State Bank of India Launches 34 Transaction Banking Hubs Nationwide

On the occasion of its 68th foundation day, the State Bank of India (SBI) has inaugurated 34 Transaction Banking Hubs across 21 district centres in the country. These hubs aim to provide efficient and quick Transaction Banking solutions to customers.

Comprehensive Solutions under One Roof

The SBI’s goal is to meet all customer needs and offer comprehensive solutions for transaction, payment, and collection requirements in one place. The bank aims to transform its Transaction Banking services and Current Account-related offerings to enhance customer experience.

Product Specialists and Seamless Connectivity

The newly launched Transaction Banking Hubs will be staffed by product specialists who will assist business customers with their financial service needs. These hubs will leverage the ‘Power of One’ within the SBI Group, enabling seamless connectivity with various business verticals and subsidiary companies.

Successes in Current Account Segment

During the launch, Chairman Dinesh Khara acknowledged the successful turnaround achieved by onboarding over 2000 Current Account (CA) customers on revamped CA variants. These variants offer attractive concessions on bundled Transaction Banking services.

Impressive Market Share Growth

Chairman Khara praised the staff for their significant improvement in market share in the CA segment. The transformation initiatives launched the previous year have started yielding positive results. In March 2023, the bank’s market share increased by 1.06 percent compared to the previous quarter, marking the highest increase among all banks.

Successful Pre-Launch Campaign

The Bank’s pre-launch campaign in June 2023 generated over 1000 crore deposits at the newly established Transaction Banking Hubs, indicating a positive response from customers.

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