82 exclusive NRI branches and 354 NRI intensive branches across India. As of March 2021, SBI’s NRI deposit base stood at $31.48 billion.

To enable NRI banking solutions, SBI has set up a centralised back-office for handling the gamut of non-financial services — customer support, lead management. In addition, SBI’s Intelligent Assistant (SIA), the Smart Chat Assistant, efficiently answers NRI queries across the globe through its website, ‘’.


SBI has tied up with 45 exchange companies and five banks located in the UAE, Oman, Kuwait, Bahrain, Qatar, and Saudi Arabia to facilitate NRI remittances to India. The bank also offers a web-based transaction tracker tool to track these remittances. In addition, the bank has put in place the technology through INB that allows fully automated outward remittances from NRE accounts up to Rs1 million or equivalent in foreign currency/day in USD, EUR, GBP, SGD and AUD to 209 overseas destinations. NRI’s can place a balance enquiry and request a mini statement through SBI’s Quick App and avail instant loans against NRE and NRO fixed deposits through the internet banking facility.

In the UAE, SBI has representative offices in Dubai and Abu Dhabi for NRIs. In GCC, the bank has a presence in Bahrain and Oman. It manages the Mustafa Sultan Exchange Company and Global Money Exchange Company in Muscat, and City Exchange Co. in Dubai.

On the social media spectrum, SBI continues to bag the top spot in the list of its followers on Facebook and YouTube among all the banks in the world.

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