Mumbai: state Bank of India (State Bank Of India) President dinesh khara has said that, despite local controls, the impact of a second wave of the pandemic will be Economy this year. Bank Addressing challenges by increasing its focus on digital and keeping momentum on stressed assets health benefit.
Addressing shareholders at SBI’s Annual General Meeting, Khara said the bank has already achieved a high level of digitization and the share of alternative channels has increased to 93 per cent from 91 per cent last year. “In the current fiscal, the bank will continue to accelerate its digital agenda,” Khara said.
This includes expanding the scope and reach of YONO. For individual borrowers, YONO now has Insta top-up for pre-approved personal loans, pre-approved pension loans and Express Credit. For businesses, the YONO platform will soon provide a fully digital trade finance solution.
On stressed assets, shareholders sought information on how much SBI stands to recover as a result of the enforcement action Vijay Mallyahandjob Nirav Modi and Mehul Choksi. But the bank did not give any specific number.
“We also embraced digital readiness to meet our customers virtually and conducted over 800 e-townhall meetings for our MSME customers,” he added. Khara said with 18 million followers on Facebook and 4.2 million on Twitter, the bank has the largest social media presence among lenders globally.
The bank will also provide doorstep banking for customers who cannot visit the branch and will include 10 services such as doorstep-like account statement, cash withdrawal facility and submission of life certificates for pensioners. At Branch, the Bank has introduced the concept of Floor Managers in over 2,400 branches for better customer experience.
Addressing shareholders at SBI’s Annual General Meeting, Khara said the bank has already achieved a high level of digitization and the share of alternative channels has increased to 93 per cent from 91 per cent last year. “In the current fiscal, the bank will continue to accelerate its digital agenda,” Khara said.
This includes expanding the scope and reach of YONO. For individual borrowers, YONO now has Insta top-up for pre-approved personal loans, pre-approved pension loans and Express Credit. For businesses, the YONO platform will soon provide a fully digital trade finance solution.
On stressed assets, shareholders sought information on how much SBI stands to recover as a result of the enforcement action Vijay Mallyahandjob Nirav Modi and Mehul Choksi. But the bank did not give any specific number.
“We also embraced digital readiness to meet our customers virtually and conducted over 800 e-townhall meetings for our MSME customers,” he added. Khara said with 18 million followers on Facebook and 4.2 million on Twitter, the bank has the largest social media presence among lenders globally.
The bank will also provide doorstep banking for customers who cannot visit the branch and will include 10 services such as doorstep-like account statement, cash withdrawal facility and submission of life certificates for pensioners. At Branch, the Bank has introduced the concept of Floor Managers in over 2,400 branches for better customer experience.
.