SBI launches 34 Transaction Banking hubs nationwide to drive growth

State Bank of India, on Saturday, launched 34 Transaction Banking Hubs at 21 district centres across the country with an aim to provide quick and efficient Transaction Banking solutions to customers.

Dinesh Khara, the chairman of the SBI, inaugurated the hubs, on the occasion of the 68th foundation day of the bank.

As part of the transformational journey of Transaction Banking services and Current Account-related offerings, the bank's goal is to meet all customers' needs and provide comprehensive solutions for their transaction, payment, and collection requirements under one roof, read SBI press release.

The newly launched hubs will be staffed by product specialists who will also assist business customers with their other financial service needs by leveraging the 'Power of One' within the SBI Group by enabling seamless connectivity with different business verticals and subsidiary companies.

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

Additionally, during the pre-launch campaign in June 2023, the Bank mobilized over 1000 crore deposits at these centres, added the release.Chairman also congratulated the staff on achieving a significant improvement in market share in the CA segment. He also acknowledged that the transformation initiatives launched last year have started yielding positive results.

In March 2023, the market share increased by 1.06 per cent compared to the previous quarter (Dec 2022), marking the highest increase among all banks, read the release.