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State Bank of India.

BSE: 500112 Sector: Financials
NSE: SBIN ISIN Code: INE062A01020
BSE 09:31 | 06 Oct 538.50 5.80






NSE 09:07 | 06 Oct 534.60 1.90






OPEN 533.05
VOLUME 63321
52-Week high 578.65
52-Week low 425.00
P/E 13.11
Mkt Cap.(Rs cr) 480,590
Buy Price 538.50
Buy Qty 45.00
Sell Price 538.70
Sell Qty 4.00
OPEN 533.05
CLOSE 532.70
VOLUME 63321
52-Week high 578.65
52-Week low 425.00
P/E 13.11
Mkt Cap.(Rs cr) 480,590
Buy Price 538.50
Buy Qty 45.00
Sell Price 538.70
Sell Qty 4.00

State Bank of India. (SBIN) - Director Report

Company director report

I. Economic Backdrop and Banking Environment

1. Global Economic Scenario

The recovery of the global economy was hampered in Q4 of 2021 due tothe resurgence of omicron variant which led many countries to re-impose lockdowns travelrestrictions and other containment measures which disrupted economic activities and supplychains. The domestic economic scenario has also been affected by geo-political events. RBIhas lowered the FY23 GDP growth forecast to 7.2% from the earlier guidance of 7.8%. Whilepossible upside could emanate from sustained domestic demand Government's thrust oncapex a normal monsoon and healthier corporate balance sheets the heightenedgeo-political tensions do pose downside risks to GDP growth.

Towards the end of FY 2022 the Russia- Ukraine conflict has led toheightened financial volatility. Price of crude and other commodities spiralled tomulti-year highs. Amidst unsettled financial market conditions demand for safe havensincreased thereby increasing the price of gold while diversification of reserves bycentral banks anchored other assets and currencies too. Meanwhile emerging marketscontinue to witness capital outflows as the US Fed accelerated its tapering of assetpurchases recently raised the Fed funds rate twice and signalled aggressive rate hikes.Against this backdrop global growth is expected to moderate to 3.2% in 2022.

Meanwhile inflation is likely to remain elevated in the near term andinflationary pressures are likely to subside in the later part of the year. The recentlockdown in China is a grim reminder of the brittle recovery and the necessity of adheringto appropriate measures to check the unabated spread of the virus.

The Russia-Ukraine conflict and lockdowns in China as part of its zero-tolerance approach towards the pandemic are weighing down on the global trade dynamics.This has led the WTO to slash the global goods trade growth forecast to 3% in 2022 fromits previous forecast of 4.7%.

Prolonged situation in Ukraine along with unanchored inflationexpectations and supply disruptions pose a significant downside risk to global growthprospects. With growth clouded by risks and uncertainty it is imperative for countriesespecially the developing ones to continue to strengthen their digital and healthinfrastructure. All countries also need to focus on tackling climate change andgrowth-enhancing policy interventions to promote inclusive development and reforms thatbroaden economic activity.

2. India?s Economic Scenario

The recovery in real GDP growth with the ebbing of the second wave lostsome momentum in H2FY2022 with the emergence of the Omicron variant which was fortunatelyshort lived. However India's economy grew by 8.7% in FY2022 as against the NSD's earlierestimate of 8.9%.

Gross Value Addition in agriculture and allied activities expanded by3.3% in FY2022 supported by adequate monsoon good reservoir levels and improved soilmoisture which helped rabi acreage increase by 1.5% over the previous year. Food grainproduction touched a new record in FY2022 with both Kharif and Rabi output exceeding thefinal estimates for the year.

Industrial activity lost some momentum in the second half of FY2022 asmanufacturing was affected by supply- side shortages and input cost pressures. Miningactivity was supported by coal and natural gas offsetting the contraction in crude oilproduction. Hence industrial GVA decelerated sharply from 23.1% in H1 to 0.9% in H2.

Services sector activity grew by 7.1% in H2 and crossed itspre-pandemic level. The contact-intensive services viz. trade hotels transport andcommunication inched towards normalisation though their rebound was held back by theOmicron variant.

Merchandise exports and imports remained buoyant in FY2022. Exports at$42.2 billion in March 2022 touched a new record and remained above $30 billion for the 13thconsecutive month. During FY2022 merchandise exports at $419.6 billion surpassed thetarget of $400 billion. The $300 billion mark in exports was achieved in FY12 and it tookalmost a decade to add an incremental $100 billion in exports.

Merchandise imports reached an alltime high of $60.7 billion in March2022 and remained above $50 billion for the seventh consecutive month. Overall India'smerchandise exports increased by 43.8% in FY2022 vis-a-vis a decline of 6.9% in FY2021while imports grew by a whopping 55.1% in FY2022 compared to a 16.9% contraction inFY2021. India recorded a current account deficit of 1.2% of GDP in April-December 2021against a surplus of 1.7% in April- December 2020.

Though CPI inflation is projected to average below 6.0% in FY2023 byRBI there remain several risks to this forecast. The risks could emanate from a furtherhardening of global crude and other commodity prices due to geopolitical tensions longersupply chain disruptions a larger pass-through of input cost pressures and volatility inthe global financial markets induced by an affirmative normalisation of monetary policy bythe advanced economies. An early end to supply chain disruptions a muted pass-through tooutput prices correction in global commodity prices and an easing of geopoliticaltensions would help in containing inflation within the projected levels.

As per RBI estimates real GDP is expected to grow by 7.2% in FY2023.Upside to growth could emanate from sustained expansion in domestic demand a boost inprivate investment activity buoyed by the Government's thrust on capital expenditure anormal monsoon and healthier corporate balance sheets.

3. Banking Environment

The COVID-19 pandemic was the first significant test of the globalfinancial system since the global financial crisis of 2008. Globally and in India thebanking and non-banking sectors have weathered the COVID-19 disruptions reasonably wellsupported by cogent policy measures which helped maintain the soundness of the bankingand financial system. The timely policy interventions both by the Government and the RBIhelped alleviate the stress experienced by individuals MSMEs corporates and lenders bymaking credit available on easy terms.

With the gradual return of normalcy signs of recovery became visiblein H1 of FY2022 during the festive season. ASCB credit grew by 9.6% in FY2022 compared to5.6% growth in FY2021. Retail loans have emerged as the primary driver of bank credit inFY 22 and have now the largest share (28.4%) in the outstanding credit of ASCBsdisplacing industrial loans (26.7%).

However ASCB's aggregate deposits growth slowed to 8.9% in FY2022compared to 11.40% in FY2021 due to the base effect lower interest rates and a flight tocapital markets / digital asset classes in the expectation of higher returns. Amidstimproving credit offtake growth in banks' holdings of G-secs decelerated pulling downtheir excess SLR investments to 9.6% of net demand and time liabilities (NDTL) as of March25 2022 from 11% as at the end of March 2021.

The asset quality of ASCBs improved during FY2022 with thenon-performing assets (NPA) ratio declining to 6.5% in December 2021 from 6.8% a year ago.

Digital transactions continued to register robust growth in FY2022.Retail payments expanded strongly across the payment modes. UPI witnessed near 100% growthin volume and value of transactions. RTGS NEFT IMPS and NACH also demonstratedremarkable growth. Transactions under the Bharat Bill Payment System (BBPS) clocked atriple-digit increase in volume.

4. Outlook

Towards the end of FY2022 the buildup of tension between Ukraine andRussia and the subsequent sanctions have led to supply chain risks becoming morepronounced. Increase in prices of agricultural commodities energy products metals andother essential commodities have had a cascading impact on the global economy andconsequently the banking sector. The build-up of inflation has prompted aggressive ratehikes in advanced economies.

Considering these developments the Monetary Policy announcement by RBIin April 2022 highlighted considerable risks that need constant monitoring and warrantconcrete actions while keeping rates unchanged. This was however followed by an off-cyclepolicy rate and CRR hike by RBI in early May 2022.

The normalisation of LAF corridor through the introduction of StandingDeposit Facility (SDF) and subsequent rate hike in May 2022 clearly indicate that theinterest rate cycle is turning. In the G-Sec market yields have gone up since the ratehike announcement in May 2022.

India's GDP growth for FY2023 has been projected at 7.2% which isamong the highest in the world. Nonetheless there is uncertainty on how the demand willpick up during this financial year. Private final consumption is still below theprepandemic year and may see some erosion in the current year due to higher inflation.However investment demand has picked up gradually and there has been substantial increasein new investment announcements amounting to '19 trillion in FY2022. Further sectorsbenefiting from Production Linked Incentive (PLI) scheme are also expected to see anincrease in capex in FY2023. Going forward good prospects of Rabi output augur well forrural demand. The recent opening of precautionary vaccine dose for all segments of thepopulation is also a positive development.

In this backdrop the Bank's business needs careful assessment. Yourbank has calibrated its business strategy in tandem with evolving needs constantlyadopting best practices while prioritising the safety of hundreds of millions of customersand our people without compromising on delivery of uninterrupted services since theoutbreak of the pandemic. Yet the emergence of geopolitical risks alongside the recurrentbouts of COVID-19 infections have again underscored the need to be on guard andre-evaluate the adequacy of contingency buffers to cover unanticipated losses.

The conflict in Ukraine has also opened up opportunities for Indianotably in agriculture sector. Further free trade agreements with Australia and the UAEare also expected to create a number of growth opportunities. Reordering of global supplychains also presents a unique opportunity to India a proposition that holds tremendouspotential.

To sum up the outlook on the economy and the Bank's business willdepend upon the evolving geopolitical situation and its impact on global commodity pricesand logistics. Opening up of the economy has reduced the need for a fresh stimulus packageand the current momentum appears sustainable. Thus for the Bank it is imperative thatbusiness keeps adapting to the new operating environment.

II. Financial Performance

Net Profit and Operating Profit

The Net profit increased by 55.19% to '31675.98 crore in FY2022 from'20410.47 crore in FY2021. The Operating Profit of your Bank for FY2022 increased by5.22% to '75292.37 crore from '71554.15 crore in FY2021 (Including exceptional item of'1539.73 crore from stake sale from SBI Life in FY2021).

Net Interest Income

Net interest income increased by 9.03% to '120707.59 crore in FY2022from '110710.00 crore in FY2021. Total interest income increased from '265150.63 crorein FY2021 to '275457.29 crore in FY2022 registering a growth of 3.89%. Total interestexpenses increased from '154440.63 crore in FY2021 to '154749.70 in FY2022. Interestexpenses on deposits during FY2022 recorded a decline of 0.83%compared to the previousyear.

Other Income

Other income (excluding exceptional item) decreased by 3.32 % to'40563.91 crore in FY2022 from '41956.64 crore in FY2021.

Operating Expenses

Operating expenses (excluding exceptional item) of the Bank increasedby 4.03% to '85979.13 crore in FY2022 from '82652.22 crore in FY2021.

Provisions and Contingencies

Total provision and contingency decreased by 29.22% from '51143.68crore in FY2021 to '36198.00 crore in FY2022. Major provisions made in FY2022: Provisionof '14086.85 crore for non- performing assets (as against 27244.35 crore in FY2021) andInvestment Depreciation of '3440.10 crore (as against '3014.50 crore in FY2021). TheProvisioning to Gross Non-Performing Assets ratio (including AUCA) of the Bank as on 31stMarch 2022 is 90.20% (Previous Year 87.75%). PCR (excluding AUCA) as on 31stMarch 22 is 75.04% (70.88% as on March 21).

Assets and Liabilities

Total assets of your Bank have increased by 9.99% to '4987597.41crore as at the end of March 2022 from '4534429.63 crore at the end of March 2021.During the period the loan portfolio increased by 11.61% to '2733966.59 crore from'2449497.79 crore. Investments increased by 9.60 % to '1481445.47 crore from'1351705.21 crore. A major portion of the investment in the domestic market was ingovernment securities.

Your Bank's aggregate liabilities (excluding capital and reserves) roseby 9.97% to '4707509.35 crore as on 31st March 2022 from '4280554.44 croreas on 31st March 2021. The deposits rose by 10.06% and stood at '4051534.12crore as on 31st March 2022 against '3681277.08 crore as on 31st March2021. The borrowings increased by 2.10 % to '426043.38 crore as at the end of March 2022from '417297.70 crore as at the end of March 2021.

Reserves and Surplus

An amount of '9502.79 crore (as against '6123.14 crore in FY2021) wastransferred to Statutory Reserves. An amount of '538.16 crore (as against '1465.12 crorein FY2021) was transferred to Capital Reserves. An amount of '4647.87 crore in FY2022 (asagainst '1928.20 crore in FY2021) was transferred to Investment Fluctuation Reserve.


Your Bank has declared a dividend of '7.10 per share @ 710% for theyear ended March 31 2022.

Progress of Implementation of IND AS

Steering Committee headed by Managing Director (Stressed Assets Risk& Compliance) has been monitoring implementation of Ind AS in the Bank. Your Bank isalready geared up for implementation of Ind AS. However implementation of Ind AS in Bankshas been deferred by RBI until further notice.

III. Core Operations

1. Retail & Digital Banking Group

Retail and Digital Banking is the largest business vertical of theBank with 99.45% of total branches and 98.15% of the entire human resource of your Bankand comprising eight strategic business units. Your Bank is committed to customer delightat all its branches. The ever- evolving customer preferences especially amongst theyounger population is transforming the retail banking landscape.

Your Bank's customer base is steadily increasing across the countrymaking Retail Banking the most prolific segment of your Bank both in terms of depositmobilisation and extending customised credit. Your Bank continues to be the most prominentHome Loan provider in the country and the largest dispenser of Education Loansdemonstrating its steadfast commitment to serving society.

Your Bank continues to be at the forefront of the digital bankingdomain with a steady stream of technology-driven innovations across various channels -digital mobile ATM internet social media and branches. It has a multi-channel deliverymodel offering its customers a wide choice.

A. Personal Banking

1. Home Loan

Your Bank continues to be the Largest Home Loan provider in thecountry. Even though outbreak of the 2nd wave of pandemic affected real estatebadly resumption of activities with relaxations in lockdowns pan India has helped ingathering momentum.

The HL/HL related portfolios of your Bank has grown from about '1 lakhcrores in 2011 to '5.62 lakh crores as on 31.03.2022. The Home loan portfolio accountedfor 23.87% of whole Bank advances. Your Bank has disb rsed close to '1.46 lakh crore ofHome loans and Home related loans during FY 2022.

Market Share: Your Bank have been continuously outpacing the growthcurve and garnered market share of 35.3% in home loans among ASCBs.

Affordable and PSL: Your Bank's affordable housing portfolio stands at58.19% of its total home loan portfolio while PSL stood at 34.15%.

Central Nodal Agency (CNA) for PMAY subsidy: Your Bank has beennominated as CNA by Ministry of Housing and Urban Authority(MOHUA) the only commercialbank in the country (other CNAs are HUDCO & NHB). As CNA for PMAY-CLSS scheme yourBank has processed over 64272 subsidy claims aggregating to '1500 crore earning incomeof '17.10 crore during FY 2022.

Asset Quality: Maintaining healthy Asset Quality was a challenge amidCovid-19 pandemic of the economy. Your Bank's constant proactive monitoring and follow upsoft reach out calls to customers resulted in NPA in HL falling below Mar'21 level to0.50% by end of March 2022.

Based on RBI's Covid Relief forbearance/ dispensation of moratorium& restructuring of retail loans your Bank provided relief by way of restructuring74003 home loan accounts in the 2nd Phase.

Initiatives: Your Bank has always been instrumental in customizing anddeveloping sustainable creative solutions and continuously striving towards making SBIthe ‘No. 1 Choice of Customers? for home loans. Towards sustainable developmentgoals financing of cost of rooftop Solar Photo Voltaic System as part of project cost isnow included in Home Loans.

Digitisation of Loan Journey: Retail Loan Management Solution (RLMS)and Vendor Verification Module (VVM) were introduced in loan processing to ensure uniformunderwriting standards seamless delivery & end to end digitisation of the product toensure customer delight.

In-house developed contactless digital platforms like YONO & OnlineCustomer Acquisition Solution (OCAS) / Retail Assets

Acquisition Solution (RAAS) are being promoted extensively as resourcetools to maximise Home Loan business and boost Bank's market share further.

Document Management Solution (DMS) is an initiative to digitise andcentralise the maintenance of Home Loan documents to increase customer convenience whichis rolled out in all CPCs.

Tie-Ups with Builders: Onboarding maximum projects under Builder Tie Up(BTU) provides much-needed leg-up fillip to Home Loan portfolio and improves sourcingquality besides considerably improving TAT. Your Bank has so far approved 8578residential projects (RERA approved) with penetration of 22.47% in these Tied Up projects.

2. Auto Loans

Your Bank took various initiatives to maintain volumes and marketshare focusing on customer delight and convenience. Your Bank has entered into tie-upwith India's two largest OEMs MSIL & HMIL by which an eligible customer can generatean instant in-principle sanction letter while booking the Car on the OEM platform. YourBank was No. 1 on both platforms among all financiers. A new Car Loan journey on YONO wasstarted for customers not maintaining an account with SBI. 13% of total disbursements arefrom a pre-approved suite. With a focus on sustainability and supporting the environmentyour Bank has been offering loans for Electric PVs at a concessionary interest rate andwith an extended loan tenor. In two-wheeler financing your Bank has developed an e2edigital product "SBI-Easyride" where the customer does not need to visit branchfor the sanction of loan and disbursement.

3. Education Loans

Your Bank takes pride in being the largest Education Loan provider inthe country. Your Bank has helped 76301 deserving students realize their dreams byproviding financial assistance of '10291 crore during the year. 40% of the loans wereextended to girl students (up from 37% in March 2021). To broaden the scope of EducationLoans book quality business and enhance customer satisfaction your Bank has taken thefollowing steps:

• Shortlisted 235 top-rated premier and reputed institutions forextending Education Loans under the Scholar Loan scheme at relaxed norms and concessionalinterest rates.

• Penetration through Flagship product "Global Ed-vantageEducation Loans" for studies abroad was improved by extending Doorstep services inselect cities.

• To ensure better tracking of loan applications and faster loansanctioning your Bank's Loan Origination System (LOS) was integrated with GOIs VidyaLakshmi Portal (VLP).

4. Personal Loans

Personal Loans are amongst the most popular products in your Bank andyour Bank is a leader in this market segment. Your Bank is aggressively catering to theneeds of the salaried class (both government and private) pensioners andself-employed/other customers. Your Bank is also extending loans to Salaried customers ofother Banks through SBI Quick Personal Loans. As of 31.03.2022 the Personal Loanportfolio (Xpress credit and Pension loan) reached '285448 crores with a YTD growth of28.06% ('62119 crores). The growth is contributed primarily by the flagship productXpress credit ('54934 crores) which had YTD 28.49% growth.

