SBI Unveils 11 New Initiatives on 69th Foundation Day

State Bank of India (SBI) announced 11 new initiatives to enhance digital banking, open new agricultural loan processing cells, and serve its customers better. These include tap-and-pay on BHIM SBI PAY, digital loans on YONO, a solar rooftop loan, a second Global NRI Centre, and redesigned High Court branches.

On Thursday, State Bank of India (SBI), the country's largest lender, marked its 69th Foundation Day by rolling out 11 new initiatives aimed at elevating its digital banking capabilities and improving agricultural loan processes. The enhancements aim to mitigate risks within its agricultural loan portfolio and expand access to banking services.

The lender has introduced new features, including tap-and-pay on the BHIM SBI PAY app and end-to-end digital loans against mutual funds on the YONO app. These innovations aim to provide a more seamless digital payment experience and streamline the loan application process for customers.

SBI has also launched a fully digital journey for its Surya Ghar Loan, allowing users to access credit for installing solar rooftops under the PM Surya Ghar Scheme. The second Global NRI Centre was inaugurated in Patiala, and redesigned High Court branches were created to better serve the legal community. The bank's initiatives also include automated updates for home loan applicants to enhance customer satisfaction.

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