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.
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.