State Bank of India announces initiative to reduce risk in agricultural loan segment

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SBI announced 11 new initiatives. These include enhancing digital banking facilities and opening 35 new agriculture centralized processing cells, which will reduce risk in the agricultural loan segment. SBI announced these initiatives to broaden the bank’s reach to meet the banking needs of its potential customers.

New Delhi. Public sector State Bank of India (SBI) announced 11 new initiatives on Thursday. These include increasing digital banking facilities and opening 35 new agricultural centralized processing cells, which will reduce the risk in the agricultural loan segment. State Bank of India announced these initiatives on the occasion of its 69th Foundation Day in a statement to broaden the bank’s reach to meet the banking needs of its potential customers. According to the statement, SBI has improved its digital payment experience. This includes two facilities like ‘tap-and-pay’ on Bhim SBI Pay app and ‘end-to-end’ digital loan against mutual funds on Yono app.

The bank also announced an initiative that will make SBI Surya Ghar Loan completely digital ‘end-to-end’. Users can opt for loans under the central government’s PM Surya Ghar Yojana. It provides loans for up to 10 kW capacity, it said. The entire process from applicant registration on the MNRE/REC platform to loan disbursement will be managed on SBI’s digital platform. Acknowledging the significant contribution and global presence of NRIs in shaping the country’s growth story, SBI has opened the second Global NRI Centre (GNC) in Patiala, Punjab.

SBI Chairman Dinesh Khara inaugurated the second Global Overseas Centre (GNC) at Patiala on Bank Day to enhance its services to NRI customers. SBI’s GNC reflects the bank’s unwavering commitment to strengthen its ties with the global Indian community. “These centres serve as centres of excellence and provide tailor-made services to NRI customers. With a network of 434 dedicated NRI branches in India, overseas offices in 29 countries, 45 exchange houses and five bank partnerships in Gulf Cooperation Council (GCC) countries, SBI is well equipped to provide a wide range of services to its NRI customers across the globe,” the statement said.

Disclaimer: CricketInFocus has not edited this news. This news has been published from PTI-language feed.



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