Your Bank launched a new unsecured Personal Loan product "SBIKAVACH LOAN" in June 2021 for customers requiring funds for Covid treatment whereinwe offered loans up to '5 lakhs at concessional rate of interest. We extended 180056loans amounting to '3686 crores under these product.

5. Consumer Durable Loans for e-Commerce Purchases:

Your Bank offers two e2e products namely POS EMI Loan and Online EMILoan. While POS EMI loan is being provided through Pine Labs POS machines at variousshops malls stores and showrooms your Bank has entered into a tie-up with Bill Deskand PayU to offer Online EMI Loan at select online shopping portals. These products areavailable to 1.11 crores pre-approved customers based on their account behaviour and otherAI/ML technology parameters.

6. Liability and Investment Products

The total deposits at your Bank grew by 10.06% during FY2022.

The total Term Deposits grew by '221926 Crores (11.53%) duringFY2022.

The total Savings Bank Deposit grew by '143123 Crores (10.45%) duringFY2022.

CASA Deposits of your Bank grew by 7.78% during FY2022. Your Bankopened 98.75 lakhs new regular Savings Bank accounts during the Financial Year.

7. Doorstep Banking Services

In a move towards customer convenience and ease of banking your Bankis extending Doorstep Banking Services through agents to all customers at the top 100banking centers for 5 key services including cash deposits & withdrawal pick upcheques Statement of Account TD Advice. Additional two new services for pick up ofNomination Form and Fund Transfer request were added during the current FY.

However Senior Citizens more than 70 years of age and DifferentlyAbled Persons are being extended Doorstep Banking Services at all banking centres.Registration for Doorstep Banking Services is also made available through the YONO Liteapp.

8. Video Customer Identification Process (V-CIP)

To bring the banking facility closer to customers your Bank offers theopening of Savings Bank accounts digitally through the V-CIP process from the comfort ofthe home office & convenience and more than 6 lakhs customers have joined us throughV-CIP up to March 2022.

9. Corporate and Institutional Tie-ups for Salary Package

This year your Bank focused on opening Salary Package Accounts forCorporate Defence Railways and State Govt employees through Corporate SalaryRelationship Managers. The total Salary Account customer base as of Mar'22 reached morethan 179 lakhs with the opening of 4.77 lakhs new Salary Package Accounts during FY2022.1291 new Corporate tie-ups were established during the current FY. 292 dedicated andcustomized Salary Package Microsites have been created for employees of various entitiesto create awareness about benefits availabe to them under CSP.

10. Digital Personal Loan Offerings

While offering products on multiple platforms for portfolio growth withhigher profit margins your Bank has kept in mind customer convenience with Ease ofBanking and delivered the following variants through YONO. Customers can avail of theofferings on a 24X7 basis without any physical documentation and branch visit.

• PAPL (Pre-Approved Personal Loan)

• PAXC (Pre-Approved Xpress Credit)

• PAPNL (Pre-Approved Pension Loan)

• INSTA Top-up for Xpress Credit

• Insta Pension Loan

The Bank has sanctioned 11.40 lakh digital loans involving '21118crores during FY2022 compared to 11.60 lakh digital loans involving '15997 crores duringFY2021.

11. NRI Business

As of 31 March 2022 your Bank has around 36 lakh NRI Customers whoare being catered through 450 dedicated Specialized NRI Branches / NRI Intensive Branchesin India our foreign offices in 30 countries 227 Global Banks as Correspondent Banks andtie-ups with 45 Exchange Houses and five Banks (in the Middle East) to facilitateremittances. To provide a one-stop service to NRI Customers‘ a Global NRI Centre(GNC)' has been set up at Ernakulam for all nonfinancial services of the Bank.

Your Bank is leading in the NRI Banking space in India with a marketshare of 22.38% (as of Jan 2022).

Your Bank has launched the following services in FY 2021-22 for thebenefit of NRI clientele:

• The Daily limit for Forex Outward remittances through FX-Out(INB Channel) from NRE Account is enhanced from '10 lacs to '18 lacs per day.

• IMPS facility extended for NRI Customers for instant financialtransactions in Internet Banking and Mobile Banking.

• Interest Certificate available to NRI Customers over INB for theprevious two years (both financial and calendar years).

12. Precious Metals

Sovereign Gold Bonds (SGB): The Government of India introduced asovereign Gold Bond Scheme during FY 2015-16 to promote Digital Gold. Your Bank during FY2021-22 mobilized 3052 Kg Gold ('1452 Crores) under the scheme.

Gold Monetization Scheme (GMS):

To mobilize gold lying idle in households and institutions theGovernment of India introduced Gold Monetization Scheme during FY 2015-16. During FY2021-22 your Bank mobilized 2901 Kg Gold.

Other Gold Business

Metal Gold Loan (MGL): In addition to mobilizing Gold under GMS Bankoffers Metal Gold Loan to jewellers engaged in manufacturing gold ornaments for domesticand export purposes. During FY 2021-22 your Bank extended Metal Gold Loans of 15.94 MTamounting '7461 crore.

Sale of Gold (SOG): The Bank also offers the Sale of Gold (SOG) Schemeto Jewellers/Traders. During FY 2021-22 your Bank sold 2.7 MT Gold under the Scheme.

13. Wealth Management Business

The Bank's Wealth Management Services are offered at 74 major centresacross the country through a network of 172 Wealth Hubs and five e-Wealth Centres.

SBI Wealth has shown exponential growth in terms of Investment AUM andclients during FY2022. The Investment AUM has increased from '8592 Crore to '14317crore and the number of Clients increased from 255196 to 297246. The AUM of Clientsalso increased from '207167 Crore to '252061 Crore for the same period.

SBI Wealth has been chosen as one of the Best Brands of 2021 by TheEconomic Times.


1. ATMs and ADWMs

Your Bank has one of the largest ATM networks in the country with65030 ATMs including Automated Deposit and Withdrawal Machines (ADWMs) as of 31stMarch 2022. Your Bank has its ATM

SBI also has set up (Mobile ATMs) which help extend customer serviceduring emergencies and calamities like floods cyclones lockdowns among others. Thesemobile ATMs are also sent to various sites like Army Base Housing societies Govt. Officelocations IT-Tech Parks among others.

Bank's market share in the number of installed ATMs and ADWMs is 29.8%and handles the highest share of cash (34%). On average ~1.32+ crore transactions arerecorded every day at your Bank's ATMs and ADWMs.

Your Bank adopts cutting-edge technologies and regularly upgrades andreplaces the ATMs for Safe & Secure Banking.

To strengthen the security of ATM cash withdrawals against skimmingcloning and theft of cards by fraudsters your Bank has implemented 24x7 OTP verificationfeature for all cash withdrawal transactions of '10000 and above apart from processingeach transaction through the more secure EMV Chip of the card.

presence throughout the country even in the most challenginglocations. These include a floating ATM at the Dal Lake Srinagar; on the jetties ofErnakulam and Vypeen in Kerala; in the Tea Gardens of Assam; and on the islands of Andaman& Nicobar and Lakshadweep among others.

SWAYAM Barcode based passbook printing kiosks: Your Bank has installed19500 SWAYAMs (Barcode based passbook printing kiosks).

Green Channel Counter (GCC): Your Bank has deployed GCC terminals atretail branches for transactions through Debit cards to promote Green Banking.Transactions facilitated are- cash withdrawal cash deposit funds transfer within SBIaccounts Balance Enquiry Green PIN generations and PIN Change and Mini Statement.Transactions are enabled only on EMV compliant GCC Terminals.

Green Remit Card (GRC): The GRC is a cash deposit card through whichfunds can be deposited to a pre-defined account of your Bank by GCCs CDMs and ADWMs. Cashdeposit facilities through GRC are available 24*7 at CDMs and ADWMs and are helpfulespecially for migrant workers. The transaction limit for GRC is '25000 per transactionwith a monthly cap of '100000.

Cheque Deposit Kiosk (CDK) and Smart CDK: The CTS enabled selfserviceCheque Deposit Kiosks (CDK) facilitate customers to deposit their CTS cheques hassle-free.The kiosks have been deployed at 2500 branches where outward clearing cheques are morethan 50 per day. A receipt with a scanned copy of cheques and details such as chequenumber and payee account number is generated for the depositor. Smart CDK functionality inYONO applications facilitates customers to deposit cheques in bulk (10 cheques at a time)from the convenience of their location and deposit cheques in CDK through referencenumber.

2. Positive Pay System

As per RBI directives your Bank has implemented the Positive PaySystem (PPS) for all cheque payments (Cash/ Transfer/Clearing) effective from 1st January2021. This is a measure to prevent frauds perpetrated through cheque tampering/alteration.Positive Pay System involves re-confirming critical details of the cheque by drawer to theBank which would be cross-checked with the presented cheque at the time of paymentprocessing. Registration for availing PPS can be done through any of the Bank's Branchesor alternate channels viz. RINB CINB Mobile Banking (Yono Lite) YONO (Mobile App) andproviding details of cheque on issuance can be done through the same channels and SBIQuick (SMS) additionally. As of 31st March 2022 more than 49 lakhs of yourBank's customers have opted for Positive Pay System.

3. Setting up of Cyber Cell

To combat Cybercrimes the Ministry of Home Affairs has rolled out acybercrime reporting Portal with a dedicated email and a helpline number 1930 to reportcybercrime incidents by the Victims. To support this new initiative of the Government ofIndia Cyber Crime Cells have been set up at all 17 Circles for attending to customercomplaints in respect of cyber frauds. As of 31st March 2022 89871 complaintshave been attended and '9.40 crore are placed under ‘hold' or ‘saved'.

4. Customer Value Enhancement

Your Bank is a Corporate Agent of SBI Life Insurance Co. Limited andSBI General Insurance Co. Limited. It has a Distribution Agreement with SBI Mutual FundSBI Cards & Payment Services Limited and SBI Cap Securities Limited to distributetheir products. Your Bank also distributes mutual fund products of UTI Mutual Fund TataMutual Fund Franklin Templeton Mutual Fund L&T Mutual Fund ICICI Mutual Fund andHDFC Mutual Fund. In addition all branches are authorized to open NPS accounts underNational Pension Scheme.

Initiatives and successes for FY2022 are mentioned below:

SBI General

The current year has witnessed significant migration of transactionsover digital channel. During the year approx. 51 lakh PAI policies were mobilized throughYONO. Health Insurance contributes 20% of the total premium mobilized.

SBI Cards & Payment Services Limited

Your Bank is leveraging technology for customer segmentation which hasresulted in the sourcing of approximately 16.54 lakh cards through SBI branches in FY2022.Card issuance through digital journey has been received very well by customers and is on arising trend.

SBI Pension Funds Pvt. Ltd.

Your Bank has upgraded its systems to provide end-to-end digitizationfor instant NPS account opening. Your Bank mobilized over 1.75 lac NPS accounts during FY22 with a market share of 22%.

SBICAP Securities Limited (SSL)

Bank has sourced over 7 lakh Demat and Trading accounts contributingmore than 85% business mobilization of SSL. An e2e Demat and Trading account journey hasbeen launched on YONO.

5. Internet Banking and E-Commerce

YONO is a flagship mobile banking and lifestyle app and one-stop-shopoffering not just financial services but also a gamut of investment insurance andshopping solutions. With a Digital-First approach it is part of Bank's continuousendeavour to provide innovative digital banking solutions to all customers across thecountry.

YONO has crossed many milestones with 111.74 million downloads and48.35+ million registrations till 31.03.2022 with increasing momentum in adoption andprogressively higher user engagement.

Key Performance Highlights of YONO for FY2022:

SIM Binding feature was implemented on YONO App on 22.08.2021 toenhance the security features. This feature will ensure that the App will function only onthe device where the SIM of the Bank's Registered Mobile number is present.

Customer Onboarding: Significant momentum was observed in new customeronboarding with ~96% of eligible savings accounts being opened through the YONO platform.

NPS account opening through YONO mobile app has been launched on 27thSept 2021. It is a complete end-to-end process wherein the customer is not requiredto submit the physical form to CRA (Central Recordkeeping Agency). PRAN is generatedinstantly. 49051 accounts have been opened during the year which represents 29.60% ofaccounts opened at the Whole Bank level.

YONO Krishi: YONO Krishi a comprehensive multi-lingual platform foragriculture segment customers launched in 2019 is an initiative by the Bank to make ourfarmer customers future-ready by offering them constant digital innovations pertaining totheir agricultural needs. By the end of FY2022 more than 24 lakhs YONO Agri Gold Loansamounting to ~Rs.37500 crore were sanctioned through YONO Krishi.

Simplified KCC Review through the YONO process was launched in August2020 wherein the customer can get their KCC account reviewed online without visiting thebranch in a paperless presence less manner.

SAFAL (Simple and Fast Agriculture Loan) - A Pre-approved loan firstof its kind in the Agriculture segment was launched in September 2021. The product isavailable for farmers engaged in Dairy activity and associated with Corporates under Tieup through an arrangement with Bank. Farmers can avail of loans up to Rs.3.00 Lakh withoutcollateral security through this simplified digitized process with minimal documentation.316 SAFAL loan accounts amounting to '1.69 crore and 34 Corporates have been onboarded bythe end of FY2022.

Online marketplace: In FY2022 111 merchant partners were live on theB2C Market Place platform (including Mitra and Mandi) witnessing 6 lakh+ transactionsamounting to ~'1255 crore + worth of Gross Merchandise Value during the FY2022. Thisplatform generated more than 20000 auto loan leads for your Bank.


Your Bank is a pioneer and market leader in SME financing with 829 SMEintensive & dedicated branches across India. With over 18 lakh customers the SMEportfolio of Rs.305517 crore as of 31st March 2022 accounts for nearly10.83% of your Bank's total advances. Your Bank has always held SMEs as an importantsegment considering their role in the Indian economy and for their contribution to thecountry's manufacturing output exports and employment generation. Being committed toproviding innovative and straightforward financial solutions your Bank's approach todrive SME growth rests on the following three pillars:

a) Customer Convenience

b) Risk Mitigation and

c) Technology-based digital offerings and process improvements.

1. Customer Convenience

To build and sustain the momentum for transforming India the Bank hascreated the highest number of touchpoints in branches and other channels. To enhance theease of business for the Small and Medium Enterprises your Bank has modified its existingdelivery model of the Small and Medium Enterprises Centre (SMEC) and created AssetManagement Teams (AMTs) to maintain end-to-end relationships with the customers for loansup to Rs.50 lakh. Loans above Rs.50.00 lakhs are handled by the Relationship Manager (SME)for better customer connect. As of 31st March 2022 1810 RMs (SME) were activeacross India.

To focus on improving our connection with customers and strengtheningour SME business 104 Assistant General Managers (SME) have been posted across all zonaloffices.

2. Digital Offerings

Your Bank is leveraging technology in every aspect of the valueproposition from business designing products streamlining processes improving deliveryto monitoring. Furthermore it has taken several initiatives to build an SME portfoliothat is risk mitigated. It has implemented significant changes in

(i) Product suite

(ii) Process

(iii) Delivery to ensure Ease of Banking.

Loan Life-Cycle Management Online Loan Application and Online LeadStatus:

Your Bank hosts an online loan application and tracking facility forMSME borrowers on the corporate website. Loan Organisation Software (LOS-SME) and LoanLifecycle Management (LLMS) adopt uniform credit dispensation standards to ensure qualityand preserve corporate memory.

Customer Relationship Management (CRM):

Your Bank has introduced a CRM system as an integrated platform toengage with customers throughout their lifecycle enhance understanding of customers'requirements and strengthen the customercentric approach of the Bank. The CRM portal hasbeen designed to generate leads in CRM applications through various channels bettermonitoring mechanism of leads at multiple stages and booking increased business withlower TAT through customer connect. The Customer 360 view is also available in CRM apartfrom lead monitoring.

Contactless Lending Platform (CLP):

State Bank of India in collaboration with SIDBI and other PSBs hasdeveloped a Contactless Lending Platform (psbloansin59minutes. com) for loans to MSME. CLPprovides easy access for loans to SMEs registered on the GST platform and filing IncomeTax returns. Using the platform your Bank is sourcing leads for loan requirements from'1.00 lakh to '500.00 lakh. In FY2022 7661 MSME loans have been sanctioned amounting to'2526.90 crore.

Project Vivek

Project Vivek heralded a paradigm shift in your Bank's appraisal systemfrom traditional Balance Sheet based funding to a more objective appraisal system ofleveraging cash flow and other information sources bringing objectivity to better riskassesment. It reduces Turn Around Time (TAT) resulting in a better customer experience.In FY2022 35589 proposals were processed under Project Vivek. Further technicalenhancements were done to the project during the year to improve the underwriting process.The simplified Automated Quick Renewal process under Project Vivek is being popularised tosimplify the process of renewal of Fund Based Working Limit.

SME Gold Loan

Your Bank has introduced a simplified product viz. SME Gold Loan toprovide short term credit support to MSME Units against the security of Gold Ornaments/jewellery with simplified assessment and easy sanction. MSME units bridge their liquiditygaps with ease.

Pre-Approved Business Loan (PABL)

Your Bank has launched a simplified PABL product - An analytics productfor sanctioning loans up to '10 lakhs for current account customers. Your Bank alsolaunched the Digital Retailer Finance programme. A total of 1800 retail traders supporteda pilot run.

SME Finance For CAs under CLP

This is simplified scoring based product available on the ContactlessLending Platform (CLP). Under the product collateral free loans are offered to CAs andcovered under CGTMSE with EBLR linked pricing.

COVID-19 Enablers

In line with the RBI's regulatory package sanctions are given underGECL to ensure prompt disposal and release of funds. GECL scheme will continue till 31stMarch 2023.

Your Bank is also participating in the Sanjeevani scheme for SME loansfor the healthcare sector for existing hospitals nursing homes clinics and medicalcolleges.

Your Bank also participates in disbursing Aarogyam Healthcare BusinessLoans which covers the entire healthcare ecosystem under the product. The stakeholdersincluded are hospitals nursing homes diagnostic centres pathology labs manufacturerssuppliers importers and logistic firms engaged in critical healthcare supply.

Competitive Rates of Interest

Your Bank has linked all floating rate loans to Micro Small and MediumEnterprises (MSMEs) to External Benchmark w.e.f. 1st October 2019.

