SBI to Appoint 'Grahak Mitras' for Promoting Alternate Banking Channels.
Banking & Finance
In April 2025, the Mumbai (Maharashtra)-based State Bank of India (SBI), India's largest Public Sector Bank (PSB), announced the deployment of "Grahak Mitras" (Customers' Friends) across 4,500 branches, representing nearly 20% of its total 22,740 branches across India.
- The initiative aims to encourage customers to use self-service banking channels and help reduce congestion at bank branches.
- These Grahak Mitras will be sourced from State Bank Operations Support Services (SBOSS), a wholly-owned subsidiary of SBI, headquartered in New Delhi (Delhi).
- The deployment will focus primarily on high-footfall branches, particularly those handling government salary accounts, pensions, and Direct Benefit Transfers (DBT).
Main Point :- (i) SBI offers a wide range of alternate banking channels to enhance customer convenience and reduce branch dependency, including Automated Teller Machines (ATMs), Automated Deposit Cum Withdrawal Machines (ADWMs), self-service kiosks, SWAYAM barcode-based passbook printing kiosks, cheque deposit kiosks, internet banking, mobile banking through the You Only Need One (YONO) application, and WhatsApp banking services—ensuring 24/7 secure and seamless access to banking services.
(ii) As of December 2024, 98.1% of all transactions at SBI were carried out through alternate banking channels, marking a substantial rise from 88.1% in March 2019 and highlighting the bank's successful shift towards digital banking solutions.
Chairman : Challa Sreenivasulu Setty
Headquarter : Mumbai
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