On its 69th Foundation Day, the State Bank of India (SBI) introduced 11 new initiatives to reduce risks in its agricultural loan portfolio. These measures include the enhancement of digital banking features and the establishment of 35 new Agricultural Centralised Processing Cells, aiming to expand the bank’s reach and better serve the banking needs of its prospective customers.
Another major initiative is the launch of a completely digital process for the SBI Surya Ghar Loan. This loan provides credit for solar rooftop installations under the PM Surya Ghar Scheme, with loans available for up to 10 KW capacity. The entire application and disbursement process will be managed through SBI’s digital platform, ensuring a seamless and efficient experience from registration to loan approval.
SBI has also expanded its services for the Indian diaspora by opening a second Global NRI Centre in Patiala, Punjab. This new centre is designed to offer specialised services to Non-Resident Indians (NRIs) through a network of 434 NRI branches in India. Additionally, SBI has a presence in 29 countries and partnerships with exchange houses and banks in the GCC region, further enhancing its ability to serve NRIs.
These initiatives reflect SBI’s commitment to leverage technology to improve customer experience and expand its service offerings. By enhancing digital capabilities and broadening its reach, SBI aims to meet the evolving banking needs of its diverse customer base, from farmers to NRIs, ensuring they have access to efficient and reliable financial services.