Trade Receivables Discounting System (TReDS)

The Bank was the first among all PSBs to register as a financier on theTReDS platform set up to provide finance to MSMEs. We have presence on all the threeTReDS platforms in the country i.e. RXIL M1 exchange and Invoicemart. Your Bank has beenactively participating in the online biddings on the platform and has been offering verycompetitive rates for the benefit of MSMEs. In FY2022 14208 Bills aggregating '2668crore were discounted.

Supply Chain Finance

Leveraging Bank's state-of-the-art technologies and vast branchnetwork your Bank continues to be a significant player in Supply Chain finance bystrengthening its relationship with the corporate world across various sectors. Your Bankhas extended supply chain finance to over 31000 dealers and over 12260 vendors withtotal sanctioned limits of over '38680 crore (e-DFS) & '5825 crore (e-VFS).Thirty-seven new tie-ups were established during the financial year including CG Power& Industrial Solutions Limited Skoda Honda India Power Limited Bajaj Auto LimitedNestle India Limited Ambuja Cement Limited Trident Limited and Tata Consumer ProductsLimited among others. New e-DFS limits of '5643 crore were sanctioned in this financialyear up to 31st March 2022. To ring-fence the supply chain portfolio your Bankhas put suitable risk mitigation measures and risk-based pricing for the Supply ChainPortfolio. Being the country's largest lender your Bank has also undertaken a leadershiprole in implementing proactive measures to support the dealers availing of the e-DFSfacility during the covid pandemic related business slowdown. Your Bank has simplifiede-VFS processes and built a front-end digital interface for a vendor to enhance customerexperience.

3. Business Partnerships and Tie-ups

Warehouse Receipt Finance: Your Bank has introduced a Warehouse ReceiptFinancing scheme (WHR) for financing against Warehouse Receipts issued by collateralmanagers having a tie-up with the Bank. Under the scheme finance is extended to traders/owners of goods/ manufacturers etc. Further WHR issued by Central Warehousing Corporation(CWC) and State Warehousing Corporation (SWC) would also be eligible for WHR finance. SBIhas also tied up with repositories NERL & CCRL for financing against e-NWR and NEML (asubsidiary of NCDEX) for the e-auctioning of NPA/stressed accounts under WHR Financingscheme.

3. Rural Banking - Agri Business

Your Bank's lending under Agriculture & Allied activities hascrossed the milestone of '227000 crore during this financial year catering to more than1.42 crore farmers. During the year the Agriculture Gold loan portfolio has increased to'73601 crore in FY2022 from '66878 crore in FY2021.

Under Atmanirbhar Bharat schemes viz. Agri Infrastructure Fund (AIF)Animal Husbandry Infrastructure Development Fund (AHIDF) and PM Formalization of MicroFood Processing Enterprises (PM FME) your Bank has disbursed loans to 1400 borrowersamounting to '806 crore.

Credit disbursements to the farmers over the years are as follows:

Flow of Credit to Agriculture

(Rs. in crore)

Year Target Disbursement % Achievement
FY2019 116315 156385 134
FY2020 127947 177473 139
FY2021 174468 198268 114
FY2022 192500 219396 114

1. Micro Credit:

Your Bank has won the National Award for the Highest SHG bank linkagesconsecutively for 2017-18 2018-19 201920 and 2020-21 instituted by the Ministry of RuralDevelopment New Delhi.

Your Bank has the second-highest market share in SHG loans outstandingamong all banks with outstanding loans of '24023 crore to 8.71 lakh SHGs as of

31.03.2022. covering more than 85 lakh women members. SBI's marketshare of loans under the National Rural Livelihood Mission is the second-highest amongPSBs which is 25.80% as of 31.03.2022.

Since the inception of Deendayal Antyoday Yojana (DAY-NRLM) your Bankhas financed 2935453 SHGs under Bank- SHG Linkage and disbursed '66821 crore up to31.03.2022.

Your Bank has disbursed '882 crore under the e-Mudra scheme forMicrofinancing enterprises up to '50000 since inception. In the Current Financial year124763 loans have been sanctioned and '562 crore have been disbursed up to 31.03.2022.

Your Bank has launched "PM SVANidhi Loans" with effect from02.07.2020 to support the livelihoods of street vendors during the Covid-19 pandemic. InFY 2021-22 we have disbursed 348041 loans amounting to '406 crore to Street Vendorsunder both tranche I & II as of 31.03.2022.

2. Digital step collaborations:

Currently your Bank has an Agri Gold loan and KCC review on YONOKrishi digital platform. Your Bank has launched YONO Krishi SAFAL Dairy during the yearan end-to-end digital product for financing dairy farmers. Your Bank has also embarkedupon digitising all the journeys in Agriculture.

To address high volume and low- value ticket loans in Agri-Businesswith a digital optimisation strategy your Bank is onboarding AgriTech-BCs withdifferentiated Business Models. These AgriTechs will help source service and collectAgri and Microcredit products.

To enhance our reach to the unserved & underserved populace wehave signed MoUs with seven NBFC MFIs under the Co-lending model.

Your Bank has executed agreements with 19 National BusinessCorrespondences (BCs) and 42 State Level BCs to collect repayments in Standard overdueaccounts. 57145 Customer Service Points (CSPs) have been mapped with 14657 branches forcollection on 31.03.2022.

3. Financial Inclusion (FI)

Your Bank has aligned its business goal with national priorities andfocused attention is given to a range of financial inclusion activities. SBI has madeimpressive strides toward financial inclusion through a vast network of BusinessCorrespondents (BCs) and Customer Service Points (CSPs). As of 31st March 2022your Bank has 68016 CSPs providing access to around 26 banking products and services inunbanked areas while reducing footfalls in the branches. The BC/CSP channel has recorded~54.44 crore transactions amounting to Rs.287857 crore during FY2022.

The BC/CSP channel is increasingly becoming one of the most crucialdrivers of financial inclusion initiatives of the Bank. The channel has opened 14.20 croreBSBD accounts with Rs.42450 crore deposits and has brought the unbanked/ under-privilegedsection of the society under the ambit of the formal Banking system. To fulfil the needsof social security measures low-cost microinsurance products (PMJJBY PMSBY) and pensionschemes (APY) are provided to the unorganised sector in a significant way covering around10 crore customers.

4. Imparting Financial Literacy (FLCs)

Your Bank has set up 341 FLCs across the country to impart freefinancial literacy credit counselling and the propagation of electronic payment systems.Furthermore as a part of the RBI initiative to propagate awareness of financial productsamong the rural masses your Bank has also set up 189 Centre for Financial Literacy (CFLs)at the block level which will be scaled up to 235 in the near future.

5. Rural Self Employment Training Institutes (RSETIs)

Your Bank has set up 152 RSETIs spread across 26 States and 3 UnionTerritories. RSETIs act as social change agents empowering rural youth towardssustainable livelihood through skill development and training helping them establishtheir micro-enterprises thereby creating rural employment and wealth creation. During theongoing pandemic the Bank's customer service points across the country served underchallenging terrains/conditions to meet the financial requirements of the people in need.

4. Government Business

Your Bank is at the forefront in conducting Government Business and isan accredited banker to major Central Government Ministries and Departments. SBI is themarket leader in Government Business with a market share of over 63% in CentralGovernment Turnover.

Particulars (Rs. in crore) FY2021 FY2022
Government Turnover 5077446 5518281
Commission 3618 3713

It is a matter of pride that SBI is one of the significant bankers tothe Government of India. Your Bank is continuously engaged in developing customizedtechnology solutions to keep pace with the Government's digital initiatives facilitatingthe transition to the online mode providing greater efficiency and transparencyresulting in ease of doing business and ease of living for the citizens. SBI is activelyengaged in implementing Social Security Schemes of the Government of India namely PMKisan Samman Nidhi Yojana Pradhan Mantri Kisan Maandhan Yojna and PM Garib Kalyan Yojnafor PMJDY Women Beneficiaries. The key initiatives for FY2022 include:

PM Kisan Samman Nidhi Yojana: As an accredited Bank to the Ministry ofAgriculture & Farmers Welfare your Bank facilitated the distribution of Rs.62439crore under the scheme.

Direct Benefit Transfer (DBT): All the major schemes of Direct BenefitTransfer (DBT) of GOI and State Governments are being implemented through your Bank on apan India level. State Bank of India is the sole banker for processing the Direct BenefitTransfer of LPG subsidy (DBTL).

Ministry of Rural Development: Your Bank has successfully onboardedHaryana Assam & Rajasthan State Governments on e-Tendering Solution for collectingEMD by NRIDA (National Rural Infrastructure Development Agency). The onboarding processfor Pradhan Mantri Gram Sadak Yojna is in process. All the remaining State Governments arescheduled to be onboarded in a phased manner.

Ministry of Defence (MoD): Ministry of Defence has launched a SPARSHportal for centralized processing pension of Defence pensioners. Your Bank has enteredinto an agreement with MoD for providing various services to defence pensioners on theSPARSH portal through our 446 (defence pensioner intensive) branches.

Armed Forces Battle Casualties Welfare Fund (Maa Bharti ke Sapoot):Ministry of Defence has planned to launch ‘Maa Bharti Ke Sapoot' to raise funds forDefence Personnel. Your Bank has opened an account in the name of "Armed ForcesBattle Casualties Welfare Fund" to receive online donations from the citizens throughSBI Payment Gateway.

Ministry of Railways: The Ministry of Railways developed an exclusivePortal for e-Freight. SBI has integrated SB MOPS with their Portal. For collectingreceipts the Ministry of Railways has developed e-Receipts Systems (MERS). SBI hasintegrated with MERS through SB MOPS to collect the funds and has provided a seamlesssystem for the settlement of funds.

Department of Posts: MoU has been executed for the CentralizedIntegrated Payment System (CIPS) to take care of entire Postal Payments.

Centrally Sponsored Schemes (CSS) under Single Nodal Account mechanism:

Govt. of India has issued directions for implementing the Single Nodalaccount (SNA) mechanism (subsidiary accounts of implementing agencies (IA) with allocatedlimits) for monitoring the utilization of funds released under Centrally Sponsored Schemes(CSS). Your Bank has onboarded TCS to develop a new application for CSS under the SNAmechanism as per GOI guidelines.

Pension Payments: Your Bank has been administering pension payments to52.96 lakh pensioners. New pension accounts of 3.40 lakh pensioners have been added inFY2022. Your Bank has launched a Video Life Certificate facility for pensioners whichallows pensioners to submit their Life Certificates through video.

Small Savings Schemes: Your Bank services more than 85.04 lakh PPFaccounts 22.74 lakh Sukanya Samriddhi Yojana (SSA) accounts and 11.69 lakh Senior CitizenSavings Schemes (SCSS) accounts making it the highest among all the authorized banks.During FY 2021-22 4.62 lakh PPF accounts 2.43 lakh SSA accounts and 1.40 lakh SCSS wereadded.

Online extension of PPF accounts: This feature has been rolled out tocustomers to renew their PPF accounts online. The facility has been rolled out for sendingan SMS alert to the PPF customers reminding them of the account renewal if they wish toextend.

5. Digital & Transaction

Banking (D&TB) - Marketing

D&TB Marketing erstwhile known as the Transaction Banking Unit(TBU) leverages the latest technology to provide clients with comprehensivetransaction-related products and solutions. The objectives of TB business in your Bank areto adopt new technology initiatives catering to clients' bulk transaction requirements andother value additions like customised MIS integration with ERP and a dedicated singlepoint Client Support Cell among others. Study and analysis of transaction patterns enableyour Bank to develop non-traditional techniques for assessing other Banking requirementslike Credit Fund Management Cross-Selling and other services for clients.

Technology advancements are continuously implemented towards backendprocesses and robust customer service delivery channels. The key to customer satisfactionis delivery and to deliver the finest services to our clients your Bank has added newsolutions like VAN based Cash & Cheque Collections Digi Voucher & NACH off-us.

Your Bank has a multi-channel delivery model which allows it to offerits clients a choice to carry out transactions through any channel at any time and anyplace. Your Bank offers a wide range of TB products to Corporates MidCorporatesGovernment Departments Financial Institutions NBFCs Insurance Companies Banks MutualFunds and SME Clients to facilitate their fund management requirements.

The Corporate customers are serviced by a dedicated team comprising ofseveral sub-teams focused on specific areas to facilitate specialisation and tailoredproduct offerings to clients. Your Bank was recognised as "Best Cash Management andTransaction Bank in India" by Asian Banker Magazine Singapore under TransactionFinance Awards 2021.

Current Account (CA) balances contribute directly to the profitabilityof your Bank by reducing the Cost of Deposits (COD) and improving Net Interest Margin(NIM). CA remains a critical component of the CASA deposits. SBI has a bouquet of CAproducts which are competitive in the market and meet the requirements of differentcustomer segments. Your Bank has taken various initiatives to improve the CA business andthey include:


• Training on YONO Products CKYC & Online Current Accountopening held for RMCAs (Relationship Manager Current Accounts).

• High-value Current Accounts (CAs) mapped to RMCAs.

• SSL executives being provided for Feet on Street (FOS) support.

• Updation of the KRAs in line with the revised role.

• Two days of training for soft/ hard skills at SBICB Hyderabadfor RMCAs including 4-days training for navratna centre RMCAs.


• Revised AOFs which are more User- friendly.

• Online CA Opening facility.

• CKYC for Digital transmission of AOF & KYC documents. Itwill help in improving TAT in the CA opening. SOP Trainings SMS emails for the same.

• Functionality for Back-end conversion of CAs to CCOD forcompliance with RBI guidelines.

• CIC Report (for compliance with RBI guidelines) made availablefor operating functionaries.


• Integration of MCA SPICe Form for CA opening (Underdevelopment).

• Shubharambh Start-up Current Account for Start-up entities.


• Enhanced CA visibility on SBI Corporate Website.

• Mobiliser Code for mapping of Marketing Executives.

• CA Re-imagined Journey through YONO business to simplify CAopening process.

As on Mar 2022 Daily Average Balances in Current Accounts havepositive YOY growth of Rs.23938 crore (12.96%) from '184669 crore (March 2021) toRs.208607 crore (March 2022).

SBIePay: SBI is the only bank in India to have its own ‘PaymentAggregator Services' (SBIePay) which was launched in March 2014. Unlike other bankswhich rely on the services of private aggregators SBI has an in-house aggregator whichwhen coupled with SBI's own PG services gives SBI the security and a distinct costadvantage over other aggregators and banks. Additionally Government merchants preferhaving their data handled by SBIepay over private aggregators.

Your Bank has on-boarded over 1391 merchants including Central/StateGovt. Departments Universities Charitable trusts private Merchants/ institutions amongothers. Your Bank is integrated with 40 significant Banks for INB transactions. It usesSBI PG for Debit and Credit Cards of VISA Master and Rupay and Prepaid Card directlyintegrated with Amex and PayPal. It also has Cash & Cheque (Branch Payment) NEFT& UPI and UPI QR Code as a payment mode. The link-based payment option has beenrolled out for merchants to accept online payments without needing a Website.

Merchant on-boarding on SBIePay registered a YoY growth of 73.87% byon- boarding 346 merchants in FY2022 over 199 merchants in FY2021. YoY growth in FeeIncome went up by 70.71% from '26.1 crore in FY2021 to '44.45 crore in FY2022. Theturnover in transaction value registered a Y-o-Y increase of 55.30% with transactionsamounting to '84934 crores in FY2022 over '54690 crores in FY2021.

SBI e-pay plans: Increasing payment options by integrating with PaymentWallets Channels.

• On-boarding large Corporates Private merchants &Universities with large transaction volumes.

• Integrating with typical Portals/ Technology service providersfor continuous business through a single integration.

• Digital on-boarding of a merchant with the online upload ofmerchant KYC and on-boarding agreement.

• Validation of GSTIN & PAN while on- boarding the merchantsdigitally

YONO Business

YONO Business is an integrated platform (available on both mobile Appand desktop) designed to serve a whole range of banking needs -Trade Finance Forex CashManagement Internet Banking and Supply-chain finance - for corporate customers acrosscategories from the biggest conglomerates to emerging startups.

Key Performance Highlights of YONO Business (as of 31stMarch 2022):

• YONO-B platform adoption: 17.53 lakhs Corporate Users have usedYONO Business by the end of FY2022.

• Customer Onboarding: 139413 New to Digital customers wereonboarded till FY2022 through the YONO Business portal.

• Import LCs: Processed issuance of 23883 Import LCs amounting to'167279 crores with 66% being Digital LCs a jump from 7% in FY2019.

• Forex Rate Booking: Facilitated forex booking of more than'23602 crore with 23618 transactions by the end of FY2022.

• PABL/PABL-POS: 13372 of PreApproved Business Loans (PABLs)amounting to '551.92 crores were opened by the end of FY2022.

• YONOB Mobile App Adoption: The registered user base of the YONOBmobile App is 6.19 lakhs by the end of FY2022. Total downloads since 1st July2020 (date of launch) are 20.01 lakh.

• Current Account Opening: Facilitated online requests for theopening of 101248 current accounts by the end of FY2022.

• API Banking: API Sandbox environment has been created wherecustomers can explore the sandbox and subscribe for UAT and production. Payment APIsenable posting from the customer's ERP to Bank's CBS via YONO Business. Two types ofPayment APIs are available: STP (direct posting) and non-STP (request initiated fromcustomer's ERP and approved by corporate checker in YONO Business).

6. Corporate Banking

A. Corporate Accounts Group (CAG)

Corporate Accounts Group (CAG) is a dedicated Business Unit (BU) ofyour Bank. It handles SBI's ‘high-value credit' portfolio as a specialised andefficient delivery platform. The CAG BU has four specialised Branches headed by GeneralManagers located in India's top three commercial centres namely Mumbai (2) Delhi (1)and Chennai (1).

In SBI CAG BU is a one-stop-shop that provides a wide range offinancial products and services exclusively to toprated corporates including theirforeign associates and subsidiaries. The business model of CAG BU is based on therelationship management concept and each client/business group is mapped to arelationship manager who spearheads a cross-functional client service team consisting ofhighly skilled credit and operations functionaries.

The relationship strategy is anchored on delivering integrated andcomprehensive solutions to the clients including structured products within a specifiedtime frame. The prime objective of the plan is to make SBI the first choice of topcorporates. A regular review of each corporate relationship by senior management sets thebenchmark for relationship management in CAG BU.

Apart from various core credit products CAG BU offers an array ofcustomer- specific products like Cash Management Product Treasury and Forex products andMerchant Banking products in association with other SBUs and subsidiaries of SBI such asSBI Capital Markets Limited and SBI Gilts Limited amongst others.

