SBI to set up Innovation, Incubation, and Acceleration Centre at Hyderabad

The State Bank of India (SBI) will set up an Innovation, Incubation, and Acceleration Centre (IIAC) at Hyderabad, Telangana which will be operational in six to nine months of on-boarding a consultant. This Centre will be the bank’s in-house capability to enhance its current performance and drive higher top-line growth through innovation. It will help the bank to develop a set of technologies, knowledge, and skills for the introduction of new products and services. It will act as a central body to govern and drive fin-tech partnerships and implement change across the bank.

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Important takeaways for all competitive exams:

• State Bank of India Founded: 1 July 1955;
• State Bank of India Headquarters: Mumbai;
• State Bank of India Chairman: Dinesh Kumar Khara.

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