The bank has also announced an initiative, which is a fully digital end-to-end journey for SBI Surya Ghar Loan, it said, adding that the users can opt for credit to install solar rooftops under the central government’s PM Surya Ghar Scheme, offering loans for up to 10 KW capacity.
State Bank India (SBI), the largest lender in the country, announced 11 new initiatives today, July 4, according to a SBI statement.
These initiatives include the enhancement of its digital banking features and the opening of 35 new Agricultural Centralised Processing Cells — to mitigate risks in its agricultural loan portfolio.
On the occasion of the 69th Foundation Day, the State Bank of India announced these steps to increase the bank’s accessibility and meet the banking needs of its potential clients, according to a release.
The bank has also announced an initiative, which is a fully digital end-to-end journey for SBI Surya Ghar Loan, it said, adding that the users can opt for credit to install solar rooftops under the central government’s PM Surya Ghar Scheme, offering loans for up to 10 KW capacity.
Leveraging Near Field Communication (NFC) technology, the BHIM SBI PAY app’s tap-and-pay marks a new era of swift and effortless digital payments. Transactions under Rs. 500 leverage UPI Lite for a pin-less experience, while transactions beyond Rs 500 will require a UPI PIN for a safe and secure payment experience. This innovative feature aligns with the global shift towards contactless payments and aims to significantly streamline the user experience for SBI customers.
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SBI Surya Ghar
The bank has also unveiled an initiative for SBI Surya Ghar Loan that would be digital from start to finish. Users can apply for funding to install solar roofs through the Government of India’s PM Surya Ghar Scheme, which offers loans of up to 10 KW capacity. SBI’s digital platform will manage the whole process, from applicant registration on the MNRE/REC site to loan distribution.
The entire process will be managed on SBI’s digital platform from applicant registration on the MNRE/REC portal to loan disbursement.
Acknowledging the significant contributions and global presence of the Indian diaspora in shaping the nation’s growth story, SBI opened a second Global NRI Centre (GNC) in Patiala, Punjab.
To enhance its service to NRI clients, its Chairman Dinesh Khara inaugurated the second Global NRI Centre (GNC) in Patiala on Bank Day.
SBI’s dedicated GNCs reflect the bank’s unwavering commitment to strengthening its ties with the global Indian community.
“These centers serve as hubs of excellence, providing specialised services to NRI customers. With a network of 434 specialised NRI branches in India, foreign offices in 29 countries, and partnerships with 45 exchange houses and 5 banks in GCC countries, SBI is well-equipped to offer comprehensive services to its NRI clientele worldwide,” the statement said.
In another move, SBI has launched comprehensively redesigned High Court branches aimed at enhancing services for the legal community.
This initiative underscores SBI’s commitment to providing tailored financial solutions that cater specifically to the unique needs of lawyers and legal professionals, it added.
The redesigned branches are equipped to offer top-tier services, including financial management, transaction facilitation, and personalised financial advice.
With regard to home loans, the bank has made processing such loans more transparent. Home loan borrowers will now receive automated email and SMS notifications regarding the status of their loan application at various processing stages. This initiative aims to enhance customer satisfaction and convenience, it said.