Client Service Teams at CAG Branches also aid customers in theselection and delivery of a wide variety of products and services offered by SBI'sassociates and subsidiaries listed below:

• For Capital Market Requirements - SBI Capital Markets Limited(SBICAPS)

• For Treasury and Investments - SBI Gilts Ltd and SBICAPSecurities Limited

• For Investments - SBI Mutual Fund Limited

• For General and Life Insurance - SBI General Insurance CompanyLimited and SBI Life Insurance Company Limited

• For Receivables factoring - SBI Global Factors Limited

• For Custodial Services Banking to Foreign (FII FPI FVCI) &Domestic Institutional Clients - SBI Societe Generale Global Securities Services Pvt.Limited (SBI-SG)

To align with the changing banking landscape your Bank has created twospecialised units within CAG BU:

Corporate Solutions Group (CSG) - looking at 360? banking requirementsof corporate customers in significant sectors namely FMCG Auto Agri Pharma and IT tocover their entire ecosystem and with a focused thrust on existing as well as new- to-bankcustomers.

Financial Institutions Group (FIG) - to address credit transactionalgeneral banking and non-banking requirements of Financial Institutions such as InsuranceCompanies Brokerage Firms Banks (Private and Foreign) Mutual Funds FDI and FPIentities.

The total loan portfolio of CAG BU as of 31st March 2022 was'6.18 lakh crore (fund based - '4.02 lakh crore and nonfund based - '2.16 lakh crore)compared to a total loan portfolio of '5.42 lakh crore (fund based - '3.61 lakh crore andnonfund based - '1.81 lakh crore) as on 31st March 2021. Demand for credit haspicked up in the second half of FY2022 resulting in '0.76 lakh crore net credit growth atthe CAG BU. Major top corporates of the country and Navratna PSUs are esteemed customersof the CAG BU.

B. Treasury Operations

Global Markets performs domestic

Treasury Operations of your Bank and is responsible for deployingsurplus funds to achieve desired risk-adjusted returns. Global Markets' portfoliocomprises investments in SLR (Statutory Liquidity Ratio) and Non-SLR Securities PubliclyTraded Equities Venture Capital Funds Private Equity and Strategic Investments.Additionally it offers multiple products and services that cater to its customers'foreign exchange and risk management requirements.

Interest Rate Movements & SLR and Non-SLR portfolio

Global Markets manages your Bank's domestic Investment Portfolio andmaintains regulatory requirements of CRR (Cash Reserve Ratio) and SLR (Statutory LiquidityRatio). COVID-19 pandemic continued to significantly impact economies and financialmarkets worldwide with geopolitical tensions further exacerbating market sentiment.

One of the primary features of FY 2021-22 has been rising globalinflation mainly due to higher commodity prices and supply chain and logisticsdisruptions. In India CPI has remained above RBI's target of 4% throughout the year andhas continued to rise steadily above 6% in the last few months mainly due to upwardpressure on crude edible oil prices and other commodity prices.

During FY 2022 RBI continued to take various monetary measures tosupport economic growth. To facilitate Government's extensive borrowing programme duringthe first half of the year RBI introduced G-Sec Acquisition Program (G-SAP). RBI alsocontinued unconventional measures viz. Targeted Long-Term Repo Operations (TLTROs) forSmall Finance Banks Liquidity Facility for All India Financial Institutions (AIFIs)asymmetric Open Market Operations (OMOs) simultaneous Sale and Purchase of securitiesetc. With ample liquidity in the banking system the earlier relaxation in CRRrequirements was gradually withdrawn starting from March 2021. Relaxation to avail fundsunder Marginal Standing Facility (MSF) by dipping into the Statutory Liquidity Ratio (SLR)up to an additional one per cent of Net Demand and Time Liabilities (NDTL) i.e.cumulatively up to 3 per cent of NDTL was also made available till 31stDecember 2021. RBI also undertook Variable Rate Reverse Repo operations of differenttenors under the Revised Liquidity Management Framework to manage durable and transientliquidity.

The fiscal deficit for FY 2022-23 is estimated at 6.40% of GDP asagainst 6.90% (revised estimates) in FY 2021-22. The Centre has announced a record grossborrowing of '14.31 lakh crore as against market expectations of about '12.50 lakh croreresulting in a sharp rise in bond yields. Following monetary and liquidity tightening bymajor Central Banks along with high inflation numbers the Indian 10-year benchmark bondyield closed at 6.84% on 31st March 2022.

Your Bank has prudently managed the excess liquidity position and iswell placed to handle the expected moderation in liquidity. Your Bank has invested in amix of high-quality corporate bonds and Government securities while maintaininglow-interest-rate sensitivity in preparation for a rise in yields.

Equity Markets

Global and domestic Central Bank liquidity and swift economic recoveryfrom the second wave of COVID-19 helped our equity market outperform global indices in thefirst half of the financial year. However equities corrected in the second half of theyear as market participants weighed inflationary pressures commodity prices a slowdownin growth hawkish FED and geopolitical tensions. Indian equities posted decent returnsin the current financial year with the Nifty 50 index recording 18.88% year-on-year gainsand ending the year with the second- best returns in seven years. The domestic benchmarkequity index Nifty 50 traded between a high of 18604 and a low of 14151 during theFY2022.

Your Bank actively participated in the rally in equity marketscalibrating the investment book as per market dynamics. The year also saw a flurry ofIPOs including new-age tech companies with solid listing gains. Your Bank's activeparticipation in the primary market including InvITs and REITs has proven fruitfulgenerating high returns. Your Bank manages the equity portfolio by realigning the bookaccording to market movements while keeping a tab on domestic and global macros towardsachieving substantial risk-adjusted returns.

Private Equity / Venture Capital Fund

Your Bank has been an active participant in the Alternative Investmentspace during FY 2021-22 and has supported startups through direct equity participation.

During the year your Bank sanctioned investments of more than '1500crore in Private Equity / Alternative Investment Funds.

Forex Markets

Global Markets handles the foreign exchange business of your Bankproviding solutions to the customers for managing their currency flows and hedging risksthrough options swaps and forwards and providing liquidity to markets. Your Bank is aleading player in USD-Rupee Spot and USD-Rupee Forward markets and has a high market sharein merchant foreign exchange flows. Your Bank is the leader in providing liquidity in theCCIL Fx Clear platform. The volume traded in Currency Futures puts your Bank in thebracket of leading client Banks of exchange houses. Your Bank is actively onboardingcustomers on the Fx-Retail platform rolled out by CCIL through which customers willbenefit from transparent and competitive pricing. Your Bank has made FX-All and e-Forextrading platforms available to customers looking at their requirements.

Last year RBI allowed Indian Banks to participate in the offshoreUSD-Rupee markets also known as the NDF market or Non-deliverable Derivative Contracts(NDDCs). Accordingly your Bank has started participating in the offshore USD-Rupee marketand is a significant player. India's merchandise trade volumes showed robust growth of49.80% Year- on-Year during FY 2021-22 which has also improved merchant volumes for yourBank.


Your Bank currently deals in Over The Counter (OTC) interest rate andcurrency derivatives along with exchange-traded currency derivatives and Interest RateFutures. The interest rate derivatives traded by your Bank are Rupee Interest Rate Swaps(OIS) Rupee Interest Rate Futures (IRF) Foreign Currency Interest Rate Swaps (IRS)Foreign Currency to Rupee Interest Rate Swaps (MIFOR) Forward Rate Agreements (FRA)Caps Floors and Collars. Currency derivatives dealt by your Bank are Cross Currency Swaps(CCS) USD / INR options and Cross Currency Options. These products and their customisedversions are offered to your Bank's customers to hedge their interest rate and foreignexchange exposures. Your Bank also uses derivatives for trading and balance sheet hedgingpurposes.

Your Bank has smoothly completed the transition from LIBOR toAlternative Reference Rates (ARRs) for all LIBOR settings phased out from 31stDecember 2021. For the last few months your Bank has been actively spreading awarenessamongst customers about the transition. The Bank has started ARR-based products likeFCNR(B) loans PCFC / EBR loans from 1st January 2022.

Derivative transactions carry market risk: the probable loss your Bankmay incur due to adverse interest and exchange rate movements. It also carries creditrisk the probable loss that your Bank may incur if the counter parties fail to meet theirobligations. Your Bank's "Policy for Derivatives" approved by the Boardprescribes market risk parameters (Greek limits Loss limits cut-loss triggers openposition limits Duration Modified Duration PV01 amongst others) as well as customereligibility criteria (Credit Rating sanctioned limits and CAS rating as per CustomerAppropriateness and Suitability policy) for entering into derivatives transactions. Riskon inter bank counter parties is monitored through limits set for the purpose. Thesecounter parties have also executed ISDA with your Bank.

Your Bank has various committees and departments to monitor multipletypes of risks. The Asset Liability Management Committee (ALCO) oversees the efficientmanagement of liquidity risks. Market Risk Management Department (MRMD) identifiesmeasures and monitors market risks associated with derivative transactions. MRMD alsoassists ALCO in controlling and managing these risks and reports compliance with policyprescriptions to the Risk Management Committee of the Board (RMCB) at regular intervals.

The accounting policy for derivatives has been drawn up in accordancewith RBI guidelines.

C. International Operations

In its endeavour to become a truly International Bank the focus ofyour Bank has been realigned to enhance its penetration in overseas local markets alongwith India based business to support Indian Diaspora and global Indian Corporates spreadacross various geographies. A separate Business Unit manages the Overseas operations ofyour Bank - International Banking Group (IBG) headed by the Deputy Managing Director(IBG) and overseen by the MD (IB T&S).

Overseas Subsidiaries/ Joint Ventures Share Holding (%)
State Bank of India (California) 100.00
SBI Canada Bank 100.00
State Bank of India (UK) Limited 100.00
Commercial Indo Bank LLC 60.00
SBI (Mauritius) Limited 96.60
Bank SBI Indonesia 99.34
Nepal SBI Bank Limited 55.00
Foreign Non-Banking Subsidiary
SBI Servicos Limitada Brazil 99.99
Joint Associate
Bank of Bhutan Limited 20.00

Global Presence: The Bank's first global footprint was with the branchof Bank of Madras in Colombo Sri Lanka in July 1864 (First amongst Indian Banks). With apresence across all time zones through its 227 locations in 30 countries the State Bankof India has gradually spread its wings across the globe. It has become a pioneer ofInternational Banking among the Indian PSBs. IBG is managing the overseas offices of SBI.

During FY2022 your Bank continued consolidating its overseas networkby rationalising operations with suboptimal performance and improving cost efficiencies.Your Bank has closed an overseas Subsidiary-Bank SBI Botswana Ltd and the Ilford branchof its subsidiary-SBI UK Ltd. has been merged with the East Ham branch. During thisperiod your Bank has not opened new branches/offices because of its focus onconsolidation and the prevailing global scenario due to the Covid 19 Pandemic. Overall IBGhad 227 offices at the end of FY 2022 with 55 branches/ offices 8 subsidiaries with 161branches/ offices along with 6 representative offices & 5 managed exchange JV/Associates.

Resilience by your Bank during a pandemic: Your Bank continues toexhibit its stability in overseas geographies by building upon its business volumesdespite heterogeneous challenges encountered in new variants of the Covid pandemic.

IBG adapted well to optimize its cost of resources given the liquidityflush in the market by substituting its high- cost resources with various low-costalternatives by diversifying its liability base. It has also leveraged its digitalofferings such as SBI YONO by launching in new geographies to improve penetrationthrough contactless offerings to raise retail deposits.

Despite various pandemic related challenges IBG has maintained itsfocus on business by registering a good growth in its overseas credit portfolio (over 15%)during the year while maintaining asset quality. Besides meticulous credit monitoring IBGhas been agile in managing assets showing signs of stress to minimize the possibility oflosses on account of further deterioration in asset quality. Further it has maintainedits connection with the clientele through various outreach initiatives with exporters andbanks among others to reinforce the existing relationships and forge new ones.

IBG has maintained profitability during the year despite the shrinkingof spreads and challenges in credit growth. It has exhibited marked improvement in vitalparameters such as Net Interest Income Non-Interest Income and Operating Profit amongothers on a YoY basis. It is continuing to leverage new income streams such as MerchantBanking and Receivables Financing among others to supplement its profitability.

The specialized departments of IBG have played a vital role insustaining the momentum by contributing on various fronts:

Credit Contribution & Business Driver:

While your Bank is an active partner of Indian corporates in theirglobal growth strategy by arranging debt in Foreign Currency by way of ECBs throughsyndicated deals in conjunction with other Indian and Foreign Banks and bilateralarrangements it has been increasing its presence in Local Credits by partnering withLocal/ Global Banks. Your Bank sanctioned Foreign Currency loans to the tune of USD 7.69billion to Indian related corporates and USD 16.72 billion to overseas entities by31.03.2022.

Sustainability: Foreign offices have participated in the creditfacilities having sustainability linked pricing to the extent of USD 1 billion.

Trade Finance: Your Bank offers a bouquet of Trade Finance products andservices to exporters and importers through an extensive well equipped branch networkthat operates in all the time zones in India and abroad. The objective of the Global TradeDepartment (GTD) of IBG is to support Foreign Offices (FOs) for orderly growth of theTrade Finance portfolio formulate policies and innovate new products for FOs as per themarket demands and changing regulatory norms. GTD facilitates Trade Credits to IndianCorporates for their imports by centralized handling of the Quote process and plays anessential role in synergizing business flows between Domestic and Foreign offices tomaximize returns. It also organizes trade-related workshops/ Conferences by partneringwith Trade bodies viz. BAFT (Bankers Association for Finance and Trade) GTR (GlobalTrade Review). Workshops are also organized by partnering with ICC FIEO among others toprovide a platform for networking with

Exporters/ Regulators/ Industry majors. The trade finance businessportfolio constitutes ~ 31% of the IBG advances portfolio. SBI has been awarded "TheBest Trade Finance Provider (India)-2022" for the tenth consecutive year by GlobalFinance Magazine.

Overseas Treasury Management:

Treasury Management Group (TMG) at International Banking Groupundertakes the following functions for Foreign Offices:

• Liquidity Management

• Dealing Room Operations

• Investments

TMG-IBG manages the overall liquidity portfolio of IBG and alsomonitors ALM ratios. TMG is the nodal department for raising Long and Medium-Term Fundsthrough Bond Issuance (MTN/ Standalone 144A) and Syndicated Loans. In addition to thisTMG also utilizes various means of borrowings to keep the cost of resources in check. Tooptimize the cost of resources during FY2022 the TMG has prepaid some of the high-costborrowings and replaced them with lower-cost funds. TMG is actively engaged withMultilateral / Supranational entities in arranging foreign currency finance/refinance atcompetitive pricing.

During the FY2022 Bank has issued Formosa bonds to the tune of USD 300Mio in January 2022 at the tightest pricing ever for a 5-year bond issued by any IndianBank. This was also the first Formosa issuance by any commercial bank in India.

TMG also manages the Investment Book of your Bank's foreign operationswhich currently stands at ~USD 7.06 Bn. These investments provide stable interest incomefor IBG and also help in the maintenance of liquidity ratios. The department also monitorsand provides guidance to dealing rooms at important centres and facilitates Money MarketForex and Derivative functions at FOs.

Currently there are five main dealing rooms in London New York HongKong Bahrain and IFSC Gift City that work on a hub and spoke model to help smallerForeign Offices in their operations. Your Bank is also working to develop IBU Gift City asanother fund-raising centre. In FY2022 your Bank has expanded the business of trading inRupee Non-Deliverable Forwards (NDF) through Hong Kong Singapore and IFSC BU(Gandhinagar) Your Bank is looking forward to expanding this activity to other centres aswell.

TMG has coordinated the LIBOR transition activities at your Bank. YourBank has successfully met the transition timeline of 31st Dec 2021 fortransition to ARRs other than USD LIBOR. All the branches' domestic and foreign officesare ready to offer products linked with ARR and have started offering ARR related productsfrom 1st Jan 2022.

Global Payments and Services: Global Payments & Services(GP&S) a unit under International Banking Group (IBG) comprises threebranches/offices viz. Global-Link Services (GLS) International Services Branch Mumbai(ISBM) and International Services Branch Ernakulam (ISBE). It facilitates online inwardremittances from overseas locations to India Foreign Currency Cheque collection Opening& Maintenance of Vostro Accounts Asian Clearing Union (ACU) transactions etc. Thehighlights of the year are:

• Tie-up with 45 Exchange Companies and five Banks forchannelising inward Rupee remittances from overseas to India.

• During FY22 GP&S handled 55467 Export bills (in USD andEuro) on behalf of domestic branches and 16500 Foreign Currency Cheque collectionsaggregating to USD 14.98 billion.

• During the same period GP&S handled 9.666 million onlineinward remittance transactions amounting to USD 6.693 billion received from variousglobal centres.

• 164 Vostro Accounts for different Correspondent Banks/ ExchangeCompanies/ SBI Foreign Offices are maintained.

• Pan India Nodal Office for handling ACU transactions for SBI.

Retail Strategy: Your Bank has been a "window to India" forNRIs residing in different parts of the world through its specialized retail andremittances products. The notable achievements for the year are:

YONO SBI one of the most ambitious and secure digital offerings of theBank has now been extended to customers at our overseas offices. It has been successfullylaunched in the UK Canada Mauritius Nepal Maldives Bangladesh South Africa SriLanka and Bahrain with non-face to face account opening facility operational in UK andCanada. We are planning to launch SBI YONO in Singapore and USA during FY23. More than83000 overseas customers have been onboarded through YONO.

"Namaste UK" product of YONO SBI UK has been launchedenabling prospective Indian Expats to open an Account with SBI UK even before landing inthe UK from India itself. A similar product has also been launched in Canada for StudentGIC accounts for Indian students enrolled in Canadian universities. We plan to launch asimilar product in Singapore in the coming months.

"One View" feature of YONO Global allows Foreign Officescustomers to view their Domestic SBI Accounts through YONO Global App practically mergingall enquiry features of Domestic YONO SBI with Global version. More than 3900 SBI ForeignOffice customers are already using this feature.

Financial Institutions Group (FIG) - Correspondent Relations: The Groupfacilitates linkages of your Bank with international stakeholders viz. FinancialInstitutions (FIs) Foreign Govt. Agencies and Developmental Financial Institutions(DFIs) among others facilitate synergy between IBG and other business Verticals such asCorporate Accounts Group Commercial Clients Group Retail Banking Group and GlobalMarkets.

FIG functions as a pivot in maintaining and reviewing CorrespondentBanking relationships with a network of 224 banks in 56 countries. It also supports RMAs(Relationship Management Application) established by domestic and foreign offices andyour Bank has 4255 RMA's with 845 Banks in 116 countries as of now. FIG adopts adata-driven approach through its FI CRM (Financial Institutions - Customer RelationshipManagement) application which provides a 360-degree view of engagements with partnerbanks.

