CURRENT AFFAIRS
CURRENT AFFAIRS
Description
Global Finance Magazine named State Bank of India (SBI) the Best Bank in India for 2024 at its 31st Annual Best Bank Awards, which took place in Washington during the IMF and World Bank Annual Meetings. SBI Chairman CS Setty accepted the award, underlining the bank's commitment to providing great service and its role in advancing financial inclusion across the country. This distinction highlights SBI's long-standing dedication to gaining client trust, as well as its critical role in the growing Indian banking sector.
Award Significance
The Global Finance Best Bank Awards are well-known for their credibility, and they serve as a benchmark for appraising financial institutions around the world. The prizes offer vital insights for corporate decision-makers, particularly in the face of global economic pressures.
SBI’s Growth And Digital Initiatives
SBI, which has more than 22,500 branches and 62,000 ATMs, is constantly improving its services through the YONO digital platform. In the first quarter of FY25, 63% of new savings accounts were opened digitally, and YONO disbursed Rupees 1,399 crore in pre-approved personal loans. This innovative strategy shows SBI's continued efforts to adapt to a changing banking environment and effectively meet the demands of its customers.
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