1. SBI in 'Hall of Shame' of banks funding cluster bomb makers - State-run banking behemoth SBI has been named in a 'Hall of Shame' list of 158 banking and financial institutions globally that have invested billions of dollars in companies making cluster bombs.

Note: SBI is the only Indian entity on the list, which includes global giants like JP Morgan, Barclays, Bank of America and Credit Suisse that invested over $28 billion in seven producers of cluster munitions between June 2012 and April 2016, according to a report by Dutch campaign group PAX.

 

2. SBI launches SBI Mingle, a social media banking platform - State Bank of India (SBI) had launched SBI Mingle, a social media banking platform for Facebook and Twitter users.

The SBI Mingle will allow SBI’s customers to access various banking services via these social platforms.

 

3. SBI secures $625 million from World Bank for solar program - SBI signed an agreement worth 4,200 crore rupees ($625 million) with the World Bank to support its grid connected rooftop solar photovoltaic (GRPV) programme.

 

4. SBI inks MoU with IIT Bombay to promote startups in financial sector – SBI signed a memorandum of understanding (MoU) with the Society for Innovation and Entrepreneurship (SINE) at IIT Bombay to promote innovation by start-ups in the financial sector. The SINE is IIT Bombay’s technology business incubator to promote innovation by startups in the financial sector.

 

5. SBI launches IT Innovation Start-up Fund to assist start-ups – SBI launched IT Innovation Start-up Fund to support start-ups in the financial technology (fintech) space. The fund has corpus of 200 crore rupees. It will provide assistance of up to 3 crore rupees to a company registered in India for promoting their business innovations using information technology for banking and related activities.

 

6. SBI Bank leads mobile banking chart in India.

SBI leads in digital banking in the country in both volume and value terms, handling over 38 per cent mobile banking transactions a month.

According to RBI – SBI accounted for 38.44 per cent of total mobile banking transactions in terms of volume and 35.97 per cent market share in terms of value in December 2015.

 

7. SBI and Spain's CaixaBank have inked pact to provide loans to Indo-Spanish joint ventures and local enterprises.

 

8. State Bank of India (SBI)'s point of sales terminal (PoS) network is now the largest in the country after it over took its private sector rivals in February. It plans to add another 1 lakh PoS terminals in the current fiscal year ending March 2017.

 

9. SBI has tied up with taxi-aggregator Uber to provide instant vehicle finance to ‘driver-partners’ on the latter’s platform.

 

10. SBI among 4 new foreign banks allowed to operate in Myanmar - The State Bank of India is among four new foreign banks given preliminary approval to open 100 per cent-owned branches in Myanmar, the latest move by the Southeast Asian nation to woo investment to the country long ruled by the military and hit by Western sanctions.

The four new banks that have been given initial approval by the Central Bank of Myanmar are Vietnam's Bank for Investment and Development, Taiwan's E. SUN Commercial Bank, South Korea's Shinhan Bank and the State Bank of India.

 

11. SBI launches FlexiPay Home Loan Scheme for Professionals - State Bank of India introduced a new home loan scheme ‘SBI FlexiPay Home Loan’ for young working professionals/executives.

  • Under the scheme, borrowers will get higher loan amount compared to their loan eligibility under normal home loan schemes and they will also have the option of step-up monthly repayments.

 

12. SBI opens first branch in South Korea - India’s largest lender State Bank of India (SBI) today said it has opened its first branch in Seoul, South Korea.

 

13. SBI is second Indian bank after Indian Overseas Bank to have branch in South Korea. SBI already had a representative office in Seoul.

 

14. SBI Launches First Dedicated Branch For Startups InCube - The State Bank of India, has launched first exclusive startup bank branch – SBI InCube in Bangalore. It is a specialised branch to understand and address banking needs of startups.

SBI Card launches SimplyCLICK credit card for online shopping - in association with seven partners including Amazon India, BookMyShow and Cleartrip.

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Team GrdaeUp