FIG strives to make SBI the preferred global Banker for all IndianPublic sector and private sector banks by utilizing the SBI network's wide presence andproduct capabilities in 30 countries. FIG leverages on the relationships with domestic andforeign Financial Institutions for business development in areas of Cross border Tradefinance Syndicated Loans Treasury and forex solutions and other transaction bankingactivities.

The relationship value is factored in the Bank's decision-makingprocess including raising resources opening new Nostro/Vostro accounts and strategictie- up arrangements with banks.

IB-DOMESTIC: Your Bank is well equipped to provide a wide range ofproducts and services to exporters and importers through an extensive branch network thatoperates domestically and internationally. International Banking- Domestic (IBD) serves asa single point of contact between the Domestic Offices and Foreign Offices in areasrelated to Trade Finance and International Banking. IBD aims to improve synergies andtrade flow between Domestic Offices and Foreign Offices/ Correspondent Banks and thetrading community by forming a strong link between them.

IBD facilitates the growth of Export Credit by actively involvingbranches trade bodies & other stakeholders. As a result your Bank's Export Creditportfolio (outstanding credit) witnessed an increase of 32.98% as of 31st March2022 (YoY basis).

To facilitate the Trade community Forex Service charges are beingrationalized and aligned with the market every year by IBD. IBD also enablessystem-related enhancements and updates in Exim Enterprise/SWIFT.

Centralized Co-ordination Cell Foreign Bank Guarantee (CCC-FBG) forprocessing Inward and Outward Foreign Bank Guarantee has been exclusively set up under theaegis of IB-Domestic to provide a one-stop solution to Correspondent Banks/ ForeignOffices/ Domestic Banks/ Domestic Offices seeking Domestic/ Foreign Bank Guarantees basedon their counter guarantees.

IBD is instrumental in improving FEMA compliance across your Bank. Thedepartment ensures timely submission of RBI/FEMA related returns and issuing instructionsconcerning revisions in FEMA/ RBI guidelines.

Technology Initiatives at Overseas Offices: Your Bank continues toleverage technology solutions to automate processes enhance customer experience andmanage risk. Your Bank has been consistently leveraging digital channels to provide anomnichannel experience to Bank's customers across all geographies. YONO Global App hasemerged as the prime fulcrum for providing banking services to retail customers. Withalmost 50% of the custom i to access banking services the platform has evolved withenhanced features such as online account opening and real-time payments enabled via QRCodes bill payments among others

Your Bank has also embarked upon a complete revamp of its e-Banking webplatform following the latest functionalities and industry standards. This has beencompleted across six geographies during the year. Aiming to achieve dual objectives ofcost-saving and increased efficiency consolidation of back-office processes has gainedmomentum with the migration of jobs from 2 more geographies i.e. Canada and Singapore(in addition to the UK and Bahrain). Your Bank has ensured that all the compliance aspects- including data privacy and proper governance for these services are provided by enteringinto internal service level agreements as per industry standards.

With Compliance remaining the principal focus your Bank has ensuredthe roll-out of regulatory prescribed IT developments as per defined time frames acrossall geographies. These include card tokenization and online refund functionality inBahrain. Other developments include online customer consent registration for data sharingand Go-AML reporting for AML-CFT controls.

Your Bank has embarked upon automation of Regulatory reporting througha state-of-the-art centrally provisioned reporting system at its foreign offices/subsidiaries during the year. It plans to complete the roll-out by FY2023. Your Bank hascompleted online integration with Singapore's real-time immediate payment system namelyG3-FAST. It will enable payment processing on a real-time basis (24x7x365) maximizing theability to deliver innovative and commercially attractive products while minimizingsettlement risk.

7. Commercial Clients Group (CCG)

Commercial Clients

The CCG vertical handles the credit needs of medium & largecorporate clients with funding requirements of above '50 cr. CCG has 51 branches spreadacross the country including 3 direct branches headed by GMs. The vertical also includesspecialised branches catering to specific industries like Diamond Ceramics and Capitalmarket. The mandate of the vertical is to cater to the complete needs of this segment ofcorporate clients manage the associated risks and sustain growth.

The vertical is headed by the Deputy Managing Director and overseen bythe MD (CB & GM) and 5 CGMS manage the portfolio (including 1 CGM for ProjectFinance) and 1 CGM overseeing Operations. CGMs in the CCG are assigned as the grouprelationship owners to improve the quality of coverage and enable an integrated view ofexposure and earnings amongst others across the entire group. The business model of theCCG is also based on the Relationship Management concept with each Relationship teamheaded by a Relationship Manager & supported by skilled credit analysts and operatingfunctionaries. The Relationship team is hence equipped to handle the entire customerrequirement and draws upon the skill sets available in various SBUs where required tofully meet customer requirements. CCG has also formed the Centralised Resolutions Teamhandling the specialised requirements of customers requiring resolution due to thepandemic as well under the June 7 2019 RBI guidelines and for the monitoring of theapproved resolution plan for customers with exposure more than '200 crores. Timely andcomprehensive intervention is the most important aspect for resolution.

Some key initiatives to promote Export Credit Growth were taken duringthe year. These include:

Extension of T-Bill Rates to Rupee Export Credit: External Benchmark(T-Bill Rate) linked interest rates are extended to WCL and LC Bill Discounting facilitiesto encourage top-rated borrowers to increase utilisation of limits. Considering thepresent competitive market the T-Bill rate linked to interest rates has also beenextended to rupee export packing credit facilities.

Exporters? Meet: Various exporters' meets were conducted acrossIndia to increase exporters' awareness of the banking facilities offered by SBI.

TRRACS Software: Your Bank has introduced Trade Regulatory Reportingand Compliance Solution (TRRACS) Software which has led to a reduction in pendingEDPMS/IRMs/Export advances entries over a period of time and we could succeed in theremoval of these entries substantially enhancing customer satisfaction.

Apart from these initiatives a Digital Interface on Pricing andKnowledge (DIPAK) a pricing tool has been made available to operating functionaries andsanctioning committees to enable data-driven pricing of corporate loans. This has beenactively used in all the branches of CCG and has helped the vertical in better pricing ofproducts.

Project Finance and Structuring SBU

Your Bank's Special Business Unit known as Project Finance andStructuring Strategic Business Unit (PF&S SBU) deals with the appraisal andarrangement of funds for large projects in infrastructure and other sectors such as PowerRoads Ports Railways Airports and Refinery amongst others. It also covers othernoninfrastructure projects in industries such as Metals Fertilisers Cement Oil and Gasand Glass amongst others with a certain threshold on minimum project cost. The PF&SSBU also supports other verticals for vetting their significant ticket term loanproposals. To strengthen the policy and regulatory framework for financing infrastructureit provides advice to various Ministries of Government of India and the RBI with respectto lenders' views on new policies Model Concession Agreements and broader issues beingfaced in infrastructure finance.

There has been a step up in investment in the infrastructure sector bythe government along with various initiatives sectoral reforms and incentives such asthe National Infrastructure Pipeline (NIP) National Monetization Plan (NMP) PerformanceLinked Schemes (PLI) Disinvestment of Public Entities Sustainable Lending Gati Shaktiand National Single Window Systems (NSWS). This has resulted in an inflow of new projectsparticularly in sectors such as City Gas Distribution Road Power Renewables Metro RailGreen Hydrogen and Warehousing among others.

Based on sustained liaising with Government Ministries Authoritiesand specialised Marketing endeavours your Bank is well poised to garner more businessopportunities and maintain a leadership position in the infrastructure lending space. YourBank is closely monitoring all the projects under implementation and expects to tide overthe impact of the COVID-19 pandemic through the short to medium term.

Your Bank has also set up an experienced team of ‘StructuringSpecialists' to support deal structuring for significant proposals across lending bondsInternational Banking and Structured/Mezzanine Finance.

8. Stressed Assets Management

Today SARG stands as one of the most important verticals of your Bankand the GNPA of your Bank is on a course of a downward journey. Resolution of stressedassets by SARG presents the following latent income generating avenues for your Bank:

• Cash recovery in NPAs and AUCA

• Reduction in loan loss provisions

• Contribute to your Bank's bottom line.

• Unlocking the capital for credit extension.

The movement of NPAs in the Bank and recovery in written-off accountsduring the last five financial years:

Particulars FY 2018 FY 2019 FY 2020 FY 2021 FY 2022
Gross NPA 223427 172750 149092 126389 112023
Gross NPA 10.91% 7.53% 6.15% 4.98% 3.97%
Net NPA 5.73% 3.01% 2.23% 1.50% 1.02%
Fresh Slippages + Increase in O/s 100287 39740 54510 29332 26776
Cash Recoveries / Up- gradations 14530 31512 25781 17632 21437
Write-Offs 40196 58905 52387 34403 19705
Recoveries in AUCA 5333 8345 9250 10297 7782
PCR (Incl. AUCA) 66.17% 78.73% 83.62% 87.75% 90.20%
PCR (Excl. AUCA) 50.38% 61.86% 65.21% 70.88% 75.04%

Coming out of challenges posed by pandemic aftermath your Bank istaking all pre-emptive measures by extending assistance to its borrowers to face the newchallenges & continue as performing assets. However the current level of NPA hassignificantly come down over the years due to consistent recovery efforts including:

• Insolvency and Bankruptcy Code (IBC) 2016 for resolution ofstressed assets has provided Bank with a time-bound transparent and effective mechanismto tackle stressed assets. Resolutions have been achieved in some of the high-value NPAaccounts referred to the NCLT under the code. The cases referred to NCLT for resolutionare monitored at a specialised NCLT cell at SARG. A total of 994 cases (whole Bank) werereferred to the NCLT on 31st March 2022 out of which 773 cases have beenadmitted. Furthermore 152 cases have been resolved including some high-value accountsfrom RBI's 1st & 2nd reference lists.

• The OTS/Compromise route is also explored to recover stickyloans from eligible cases. Bank's Board approved OTS scheme for various productsnondiscretionary and non-discriminatory is also offered to all qualified borrowers formaximising resolutions.

• RBI's 7th June 2019 circular on a prudentialframework for resolution of high-value distressed assets has provided a new avenue fortime-bound resolution of these accounts. Your Bank is actively exploring resolution underthis model.

• In non-NCLT cases recovery is explored through action under theSARFAESI Act and suit filing in DRTs and courts. The sale of mortgaged properties isexplored through the common e-Auction platform https:// (‘eBKray - IndianBanks Auctions Mortgaged Properties Information) under the aegis of IBA.

Sector Specific Targeted Approach:

The Stressed Assets Resolution Group (SARG) focussed on prioritisingthe resolution of NPAs through a sector- specific approach. Currently the vertical isheaded by the Deputy Managing

Director and overseen by the Managing Director (R C & SARG) andtwo Chief General Managers overseeing the sector- wise portfolio and a CGM (Operations)monitoring the credit portfolio of accounts with an outstanding up to '50 crore andaccounts under liquidation. The Account Management Teams function under the guidance ofsix General Managers. As of March 2022 SARG has 17 Stressed Assets Management Branches(SAMBs) and 47 Stressed Assets Recovery Branches (SARBs) across the country covering 56%and 88% of your Bank's NPAs and AUCA respectively.

Compromises and NCLT: Apart from normal recovery a significant portionof the recovery at SARG comes from compromises and NCLT. The vertical also introducesspecial OTS schemes (non- discretionary and non-discriminatory) from time to time. A teamhas been set up to look after the sale of assets to Asset Reconstruction Companies (ARCs)on a Cash or Security Receipts (SR) basis.

Innovation in the Resolution of Stressed Assets: SARG introducedspecific innovative methods and gave first-mover advantage to your Bank in areas such asarranging mega e-Auction of a large number of properties on a Pan- India basis. For thispurpose the Bank is also making extensive use of a common landing platform for PSBs(https://ibapi. in ‘eBKray' - Indian Banks Auctions Mortgaged PropertiesInformation).

Resolution under IBC is a market-oriented mechanism where a highernumber of bidders for a particular stressed corporate debtor result in better valuationand maximisation of recovery for lenders. Hence a marketing team has been set up at SARGto reach out to a broader investor base and showcase our stressed asset undergoingresolution under/ outside IBC.

The transfer of eligible assets to NARCL is also being monitored atSARG with requisite enablers already implemented to ensure the smooth migration ofidentified assets. Around 22 accounts with aggregate exposure of approximately '17000crore are proposed to be transferred to NARCL in phases.

Various new IT initiatives have been rolled out including LITMAS(Litigation Management System) to better monitor legal recourses undertaken in thestressed accounts for expediting recovery. It will further strengthen the transparency andefficiency of the process.

IV. Support and Control Operations

1. Human Resources and Training

A. Human Resources

Your Bank believes in and acknowledges the critical role of itsemployees in achieving its present and future organisational goals. SBI recognises theemployees' focussed efforts to steer the Bank's performance to greater heights even duringthe turbulent period of the Covid Pandemic. The human capital of your Bank hasdemonstrated high motivation and spirit to face the new age challenge on the front oftechnology.

The Human Resources (HR) policies focus on making your Bank anemployee- oriented profitable and growing business organisation over a more extendedperiod of time.

The summarised HR Profile of the Bank as of 31st March 2022is as under:

Category FY2021 FY2022
Officers 108772 111549
Associates 100796 99259
Subordinate 36084 33442
staff & Others
Total 245652 244250

Productivity Enhancement Initiatives

Your Bank adopts a branch-based model for manpower planning to ensureoptimal utilisation of Human Resources. The model is based on the productivity parametersat the branches like identified work drivers of operations transaction load factorsnumber of advance accounts feedback from the operating units and organisationalstructure among others.

Your Bank has streamlined its promotion and transfer process and theseare now completed in the first quarter of a financial year. This gives the branches andother units the required assurance and stability to actively focus on business activitiesduring the major part of the year. In FY2022 despite the challenges posed by the Covid-19pandemic the promotion process was completed within the stipulated time.

Your Bank's Career Development System (CDS) under project"Saksham" ensures a transparent credible data-backed performance evaluationprocess for the assessment of employee performance. The system ensures accountabilityperformance visibility and greater alignment between individual and organisationalgoals.

Specialised skills are critical to success for a bank with a largefootprint and diversified roles. Your Bank has defined seven Job families and careerpaths viz. Credit and Risk Sales Marketing and Operations HR Finance and AccountsTreasury & Forex IT and Analytics for its officers in Scale-II to V to ensure deepdomain knowledge and foster expertise.

Your Bank has put a policy on succession planning for the seniorleadership positions to ensure a smooth transition at all the critical executive-levelplacements. Succession planning exercise has been completed for essential profiles of allDMDs CGMs and GMs during FY2022.

"SBI GEMS" a mechanism to promote recognition and developorganisational memory of such recognition is in place in your Bank.


Your Bank is actively recruiting specialised talent on a lateral andcontractual basis in Wealth Management IT Information Security Risk Credit and Auditamong others to meet the demands of the fastchanging business landscape and the regulatoryrequirements.

Your Bank is making extensive use of digital platforms in therecruitment process to reach out to a broader pool of candidates. Recruitmentnotifications and advertisements are published on Linkedin amongothers besides publishing recruitment notification on Facebook & Instagram handles.The use of social and digital media in recruitment process has enabled Bank to reach outto a larger pool of tech- savvy and aspiring candidates. Bank has also tied up withprofessional bodies such as ICAI to reach out to a good talent pool of candidates forspecialist positions.

Your Bank has formulated a comprehensive policy for engagement of itsretired employees on a contractual and short term basis for identified assignments such asmarketing recovery of stressed assets digital initiatives risk management audit andcompliance ATM monitoring and channel management among others. This will facilitatefilling the skill gap and help the Bank reduce its expenses to income ratio.

Gender Diversity: Gender Sensitivity and Inclusiveness have always beenthe cornerstone of your Bank's HR policy. Out of the total workforce the representationof women is 26.55% spread across all geographies and levels of hierarchy.

Reservations & Equal Opportunity:

Your Bank meticulously follows the GOI directives on reservation policyfor SC/ ST/OBC/EWSs/PWD. The Bank has a representation of SC ST OBCs anddifferently-abled persons among all the cadres of its workforce. Your Bank has implementedreservations applicable to "Economically Weaker Sections" in direct recruitmentfrom 1st February 2019 in terms of the GOI guidelines.

Representation as of 31st March 2022

Cadre Total SC ST OBC EWS DAPs*
Officers 111549 20366 9419 25764 246 2415
Clerical 99259 15750 7686 25987 693 2475
Sub staff 33442 8101 2164 8662 0 206
Total 244250 44217 19269 60413 939 5096

* Differently Abled Persons

Industrial Relations & Staff Welfare:

Your Bank has a harmonious relationship with the staff and officers'federations. Your Bank has been continuously emphasising a healthy work environmentmutual respect and empathy at the workplace to foster a healthy and happy workforce. YourBank took several transformative initiatives during the year for Staff Welfare to ensurethat your Bank remains at the forefront of banking in India and your Bank's employees areequipped to meet the challenges of tomorrow.

COVID-19 Pandemic: The 2nd wave of covid pandemic hit thecountry hard at the beginning of FY2022 and took a heavy toll on lives which includedmany SBI employees. However it did not deter the unwavering spirit of the Bank'scommitted frontline staff who ensured to deliver uninterrupted financial services acrossthe length and breadth of the country by fine tuning its existing model of work even withreduced staff strength due to pandemic related restrictions and associated lockdowns. YourBank has undertaken an intensive vaccination drive pan India for all employees and theirfamily members by arranging vaccination camps in association with reputed hospitalshealth care providers and local authorities. The proactive vaccination drive has achievedalmost 100% of eligible employees getting partially vaccinated and more than 90% fullyvaccinated. For the sake of the national cause around 2.50 lakh employees voluntarilycame forward on the occasion of the 66th Foundation Day of the Bank and donatedan amount of Rs.62.62 crore to the PM CARES Fund. This shows your Bank's unwaveringcommitment to supporting the nation in its fight against the Covid-19 pandemic. This wasthe second time in successive years that State Bank Employees have contributed to the PMCARES Fund. Last year they also contributed '100 crore for the same cause.

Care & Assistance for Retired Employees: In compliance with GOI andRBI directives your Bank has implemented a revision in family pension payable at auniform rate of 30% without any cap. An "Audio Visual guide" demonstrating thestep-by-step process of submitting a video life certificate on "Jeevan PramaanPortal" has been launched to help the pensioners. Your Bank has also extended thefacility of submitting a "video-based life certificate" through the"MyHRMS" app to SBI family pensioners.

