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SBI: A fintech banker to every Indian May 3, 2021, 11:32 PM IST The author is Chairman, State Bank of India. In January this year, Standard & Poor (S&P) in its report ‘Tech Disruption in Retail Banking’ recognised that digital disruption in India poses a relatively low risk to the market position of its top-tier banks. The report added that, State Bank of India (SBI), among other Indian banks are well-placed to deal with tech disruptions, given their dominant market positions and continued investments in technology. It is the latter part, i.e. sustained investment in technology that has ensured that traditional banks keep pace with the trend and stay relevant in new emerging banking landscape. What is perhaps implicit in the report is that digital disruption will chalk a different trajectory in a market where bank deposits and high level of savings in the form of savings accounts formed a bulk of source of funds. Howeve ....
Adapting to Change Rapid digitisation and scaling up of non-banking businesses, from cards to insurance and MFs to YONO, have helped SBI transform itself Dinesh Kumar Khara, Chairman, State Bank of India A week ago, Dinesh Kumar Khara, 59, the new Chairman of India s largest bank, State Bank of India (SBI), had said the elephant is ready to dance . Khara s optimism shows up in the bank s stock market performance where its share price doubled since he took charge in October 2020. The reasons are a greater control over asset quality deterioration, robust base of low-cost deposits, retail banking acceleration in mortgages and institutional set-up for housing loans gone bad and financing long-term infrastructure projects. Also, the bank s subsidiaries are already firing on all cylinders. Be it SBI Cards or SBI Life, the higher market valuations indicate the future scaling-up of these businesses. ....
SBI and Shapoorji Pallonji Real Estate sign MoU to offer faster home loans FILE PHOTO: A man walks past a logo of State Bank of India outside a branch in New Delhi, India, February 1, 2017. REUTERS/Adnan Abidi (REUTERS)Premium Share Via Read Full Story State Bank of India (SBI), and Shapoorji Pallonji Real Estate, one of India’s marquee builders, today signed a Memorandum of Understanding (MoU) to enable an improved and more seamless experience for homebuyers across India. As part of the agreement, which includes various co-promotional activities and outreach initiatives, customers of SBI and Shapoorji Pallonji Real Estate will be able to avail the benefits of faster processing of home loans and approvals along with other unique value add schemes. ....
The bank is also working on various digital initiatives to improve the efficiencies in home loan delivery, including a unique integrated platform Retail Loan Management System (RLMS) which will provide an end-to-end digital solution, Khara added.