B. Training: Changing the Game

The objective of training in your Bank has always been to enhance theworkforce's knowledge skills and attitude for superior business performance andcustomer orientation. The Strategic Training Unit (STU) of your Bank has introducedsignificant game-changers into the training eco-system to create a smarter and moreimpactful learning journey for your Bank's employees. The initiatives taken during theyear by our six top-notch Apex Training Institutes (ATIs) and 50 State Bank Institutes ofLearning and Development (SBILDs) have been successful and much appreciated.

Creating Unique Programmes for High Impact Learning

"Samarthya" Engagement Programme for Young Employees: YourBank launched Samarthya an engagement programme for all young employees in the age groupof 35 or below in December 2021. The programme has been designed for blended learningthrough a unique new hybrid channel - "Smart Classroom". Both Officers andClerical staff attend the programme as a group promoting rich cross-pollination ofperspectives and ideas. Over 67000 employees are to be trained under the programme and72% have been covered in FY2022. The programme's objective is to impart to the youngemployees a clearer picture of the ethical and professional standards expected of themtogether with a positive service orientation so that they genuinely epitomise ourlegendary organisation that has been serving India for more than 200 years.

"Leadership Lessons": Your Bank

organised a series of interactive virtual Power talks by topmanagement and eminent external luminaries for newly promoted GMs/ DGMs. For grooming andstrengthening the leadership skills of the newly promoted officials by learning from theexperiences and perspectives of top management and eminent industry/ leadership experts.

"Specialised Training Programmes":

Your Bank organised Specialised Training Programmes for 130 TopExecutive Grade officials in the specialised areas of International Banking & GlobalMarket Human Resources and Digital Banking & IT to prepare future leaders in thesedomains.

Pioneering Learning Channels for Uninterrupted Skilling SmartClassrooms: The Smart Classroom infrastructure has been newly created at AdministrativeRegional and Local Head Offices of your Bank throughout the country. It has opened up newtraining capacities while working around the pandemic disruptions. More than 400 SmartClassrooms impart training to more than 2000 employees a day. A Smart Classroom is aclassroom where virtual pedagogy-based training is provided to a small group of employeesbased in a geographic region. It combines elements of online learning and peer presence/interactions in a focused classroom-like situation for greater engagement and trainingefficacy.

Audio learning: A fillip was given to Podcast based learning through"SBICB- on-Air" podcasts on General Banking with 59 episodes & more than15000 listens and "Gurukul Vani" on topics related to Credit Risk NPA etc.with more than 54000 listens.

e-Panel Discussions: With the advent of social distancing your Bankhas convened 23 e-panel discussions for the current knowledge needs of the employees withparticipation from renowned industry experts and top management.

Theme-based Fridays: Under this initiative theme based webinars ontopics in different domains are conducted every Friday. The Themes have been designed tobest suit the requirements of the operational staff in the context of the current bankingenvironment. Twenty-seven such webinars were conducted with an average participation of225 staff.

Multi Theme Portal of Virtual Case Study Discussion Board (CSDB): Themultitheme functionality of CSDB was launched this year. Case studies on several themesare hosted on the portal every fortnight and employees compete to complete a quiz andanswer questions based on the Case Study. Peer learning is promoted through a virtual"Discussion Board". The host ATI also arranges for an e-panel discussion withpanellists from the respective vertical external speakers and faculty. Since itscommencement in 2020 more than 97000 employees have participated in the initiative

Focus on Quality for Deep-rooted Learning

Revamp of RBCs: 42 mandatory internal Role-Based Certifications (RBCs)have been designed and placed on SharePoint and the mobile platform for anywhere anytimeaccessibility. These e-Role Based Certifications are followed by an entirely casestudy-based certification examination for a deeper understanding and practical applicationof the concepts. 98% of the eligible officers and 97% of the eligible award staff clearedtheir e-RBCs during the year.

Massive Open Online Courses (MOOC) such as e-Lessons: In addition tothe repository of elective e-learning content which is available to employees in FY-2021-22 four new mandatory e-lessons on relevant subjects have been developed in a newMOOC format for enhanced engagement and user interest. 95% of eligible employees havecompleted these e-lessons.

Research: The Research wings at ATIs partnered with BUs for studies onthe financial and industry trends and carried out studies on learner interest and trainingefficacy to ensure the alignment of training to business needs. A total of 70 studies wereundertaken in FY2022.

External Academic Connect: Your

Bank creates exclusive programmes for prestigious organisations whichhelps us keep abreast of external developments hones the training skill of faculty andalso catalyses interchange of ideas all of which distils into better training quality forSBI employees. Bank's clientele range from Regulatory bodies and Government departments toPublic and Private Sector Banks Corporates- both domestic and international and reputedB-Schools.

Contemporary Content Aligned with User Needs

Gender Equity: Samya 2.0 by ATI is a collection of interventions whichreinforce gender parity and sensitivity in the workplace. During the year the highlightsof the initiative were 10 case-let based quizzes 10 webinar programmes for employees ane-compendium on situation analysis and an annual magazine putting forth the views of womenleaders in your Bank.

Inclusiveness: A week-long specialised training programme for VisuallyImpaired (VI) & Hearing Impaired (HI) employees working from home was conducted incollaboration with SBI Foundation to ensure their engagement even when exempted fromattending office. Twenty- three such programmes were conducted during FY2022.

Aspirational Courses: 10 Aspirational Courses have been designed bydifferent ATIs to encourage employees to enrich their knowledge and skills beyond roleobjectives. The aim is to help employees in future career progression by giving them themeans to upgrade themselves with knowledge and skills in areas that may berelated/unrelated to their current role.

Upholding Corporate Concerns: Your

Bank cares deeply about providing excellent customer service andcreating safe workplaces. Comprehensive training support in the form of customised contentdesign training to Faculty /mentors for impactful delivery and effective programmedelivery is ensured for sustaining User Department Projects such as Project"Utkarsh" on Customer Service and Project "Maitreyi" on Mentoring theMentors for equipping the identified senior women officers to guide the younger womenemployees understand their problems and help them resolve conflicts.

Quality at Core: The objective of "Quality at Core" was tocreate a sustainable independent troubleshooting mechanism at 691 identified branchesleveraging the tenets of the Quality Circle (QC) Concept to resolve problems related tobanking and operations. The SBILD Faculty guides them in the implementation of theprojects. In FY2022 all branches under the intervention have successfully implemented twoprojects each.

Online Assessment Centre: To gauge the competencies of senior officialsof the Bank an Online Assessment Centre/ framework was developed to assess and evaluatethe leaders' competencies viz-a- viz organisational competency framework followed bysharing of Individual Developmental Plans (IDPs) and a guided development journey. InFY2022 2233 assessments were completed IDPs shared with the officers and theirDevelopment Journeys (DJs) initiated.

Family-friendly event to foster positivity:

SBI Wizards an annual quiz competition in which family members ofemployees also participate is in its second year. More than 16000 families registered forthis annual mega-event.

Leveraging Digital for Self-motivated learning

Continuous self-learning was implemented using exciting contentdelivered through online modes; on an average 10000 employees participate every month inthe daily quizzing portal My Quest Today. Further several users registered for Gamifiedlearning App- Play2Learn crossed 69000 and askSBI - the in-house search engine was usedby 92.74% of branches of your Bank in FY2022.

Creating a Distinctive External Identity Tie-up with NSE: SBI has arobust inhouse training infrastructure world-class digital learning content andproficiency to deliver specialised training on diverse subjects. To explore the avenues ofassociation to market in-house content/ courses your Bank was invited by NSE Academy tohost SBI's E-Learning content on their digital platform. SBI entered into an agreementwith NSE Academy in June 2021 to host courses on their NSE Knowledge Hub.

MOU with edX: As a part of an agreement with edX your Bank is offeringits Massive Open Online Courses (MOOCs) on the edX platform. In FY2022 25 courses werehosted on the edX platform in different domains taking the total number offaculty-developed courses hosted by SBI on edX to 37 with 29000+ learners worldwide.

Apprenticeship- Contributing to Nation Building: Your Bank has engagedmore than 2455 apprentices under the Apprentices Act 1961. After completing their BasicTraining they are now undergoing a year-long on-the-job training (OJT) at our branchesacross the country.

Growing Sustainably

Your Bank believes in responsible consumption to positively impact theworld. ATIs & SBILDs use clean energy using solar plants and employ water conservationand rainwater harvesting systems; many have captive Sewage Treatment Plants (STPs) withrecyclers and vermicomposting for recycling biodegradable wastes. We also maintain allATIs & SBILDs as "Plastic Free Zones" where single-use plastic is not used.Four of six ATIs are certified as Green Buildings by Indian Green Building Council withthree rated Platinum and one Gold.

Milestone & Recognition State Bank Staff College (SBSC) Hyderabadcelebrates its Diamond Jubilee: Established on December 2 1961 in Hyderabad SBSC is oneof the earliest such training institutes in the country. For the past six decades StaffCollege has trained generations of bankers within the State Bank of India and officersfrom other banks in India and abroad. The institute also conducts training programmes foreducational institutions and government officials. Most of the Top Management of StateBank of India over the years received their initial grooming at State Bank StaffCollege. The Staff College celebrated its Diamond Jubilee in a commemorative functionheld at its premises at Begumpet Hyderabad. The event was graced by Chairman.

Your Bank won Gold in the prestigious ET Human Capital Awards under thecategory ‘Excellence in Creating a Culture of Continuous Learning and Upskilling'.

2. Information Technology

A. Network Infrastructure Improvement:

Your Bank has taken several initiatives during the year to ensuresmooth operations and customer satisfaction. Your Bank has been working on upgrading theATM connectivity by arranging 4G connectivity to off-site ATMs. Your Bank is relentlesslyworking to improve the network experience and minimise branch isolations. Your Bank hasarranged Alternate Secondary Links to the branches and offices to reduce the impact due tothe link failures. Several unreliable and high- latency network links have been replacedwith low-latency wired and terrestrial wireless links. Your Bank has devised to receiveearly warnings and insights related to complex cybersecurity threats and comply with theregulatory requirement per RBI Cyber Security Framework by arranging a honeypot solution.Your Bank in its endeavour to better manage its network operations has established anadvanced AI/ ML and Analytics based Network Operating Centre.


YONO the path-breaking and secure digital offering of your Banklaunched on 24th November 2017 has already crossed 111.74 million downloadsand has touched 16.62 million logins in a day. With the user- friendly interfaceattractive branding round the clock availability and new innovative features in the AppYONO has helped the Bank reposition its Brand image as New Generation Bank with asustainable competitive advantage having various unique and state of the art technologicalfeatures. YONO is a single touchpoint and one-stop solution for various Banking Financial& Lifestyle needs of the customer through a convenient intuitive and user- friendlyomnichannel interface through a Mobile App (both android & iOS) offering customers oneview for an enhanced digital experience.

Customers can conveniently avail of pre-approved loans without visitingthe branch involving little to no paperwork. They can also access various financialproducts from the Bank's Joint Venture Companies comprising SBI Life SBI Caps SBI CardsSBI Mutual Fund and SBI General Insurance. YONO Cash a game-changer functionality allowsthe customers to make cardless withdrawals from SBI ATMs and PoS.

YONO Krishi is a comprehensive multilingual platform for agriculturesegment customers offering simplified finance for Agri Gold Loan KCC Review SAFAL Dairy(Pre-Approved Agri Loan) advisory/market intelligence related service (Mitra) Marketlinkages through online Market Place for agri-products (Mandi) Bachat (Financial SuperStore for farmers investment and insurance needs).

YONO has always been committed to providing enhanced user experience tocustomers obviating the need to visit the brick-and-mortar branch and continuouslystrives to offer new secure convenient responsive and innovative financial solutionsto the customers. During the FY2022 your Bank has provided transformational journeys.These include Insta Plus Video KYC Account Opening SBI Easy Ride Pre-Approved 2-wheelerLoan NPS Account Opening SAFAL Dairy Pre-approved Agri Loan Online Demat and TradingAccount Opening Car Loan New to the Bank (NTB) SIM Binding during App RegistrationGovernment schemes through YONO SBI Kavach Personal Loan scheme etc. and 86 otherenhancements.

C. Channels & Operations

1. Payment Aggregator and

Payment Gateway (e-Pay & PG)

Your Bank works both as a payment aggregator and payment gateway. Aunique PCIDSS certified secured platform facilitates seamless e-commerce transactionsbetween businesses merchants Customers and financial institutions for various paymentmodes. The platform is provided through Bank's Payment Aggregator (SBI e-Pay) and PaymentGateway (SBIPG) applications by integrating with thousands of Merchants at the one end andmany Payment Channels such as Banks Wallets and

Cards at the other end. SBIePay (Bank's Payment Aggregator Solution) isPCIDSS and ISO27001:2013 certified.

During the financial year SBIePay has added 343 new merchantsincluding prestigious merchants such as Central Power Research Institute Indian Instituteof Information Technology Nagpur Uttar Pradesh Metro Rail Corporation Ltd. KanpurMetro etc. As of 31-03-2022 1502 merchants were integrated with SBIePay.

Following significant developments were rolled out during the year:

• Added UPI QR code as a payment channel.

• Launched a Ticketing system for tracking and monitoringcomplaints.

• TXN initiation API for merchants to initiate Transaction viaserver-to-server call will avoid MITM attack.

SBIPG a PCIDSS certified application processes all card-basedtransactions of Payment Aggregators SB Collect SBI- MOPS and YONO. SBIPG added 10074sub-merchants during the financial year. As of 31-03-2022 68714 sub-merchants areintegrated with SBIPG.

Following significant developments were rolled out by SBIPG during theyear:

• BEPG Phase 2 with SI and EMI features for RUPAY Cards.

• SBIMF Integration with IPAY PG.

2. Payment System (PS)

Your Bank holds a significant share in N EFT remittances. Your Bank hasprocessed 130.17 crore transactions constituting over 17.93% of the market share. UnderRBI's Indo-Nepal Remittance scheme the limit for remittance to Nepal has been enhanced to'2.00 lakhs per Transaction.

Your Bank is a significant player in RTGS remittances and has processedmore than 5.36 crore transactions involving more than '297.87 lakh crore.

Your Bank holds a significant share in CTS Clearing with 14.92 croretransactions and 21.49% market share. Value-wise clearing transactions amount to '16.71lakh crore with a market share of 26.14 %.

Your Bank uses the SWIFT messaging system for cross border financialmessage transmission. Your Bank has processed 32.88 lakh financial messages. Your Bank hasfully complied with all the 22 mandatory controls and 9 advisory controls prescribed bythe SWIFT.

Your Bank is in the process of centralisation of NACH processing of allvariants of NACH.

3. Payment Solutions Debit Cards: Debit Cards: E-mandate on debit cardsfor recurring transactions was rolled out in October 2021 which allows the customers toauthorise your Bank to perform the same value transaction at a stipulated frequency intheir account during the mandate period. A new "Jandhan" debit card with acontactless feature has been rolled out.

Rupee Prepaid Cards: Your Bank provides Rupee denominated Prepaid Cardslike Gift Card e-Z Pay Cards Imprest Cards and Achiever Cards among others targetedfor various customers and business segments.

NAV-eCash Card: Your Bank has developed an innovative NAV-eCash prepaidcard with a dual-chip interface (EMV and offline chip) to facilitate both online andoffline transactions. The dualchip cards are also suited to organisations that need toundertake online and offline transactions depending on the availability of internetconnectivity.

State Bank Foreign Travel Card (SBFTC): SBFTC is an EMV chip and PINcompliant prepaid card in foreign currencies providing safety security and convenienceto outbound travellers (valid worldwide except in India Nepal and Bhutan). SBFTC isavailable as a Single currency and Multicurrency card. It is available in nine currencies- US Dollar British Pound Sterling Euro Canadian Dollar Australian Dollar JapaneseYen Saudi Arab Riyal Singapore Dollar and UAE Dirham.

SBI FASTag: Bank has issued more than 20 lakh SBI FASTag to corporateand retail customers. Toll transactions through the SBI FASTag have crossed a mark of 7.70crore and the total transaction amount has crossed the '1251 crore level in FY 2021-22.

Metro and Transit Projects: Your Bank has participated in various metroand transit projects to digitise micropayments rapidly. Your Bank has been awarded NagpurMetro Noida Metro and MMRDA Lines 2A and seven metro projects to implement qSPARCtechnology on the RuPay platform. Bank has issued 105000 prepaid cards in metroprojects. This year Bank has been awarded Chennai metro and Kanpur metro for CardIssuance Acquiring and AFC implementation/ integration.

Merchant Acquiring Business (MAB): In line with the Government ofIndia's efforts to promote a less cash economy your Bank has expanded its digitalfootprint across the country including aspirational areas such as Ladakh J&K andNorth east by deploying more than 24 lakh Merchant Acceptance Touch Points. It includes9.24 lakh PoS terminals 4.73 lakh Bharat QR code and 10.50 lakh merchants on BHIM-Aadhaar-SBI application downloads.

Your Bank has also had asset lite acceptance models like SoftPOS (YONOMerchant App) allowing merchants to self-onboard on the app to accept payments. Variousvalue-added services like DCC/EMI Pre- Approved Business Loan (PABL) are being focusedupon for customer convenience

Your Bank continued efforts to onboard merchants from premium segmentslike Oil Marketing Companies (OMCs) retail chains lifestyle stores and holiday resortsapart from consolidating the existing business. Your Bank has tied up with majorcorporations and government departments to migrate their operations from cash to digitalmode.

4. Branch Operations

Branch & CPC Redesign Department is continuously working forimprovement in customer experience at the Branch. Ensuring uniformity of branches inambience and customer service is a significant focus area. Many projects have beeninitiated to provide end to end digitization of products and services for customerdelight.

Image-Based Processing at Liability CPC & Video KYC Based AccountOpening: For opening new accounts in most customer categories (Individual &Non-individual) more quickly and efficiently image-based processing has been initiated inthe year 2021-22. For the convenience of customers to open an account from the comfort oftheir home or office a new account opening facility through Video KYC (Know YourCustomer) was launched on 22.04.2021. Around 6.40 lakh accounts were opened till March2022.

5. Foreign Office

YONO Global Mobile Application: In a quest to increase Digitalfootprints across the geographies your Bank has launched YONO Global keeping in mind theDigital Transformation and new Digital Banking Offerings for Retail Customers at SBI'sForeign Offices (FOs)/Subsidiaries. Your Bank has rolled out YONO Global mobile Banking insix more FOs this FY i.e. Canada Bahrain South Africa Bangladesh Sri Lanka andNepal taking the tally to 9 Countries.

Yono Global Web Portal: Your Bank has introduced Yono Web Portal(Internet Banking) for retail customers of foreign offices/subsidiaries. The new portalhas been made live for 6 foreign Offices viz. UK Mauritius Maldives Sri LankaBangladesh & US. Yono US Web portal for Corporate Customers has been rolled out forSBI New York & Chicago branches which has replaced the locally hosted ACI Worldwideapplication with enhanced customer experience.

Treasury Application Upgrade: During the year your Bank has upgradedthe Treasury application to its latest version and added a few new modules. The keybenefits of the upgrade available to all foreign offices are as follows:

• It supports derivative products such as currency options andfuture and equity trading.

• Stress Testing Module covering both Sensitivity and ScenarioAnalyser modules.

• Collateral Management Module.

• Generation of a dual set of reports as per Ind-AS and IndianGAAP and ability to comply with future Ind-AS requirements for accounting etc.

• Calculation of Modified Duration of perpetual bonds havingcall/put option.

• Generation of NOOP report on a realtime basis.

LIBOR to ARR/RFR Transition: Because of the evolvement of the globalecosystem with the Introduction of Alternate Reference Rates (ARR) to replace LIBOR yourBank took the initiative to implement the ARR regime (Over Night Reference Rate/ TermRates) in its Core Banking Treasury and Trade Finance operations at its Foreign Officesand Subsidiaries.

Your Bank has upgraded its Trade Finance Application for all ForeignOffices and Subsidiaries in line with the SWIFT upgrade for Bank Guarantee / SBLC relatedmessages.

6. ATM

Your Bank's ATM department is PCIDSS Compliant a benchmark securitystandard for the payment card industry. It stands tall serving 25.34 crore active debitcard users on 31st Mar' 2022. Following new facilities have been rolled outduring the fiscal year:

• TLS 1.2 implementation has been completed in all ATMs in recordtime to strengthen the security between ATMs & networks. MAC (Message AuthenticationCode) has been piloted successfully to enhance security between End Points (ATMs) andSwitch.

• As per RBI directions facility to customers to set limitseither on ATM or through IVR.

• Digitization of Payments (Offline mode) onboard INS-Vikramadityawarship.

• Green PIN for Prepaid Cards (both INR and FTC)- Pin generationrequests can be raised for all Prepaid cards from any delivery channels viz. PCMSCustomer Portal SBI ATM & Branches.

• Generation of Debit card PIN at Branch through CBS-SSO- Toassist in Generation of Green PIN through Branch for illiterate customers those who areunable to generate the same using other channels.

• Acceptance of Domestic Rupay Card for Electronic Transfer atSingapore POS devices.

• Dispatch status of a Debit card can be enquired through Bank'sIVR.

• Domestic Rupay cards can be accepted at Nepal ATMs/POS devices.

• Tap & Pay Transaction enabled on Jio Phone with tokenisedDebit Card.

• Green Pin facility is made available on Prepaid Cards for bothINR and FTC cards.

7. Internet Banking

Your Bank's Internet Banking provides a seamless online experienceoffering secure and diverse banking services to 977 lakh Retails Users and ~32 lakhCorporate Users.

Many new services were rolled out for Retail customers like theIntroduction of login OTP Positive Pay System - Registration Through Alternate ChannelsRelationship Managers details in INB for HNI Customers Remittance to NEPAL via RINBOnline PPF account opening Online PPF Extension Online Nomination for existing PPFAccounts Enhancing the International fund transfer FXOut Limit to eighteen lacs EnablingIMPS transactions for NRI customers in INB Digilocker Integration and Photo and Signatureupload for NPS Registration.

Many new services were rolled out for Corporate customers in CorporateInternet Banking and YONO Business. Some of them are:

(i) enhancement of SARAL transaction limit from 10 lakhs to 25 lakhs

(ii) online current account opening for all non-personal entities

(iii) SME Gold Loan lead generation

(iv) PABL-POS and Digital Local Short Credit facility for NTPC etc.


State Bank Multi-options Payment System will facilitate collectionthrough various modes using the site to site integration with e-commerce and othermerchant entities. Total active direct Merchants integrated through MOPS are 542.

Significant changes implemented are Merchant UI Revamp (MOPS Page)Sponsor Bank API eMandate; eMandate for repayment of EMIs and various integrations withGovt entities and eCommerce merchants.

SBI UNI PAY (BBPS: A one-stop solution for all bill payments) - YourBank has developed a SBI Unipay application for Bill payments through BBPS services hostedby NPCI which has gone live in July 2021. In the SBI Unipay platform your Bank providesthe facility of BBPS and Non- BBPS bill payments.

9. YONO Business

Your Bank's Yono Business offering for MSMEs Corporate and Governmentcustomers is designed to focus on three pillars of the digital transformation:

• One Bank One Platform building an omnichannel digital platformintegrating CMP Corporate INB e-Trade e-Forex and Supply Chain Finance under SingleSign-On.

• Digital bank offering seamless end-to- end digitised customerjourneys.

• New Age Banking to future proof the technology priorities suchas API banking.

It digitally serves various Banking interface requirements of all typesof non-individual entities right from a small proprietorship/ MSME to large multinationalcorporates to Central and State Governments.

Amongst other facilities and features for non-individual customers itprovides:

• Simplified and intuitive onboarding journey for new Digitalcustomers.

• The existing legacy documentation process has been replaced witha new omnibus process eliminating multiple visits to Branches. Digital onboarding for awalk-in customer through the YONO Business Branch interface.

• Additional Product offering for existing customers.

• Corporate user management as an end-to-end digital journey toCorporate Administrator for user management ensuring security and convenience.

• Intuitive Dashboard made available to Corporates with featuressuch as Consolidated real-time account positions of A&L Fund flow position alertsand notifications like LC due date and instalments due date amongst others.

• Reimagined import LC journey and Forex rate booking in less than15-20 minutes without the requirement to visit the branch

D. Mobile Banking

Your Bank's Mobile Banking department is the largest alternate channelin volumes. It handles various critical customer-facing mobile applications/Services likeUPI Yono Lite SBI Yono Business SBI Quick and SBI Secure OTP. The above apps enjoy anexcellent reputation among customers and are known for their ease of use and outstandinguser experience.

1. Unified Payments Interface (UPI): Unified Payments Interface (UPI)is one of the flagship applications of your Bank that powers multiple bank accounts into asingle mobile application with an Interoperable facility merging several bankingfeatures seamless fund routing and merchant payments by leveraging a single PaymentPlatform (i.e. UPI). During F.Y. 2021-22 on 31st March 2022 your Bank hasrecorded the successful processing of peak volume of UPI transactions approximate 150Million in a single day. This year the following vital facilities were introduced forcustomers through BHIM SBIPAY(UPI).

a. UPI Prepaid Voucher (PPV)


A DFS (GOI) initiative for Covid-19 vaccination was launched byHonorable PM on 02.08.2021. This functionality was also further extended to other schemes.

• SBI Credit Card application through SBI BHIM Pay for Androidusers.

• BHIM SBI Pay Merchant App: Independent App for onboardingmerchants on the UPI platform for Android users.

• Per NPCI guidelines per transaction limit enhancement with acap of '2 lakhs for a specific category of merchants.

• Unified Dispute & Issue Resolution (UDIR) for a reduction incustomer complaints and enhanced user experience.

b. Yono Lite:

Yono Lite has a total user base of 1.92 crore as of 31.03.2022.Following developments have been done in Yono

Lite mobile banking app during the year:

• Uploading statement to Digilocker.

• SIM Based registrations - To enhance customer security andprevent application misuse.

• If Remote Access applications are installed on a mobile devicedisallowing the Yono Lite app will obviate fraudsters' frauds.

• Biometric functionality enables the user to log in usingFingerprint (Android & iOS) and FaceID (iOS).

• Purchase of Google Play Recharge Codes - customers can use thesecodes for in-app purchases from Google Play Store.

• Purchase Gift Vouchers for online shopping.

c. SBI Quick:

SBI Quick has a total user base of 2.99 crore as of Mar 22. Followingdevelopments have been done in SBI

Quick mobile banking app.

• MOD Balance through SBI Quick.

• Bank Holiday Calendar for 2022.

E. Executive Support System

1. Customer Relationship Management (CRM)

Your Bank's CRM Solution helps build and maintain solid and loyalrelationships with existing and prospective customers.

CRM Solution has customised Lead modules for all Business Units andother critical departments integrated with other sources such as OCAS YONO LOS LLMSBank's website etc. It also has a sophisticated and advanced Module i.e. CRM-CMSwherein customers' entire trail of previous complaints and other details are captured inthe application giving ease to users and customers for complaint lodgement tracking andresolution.

• The platform has been made available over Bank registered mobiledevices securely to enable Bank employees to perform certain services anywhere. A fewcustomer-centric projects initiated during the year were;

• Enrichment of Customer 360 for one view of Retail as well asCorporate Customers/ product recommendations and CRM Leads through Analytics based outputs

• Creation of complaint management functionality for the handlingof YONO Interbank and YONO Cash unauthorised transactions in CRM- CMS

• Revamping of complaint module in CRM-CMS for routing andautoescalation to Internal Ombudsman

• Redesigning of IVR and Agent journeys in consultation withContact Centre/ their vendors

• Functionality for assignment of OCAS Housing Loan leads to SSLfor specified centres (Mumbai Metro & Bengaluru circles)

• SME Lead generation through SMS/ Missed call channel (Ease 3.0)

• Sourcing of leads in CRM online through portals of someautomobile manufacturers

2. Data Warehouse

To align with Bank's vision a state-of-the- art Data Architecture"Next-Gen Data Warehouse" is under implementation facilitating ever-increasingbusiness data demands and regulatory reporting with a focus on Data Quality and DataIntegrity. This architecture will enable Value Creation (both top line and bottom line)for the Bank through Advanced-Data Analytics while adhering to Governance Security andCompliance.

3. Data Governance

Being a data-driven Organisation your Bank has taken various steps forefficient management of Data with close partnership of Business and IT stakeholders. Thealready established top-driven Data Governance framework which is institutionalised up tothe operating level is being leveraged to drive all the Data Governance initiatives toensure that the Data Asset of the Bank is future ready to support the Bank in its digitaltransformation while complying with Regulatory guidelines. To further percolate themessage of "Data Trust" and for promoting Data Literacy across the Organisationyour Bank is conducting many activities among which is the celebration of "DataGovernance Day" on 1st June every year.

4. Analytics

Your Bank has built a solid and pioneering competency in Analytics AIand ML. It utilises these next-gen technologies to reimagine Customer Service MarketingRisk Mitigation and Strategy. Some highlights of FY'22 in this area are:

Digital Lending: Two new End-to-End Digital Loan Journeys wereintroduced viz. Pre-approved Two-Wheeler Loan (SBI Easyride) and Pre-approved BusinessLoan (PABL) for PoS customers of our subsidiary SBI PSPL. Loans worth ~ '21935 Cr.sanctioned digitally through Analytics-based products in FY2022.

Risk Mitigation: Tool to identify Related Party Transactions were builtto detect diversion of funds. Single Officer Branch Monitoring Solution rolled out inpilot mode to alert when anomalies arise.

Operational efficiency: Cost-to-Income Ratio tool was launched toprescribe branch-level changes in product mix and expenditures to maximise profits. EarlyWarning System (EWS) model was integrated with Contact Centre to facilitate Outbound Callsto reduce stress in loan accounts.

Responsible AI: Adopted a robust Data and Model Governance Framework inline with global standards to ensure readiness for upcoming laws/regulations. FairnessEthics Accountability & Transparency (FEAT) document and Explainable AI were adoptedto ensure ethical model building.

Technology Related: Your Bank adopted next-gen capabilities such asDeep Learning Cloud-Based Services Prescriptive Analytics and Real-Time Analytics inline with the board-ratified "Roadmap for Analytics." The pioneering ProjectShikhar Model combining risk activation and spend analysis into a single holistic modelwas adopted resulting in issuance of four million cards by your Bank's subsidiary SBICards under this programme.

Accolades Received:

• Achieved a "High Maturity" Score in the global"ITScore for Data & Analytics" Assessment of Gartner

• Awarded the "South Asia Award for Project Management"by PMI for its Credit Card Cross-sell Model

• IDC Industry Innovation Award: Data Intelligence Award forPre-approved Business Loan Product

• IDC Industry Innovation Award: Green Tech/Sustainability Awardfor Footfall Rationalization Model

F. Core and Special Projects

The significant developments rolled out in the current financial yearin the area of customer service during FY 2021-22 are as under: Hindi Printing:Development has been rolled out to enable the Printing of Passbooks Statement of accountsetc. in Hindi language as per the customers' requirements.

Improvement in SMS delivery: A facility for SMS alerts in 13 languageshas been enabled. Customers may now register for SMS alerts in their preferred languageviz. Assamese English Bengali Gujarati Hindi Kannada Maithali Marathi MalayalamPunjabi Tamil Telugu Odia. Following initiatives have been taken to address delays inSMS delivery.

• Multi-streaming of SMS outflow from CBS to Delivery Platform.

• Infrastructure upgraded for handling a higher volume of SMS.

• SMS generation and transmission processes in CBS were modifiedto handle higher volumes.

1. Special Projects

Your Bank has initiated several special projects to ensure customerconvenience. A few of them are mentioned below CKYC for Non-Individual CIFs and CKYC forFI-Legacy CIFs: Now all types of CIFs viz. Individual Non-individual and FI have beencovered under CKYC. Given the increased volume of digitisation one more alternativescanning solution (in addition to Signzy) CKYC Document Classification and Upload (CDCU)an improved AI- based scanning solution was launched on 03.08.2021.

PENSION: Functionality of Video Life Certificate launched on01.11.2021 to facilitate pensioners in submitting Life Certificate through Video Callingfrom their home.

Functionality for uploading Family pension- related documents throughthe Pension application has been made available on 10.12.2021. Now a family pensioner canapproach any branch to submit documents.

TRS: Your Bank provides Form16 through RINB & TRS (TaxCPC) Portals.In Dec 2021 Bank successfully integrated with the Digilocker App of the Government ofIndia for delivering Form16 through the App wherein Form 16 can be pulled in the‘Issued Document' section of Digilocker.

GBSS - TIN(Tax Information Network) 2.0- Replacement for OLTAS: NewModule is rolled out in GBSS Application for Direct Tax Collection having real-timeintegration with TIN2.0 & PFMS and RBI for Settlement & Reporting.

GBSS - New FSLO Commission module for state government transactioncommission settlement: GBSS -FSLO module has been rolled out which will facilitate majorhead-wise submission of returns to RBI for a claim of commission for multiple StateGovernment modules in the GBSS application.

SBI FASTag -recharge through PhonePe: Integration of the FASTagapplication with Bill Desk for recharge through Phone Pe has been completed. Phone PeCustomers can now recharge their SBI FASTags directly from the application by enteringtheir vehicle number in the FASTag recharge option.

Easycollect: Easy collect application integration with Edelweiss TokioLife Insurance Co. Ltd has been rolled out. Edelweiss Tokio policyholders can now remitrenewal premium through any of the SBI branches by making use of the Easycollectapplication GCC - Development of Application for new GCC terminal "Move 2500":

• GCC application has been modified for bringing compatibilitywith newly introduced GCC terminal devices "Move 2500" and existing devices.

• Two Audit Variants of IAD viz. Home Office Audit and ConcurrentAudit System for Foreign Offices are automated.

• HOA: The FOA Department at IAD conducted the Audit of ForeignOffices (of the Bank) on 6th July 2021.

• CASFO: A "Web-Based Solution for Concurrent Audit forForeign Offices" was rolled out on 28th July 2021.

2. IT- Corporate and SME Loans

Your Bank has developed an in-house application to capture the entirejourney of Corporate and SME Loans through the Loan Life Cycle Management System (LLMS).The entire life cycle of the credit process is automated leading to standardisation ofthe credit process enhanced risk management and improved user experience and TAT. DuringFY2022 the following significant new offerings were initiated under the LLMS:

Integration with National Portal: LLMS has been integrated withNational Portal where leads for Credit Linked Government Schemes flow from NationalPortal to LLMS. National Portal gives In-principle approval of "GO" based on thescheme- specific Rule Engine Parameters set by respective banks on the National Portal. Itimproves TAT for government-sponsored schemes and enhances transparency.

Integration with Contactless Lending Platform: LLMS has been integratedwith the Contactless Lending Platform (CLP) where SME customers apply through the CLPwebsite and qualified leads are forwarded to LLMS. It saves time and ensures a shorterTAT leading to better customer fulfilment.

3. IT Retail Loans (RL)

IT Retail Loans caters end-to-end credit processes i.e. Pre-Sanctionand postsanction processes through seven applications i.e. LOS (PB) RLMS (Retail LoanManagement System) LOS (Agri) OCAS (Online Customer Acquisition System) RAAS (RetailAsset Acquisition System) OPAS (Online Project Approval System) and LAMS (Loan AccountManagement System).

Major rollouts in FY2021-22:

• Image-Based Processing for Home Loan Journey which is uniformfor BPR & Non-BPR Branches

• SBI KAVACH Personal Loan to Covid patients for treatment.

• Top Up Gold Loan for existing gold Loan borrowers on securityvalue.

• Real-Time Xpress Credit an online loan approval through theYONO platform.

• Xpress Credit for Covid Warriors at concessional pricing.

• Integration with National Hunter for Auto Loans and EducationLoans. It helps fraud checking from the existing database of Hunter.

• Integration with National Portal for subsidy processing of HomeLoan and Education Loan

• Integration with CERSAI for online registration of immovablesecurity.

Loan Account Management System (LAMS): New application for loancollection was launched in April 2021 where tele-callers and Bank officials record thefollow-up calls to delinquent account holders. During the current year all bank staffContact Centre and CSPs have recorded 25489155 follow ups in the application.

4. Customer Service

Your Bank has a robust online Complaint Management System (CMS) wherecustomers can lodge their complaints feedback and suggestions online through Bank'swebsite In addition to this Contact Centres operate 24*7*365/366 indifferent geographical areas servicing Bank's customers in Hindi English and ten majorregional languages.

To improve the quality of resolution of customer grievances your Bankhas established Circle Complaints Resolution Centres (CCRC) in all Circles. Your Bank hasalso established Circle Call Centres manned by its staff for handling any issue beyond thepurview of Bank's regular Contact Centres to ensure a better customer experience. Properand timely resolution of customer grievances is your Bank's high focus area. It isconducting a Root Cause Analysis of major areas of complaint and is utilising the findingsfor product and process improvement. It has also conducted a Customer Satisfaction Surveyand a Depositor Satisfaction Survey and is working towards enhancing the customerexperience based on the findings. Countrywide E-Town hall meetings at 523 centres wereconducted to connect with customers and feedback was collected from the customers onproducts and processes.

To enhance the level of knowledge of the frontline staff and enhancecustomer experience your Bank has introduced a mass knowledge enhancement programme"Project Utkarsh" for its employees during the year. It has also introduced the"Customer Service Index" for categorizing branches on the basis of the level ofcustomer service which serves as a motivational factor for branches.

Your Bank is in the process of leveraging the CRM Tool to use analyticsand artificial intelligence. SBI believes that these digital tools and technology cancompletely transform the customer experience in the days to come. It has onboarded twoeasy to remember 8-digit Contact Centre Toll- Free numbers (18001234 and 18002100) forease of customers. It has also introduced a simplified IVR Menu (5*5) for seamlessintuitive navigation to enhance customer experience. Your Bank has introduced six moreRegistered Mobile Number based services (on a pilot basis in two telecom Circles) from theContact Centre (a total of 11 services) which have helped the clientele in these testingtimes.

Your Bank is also driving the PSB Doorstep Banking services whichprovide ease of banking to customers. They can avail of several doorstep services such asAccount Statements Cash withdrawal facility and Life Certificate submission amongothers through the DSB Services.

G. Financial Inclusion and

Government Schemes (FI&GS)

During the COVID-19 period the Kiosk Banking Channel played a veryimportant role in disbursement of government subsidies when movement to bank branches wasrestricted. Under the 9th and 10th Instalment of PM Kisan SammanNidhi SBI processed 2.45 crore and 2.50 crore transactions respectively as DestinationBank in a single day on 09/08/2021 01/01/2022.

To enhance customer convenience and customer delight the following newfacilities were introduced during the FY 2021-2022:

• Cheque Book request and Stop Cheque request at CSP outlet:Facility to request for issuance of new cheque book and stop cheque request has beenenabled at CSP outlet.

• ATM Card Blocking at CSP outlet: The facility of ATM cardblocking at the CSP outlet has been enabled giving customers one more avenue for ATM cardblocking.

GOI Social Security Schemes related initiatives: Following initiativesfor increasing coverage under social security schemes of GOI were rolled out:

• Revised Enrolment Forms to capture additional information aboutcustomers and nominees at CSP outlets.

• Development of a floater screen in the Kiosk channel to promptuncovered customers to get PMJJBY and PMSBY cover thus increasing coverage.

• SMS intimation to uncovered DBT/ DBTL Beneficiaries for gettingenrolled in PMJJBY/PMSBY/APY

Voice Prompt has been enabled in Kannada Oriya Gujarati MarathiBangla and Malayalam in addition to Hindi English Tamil and Telegu while performingtransactions at CSP outlets. It acts as a risk mitigant for illiterate/semi-literatecustomers as they can hear the details of the transactions being performed in theiraccounts.

H. Trade Finance (TF)

Your Bank caters to our customers' e2e Trade Finance requirements -both Inland & Cross Border.

Eximbills Enterprise (EE): EE is the centralised technology platformfacilitating Trade Finance transactions with average daily transactions ranging 15000 -16000.

EDPMS/IDPMS reconciliation percentages are 96.88 and 95.41 by the endof FY2022 respectively which is the best ever achieved.

Customer Enterprise (CE/ e-Trade):

SBI e-Trade also known as Customer Enterprise (CE) is a uniquedigital platform. It is a One-Stop centralised application seamlessly integrated withEximbills Enterprise and Core Banking System to satisfy the needs of corporate customersfor their Domestic Trade Finance & International Trade Finance.

Centralised SWIFT Interface Gateway (CSIG): CSIG is a centralisedmessaging system for cross border transactions over the SWIFT network. It is an integratedweb- enabled messaging software that runs centrally and is accessed by the interfacechannels and branches facilitating the electronic exchange of financial and nonfinancialmessages

Fintra TFS (Trade Finance Solution)

Project: As part of the digitalisation and redesigning of trade financeprocesses your Bank is centralising the processing of Trade Finance in two GTFCs (GlobalTrade Finance Centres) at Kolkata and Hyderabad. The project was pilot launched inNovember 2021 with the Inland LC module and is expected to be completed by FY 2022-23.

Three-way Reconciliation Utility for SWIFT Transactions (TRUST): Thisapplication acts as an outward SWIFT message aggregator and reconciliation system havingappropriate control frameworks. It does a post-transaction check to ensure that underlyingaccounting entries exist in the Bank's books of accounts for all outward SWIFT messagessent. It also facilitates the daily independent Concurrent Audit for checking if the SWIFTmessages generated from the source applications are reconciled 100% for all financial andnon-financial messages.

3. Risk management

A. Risk Management Overview

Risk Management at your Bank includes risk identification riskassessment risk measurement and risk mitigation with its main objective being tominimise the negative impact on profitability and capital.

Your Bank is exposed to various risks that are an inherent part of anybanking business. The major risks are Credit Risk Market Risk Liquidity Risk andOperational Risk including IT Risk.

An independent Risk Governance Structure in line with internationalbest practices was put in place in the context of separation of duties and ensuring theindependence of risk measurement monitoring and control functions. The various risksacross your Bank and the SBI Group are monitored and reviewed through the Executive LevelCommittees and the Risk Management Committee of the Board (RMCB) which meets regularly.Risk Management Committees at the operational and business unit levels are also in place.

1. Credit Risk Mitigation Measures:

Your Bank has put in place robust credit appraisal and risk managementframeworks for identifying measuring monitoring and controlling the risks in creditexposures. The industrial environment is scanned researched and analysed in a structuredmanner by a dedicated team to decide its outlook Credit Rating threshold based on outlookand probability of default for industry and growth appetite for 38 identified industriesand sectors which constitute close to 73% of your Bank's total advances (excluding retailand agriculture). Events such as a change in Government policies or regulatory guidelinespower shortage and supply chain issues in these industries are monitored continuouslyand special studies for its implications are conducted which are shared with the businessgroups to enable them to make informed credit decisions. Considering the increasingclimate change risk impact analysis on emission-intensive industries such as powerhydrocarbon iron and steel construction automobile and coal is conducted to align yourBank's lending strategy towards low-carbon sectors. Furthermore knowledge sharingsessions are conducted to benefit the operating staff at various levels. Additionally amonthly and quarterly dashboards covering the top 15 industries are provided to businessunits detailing the developments in these critical industries and sectors to keep themupdated on the latest information/ developments.

Your Bank has an industry concentration Limit Framework to ensureagainst concentration risk monitored quarterly. The framework has been made more robustto capture business opportunities arising from Government initiatives like PerformanceLinked Incentive (PLI) schemes and negative developments including Environment Socialand Governance (ESG) Risk.

Your Bank uses various Internal Credit Risk Assessment Models andScorecards for assessing borrower-wise Credit Risk. Models for internal credit ratings ofthe borrowers were developed in-house. They are reviewed through cycles of comprehensivevalidation and backtesting frameworks including external validation/ review. Consideringthe ESG risk Bank has put in place an Environment Social and Governance (ESG) ratingmodel which rates large borrowers on various objective ESG criteria.

Your Bank also has a ‘Dynamic Review of Internal Rating'Framework which facilitates early identification of stress and triggers the appropriatemitigation mechanisms.

Your Bank has a framework for Risk- Adjusted Return on Capital (RAROC)and the Customer level RAROC calculation has also been digitised.

Further behavioural models for monitoring and scoring retail borrowerperformance have been developed and hosted on credit risk data mart.

Your Bank conducts stress tests every half-year on its CreditPortfolio. Stress scenarios are regularly updated in line with RBI guidelines industrybest practices and changes in macro-economic variables.

RBI has allowed your Bank to participate in the parallel run processfor Foundation Internal Ratings Based (FIRB) under the advanced approaches for creditrisk. The data under a similar run of FIRB is being submitted to RBI. Models forestimation of Probability of Default (PD) Loss Given Default (LGD) and Exposure atDefault

(EAD) are hosted in a credit risk data mart for computation of IRBcapital.

The Bank carries out a Risk-Return Analysis of critical portfolios atperiodical intervals to assess the adequacy of return vis-a-vis the risk associated withthe exposures. The Bank has also initiated measures for objective and sustained assessmentof evolving risk of corporate exposures. In this regard Bank has devised a framework forIntegrating a Dynamic Review of Internal Rating with Early Warning Signal Triggers and hascompleted the IT implementation of the framework. The framework is presently beingexperimented with real-life scenarios and the Bank proposes a full- fledged roll-out inFY2023.

2. Market Risk Mitigation Measures

Your Bank's Market Risk Management identifies and measures riskscontrol measures monitoring and reporting systems. Market Risk is managed through awell-defined Board-approved Investment Policy Trading Policy and Market Risk ManagementPolicy and Market Risk Limit Policy that caps risk in different trading desks or varioussecurities through trading risk limits/triggers for effective and judicious management ofinvestment funds. These risk measures include Position Limits Gap Limits tenorrestrictions and sensitivity limits namely PV01 Modified Duration Value-at-Risk (VaR)Limit Stop Loss Trigger Level NOOP Forex Daylight Limit LMAT UMAT and Options Greeksare monitored on an end-of-day basis.

Value at Risk (VaR) is a tool used for monitoring risk in the Bank'sTrading Portfolio. The Enterprise-level VaR of your Bank is calculated and backtesteddaily. The stressed VAR for Market Risk is also computed daily. This is supplemented by aBoard-approved Stress Testing Policy and framework that simulates various Market Riskscenarios to measure stress losses and initiate remedial measures.

The Market Risk Capital Charge of your Bank is computed using theStandardised Measurement Method (SMM) applying the regulatory factors.

Your Bank undertakes risk-adjusted performance analysis of its domesticand overseas portfolios. It also analyses the credit rating migration of non-SLR bonds asa tool for decision making.

Your Bank has initiated suitable measures to ensure a smooth transitionfrom LIBOR to Alternate Reference Rate (ARR). The relevant IT changes tools for valuationof models like RICS and curves for the pricing for the newly introduced AlternateReference Rates (ARR) have been incorporated into the system.

The newly introduced Bilateral Netting guidelines have beenincorporated into Bank's operating guidelines. Going forward this may reduce the counterparty exposure amount and capital requirement for Counter party Credit Risk for the Bank.

Your Bank has a Model Risk Management Framework that enables Bank toassess measure monitor and mitigate Model Risk.

3. Enterprise Risk

Mitigation Measures

Enterprise Risk Management aims to put a comprehensive framework tomanage and align risk with strategy at the whole Bank level. It encompasses global bestpractices such as establishing a Risk Appetite Framework Risk Culture AssessmentFramework and Material Risk Assessment.

As part of your Bank's vision to transform the role of risk into astrategic function a Board-approved Enterprise Risk Management (ERM) Policy is in place.

The Risk Appetite Framework incorporates limits for significant riskswith monitoring parameters. To promote a strong risk culture in your Bank a Risk CultureAssessment Framework is being operationalised in a phased manner. As part of the MaterialRisk Assessment Framework periodic analysis of risk- based parameters for Credit RiskMarket Risk Operational Risk and Liquidity Risk amongst others is presented to theEnterprise and Group Risk Management Committee (EGRMC) / Executive Committee of theCentral Board (ECCB).

Your Bank conducts a comprehensive Internal Capital Adequacy AssessmentProcess (ICAAP) exercise on a yearly basis with respect to adequacy of Capital undernormal and stressed conditions at solo and group level.

In the ICAAP besides the Pillar 1 risks such as Credit Risk MarketRisk and Operational Risk Pillar 2 Risks such as Liquidity Risk Interest Rate Risk inBanking Book (IRRBB) Concentration Risk and others are also assessed and capital isprovided where required. New and emerging risks are identified and discussed in the ICAAP.

Your Bank is committed to reducing the carbon footprint of itsoperations. Accordingly the Bank has developed Climate Change Risk Management Policywhich will serve as a guidepost in supporting its journey towards a low carbon andclimate-resilient future.

Your Bank is committed to addressing climate change concerns byidentifying and managing climate-related risks and opportunities. The policy aims tointegrate climate-related risk (and opportunity) considerations within day-to-dayoperations lending portfolios and overall decision-making.

4. Group Risk Mitigation Measures:

Group Risk Management aims to establish standardised risk managementprocesses in group entities. Policies relating to Group Risk Management Group Liquidityand Contingency Funding Plan (CFP) maintaining arm's length requirements for intra grouptransactions and exposures are in place. Regular monitoring of the consolidated prudentialexposures and group risk components is implemented. All group entities where SBI has 20%or more stake and management control including non-banking entities carry out the ICAAPexercise. A Group ICAAP Policy is in place to ensure uniformity.

5. Basel Implementation:

The RBI guidelines on Basel III capital regulations have beenimplemented. Your Bank is adequately capitalised as per current requirements includingmaintaining the required level of Capital Conservation Buffer (CCB). Your Bank isidentified as D-SIB by the regulator and it is necessary to keep additional Common EquityTier 1 (CET1) of 0.60% of RWAs from 1st April 2019.

B. Internal Control

Internal Audit (IA) in your Bank is an independent activity and hassufficient standing and authority within your Bank. The IA Department headed by a DeputyManaging Director works under the guidance and supervision of the Audit Committee of theBoard. Your Bank's IA function works in close coordination with the Risk Management andCompliance Department to evaluate the effectiveness of controls and assess compliancewith controls and adherence to internal processes and procedures. The IA functionundertakes a comprehensive risk-based audit of the operating units of your Bank in linewith regulatory guidelines relating to Risk-Based Supervision.

Keeping pace with rapid digitalisation in your Bank the IA functionhas initiated technological interventions for providing enhanced efficiency andeffectiveness through system driven and analytics- based audits.

Few key initiatives include the following:

• Web-based online Risk Focused Internal Audit (RFIA) forassessing compliance with controls at a granular level

• Analytics-based continuous assessment of compliable controlsthrough remote evaluation of enormous data

• System-driven analytics-based offsite monitoring oftransactions

• Concurrent Audit of business units to ensure contemporaneousscrutiny of compliances

• Early review of sanctions to assess the quality of loans of '1crore and above

• Online self-audit by branches for selfassessment by branches andvetting by controllers

As part of RFIA IA Department conducts various audits viz. CreditAudit Information Systems Audit Cyber Security Audit Home Office Audit (Audit offoreign offices) Concurrent Audit FEMA Audit Audit of Outsourced Activities of yourBank Expenditure Audit and Compliance Audit.

Your Bank has created a new department viz. "Corporate CentreAudit (CCA) Department" at Internal Audit Department (IAD) w.e.f. 01.04.2019 tostrengthen the overview of the Audit of its aggregate risk assessment processes. Inaddition it undertakes various audits such as Thematic Audit Validation Audit VeracityCheck in compliance of the RBI Directions & Regulatory guidelines and otherrequirements emanating from various Business Units and departments at Corporate Centre.The CCA Department is also engaged in the validation of RBI-Tranche-III-DCTs (DataCollection Tranches) Risk Assessment Report (RAR) and Risk Mitigation Plan (RMP)observations.

Branch Audit: The IA Department undertakes a comprehensive risk-basedaudit of the operating units of your Bank in line with regulatory guidelines relating toRisk-Based Supervision. The domestic branches are broadly segregated into four groups(Group I Special Group I Group II and Group III) based on business profile and advancesexposures. Your Bank has initiated a system driven process for identifying branches forAudit whereby analytical algorithms are deployed to identify units displayingsignificantly different behavioural patterns. This enables your Bank to step in with aprioritised audit to identify the causative factors at these outlier branches and flag theunderlying problem areas for early intervention. During FY2022 the IA Department hascompleted RFIA of 10614 units of Domestic Branches & Central Processing Centres(CPCs) as of 31st March 2022. Further Evidence- Based Compliance Testing(EBCT) was completed in 3260 branches identified under Trigger Based Audit (TBA).

Credit Audit: Credit Audit is an integral part of the ‘RiskFocused Internal Audit' system. It aims to identify risks inherent to the businesses ofthe counterparty and measure the effectiveness of the control systems for monitoringinherent risks. It also suggests remedial measures for controlling credit risks for thehigh- value loan portfolios. ‘Credit Audit Division' (CAD) provides assurance to the‘Management' and the ‘Board' on the quality of the Bank's credit portfolio. Itrecommends corrective actions for improving credit quality administration and skills forthe staff handling large advances with exposures of above '20 crores annually.

Early Review of Sanction: A review of all eligible sanctioned proposalswith total domestic credit exposure of above '1 crore (exposure of US$ 1 mio & abovefor IBG) is carried out under ‘Early Review of Sanctions' (ERS). ERS captures thecritical risks in sanctioned proposals at an early stage and apprises the Business Unitsof such critical risks for mitigation thereof. ERS facilitates in improving the quality ofsourcing pre-sanction and sanction processes. ERS activity is centralised and proposalsare reviewed by in-house officers/Chartered Accountants. The entire ERS process is systemdriven and done through the Loan Lifecycle Management Solution (LLMS).

FEMA Audit: The branches that are authorised to deal (AuthorisedDealers) in Foreign Currency transactions including Trade Finance Centralised ProcessingCells - TFCPCs are subjected to FEMA audit. All branches in CAG/CCG/TFCPCs and"A" & "B" category branches not linked to TFCPCs are audited oncea year. Around 20% of branches linked to TFCPC are also audited along with the linked

TFCPC depending on the risk perception volume of Forex operations ofthe linked branches. 452 such branches and units were subjected to FEMA Audit as of 31stMarch 2022.

Information Systems Audit Cyber Security Audit Information SystemsConcurrent Audit and Audit of IT Outsourced Activities: Your Bank's branches are subjectedto Information System audits ("IS Audits") to assess the IT-related risks aspart of the RFIA of the branch(es). IS Audit of Centralised IT / Corporate Centreestablishments is also carried out by a team of qualified officials including IS auditorsappointed through lateral recruitment.

During the FY2022 the following exercises were carried out up to 31stMarch 2022:

• Information Systems Audit of 116 Auditee Units

• Cyber Security Audit has been conducted in Q4 for FY2022 as perthe Cyber Security Policy of your Bank.

• Information Systems Concurrent Audit of 23 GITC Departments ofyour Bank every month.

• Audit of 419 IT Outsourced Activities.

Foreign Offices Audit: Foreign Offices are subjected to Home OfficeAudit in addition to Internal Audit conducted locally at the respective centres by reputedInternal Audit Firms and Local Based Officers under the oversight of the Internal AuditDepartment. Home Office Audit due at 34 Foreign Offices and Management Audit due at 4Representative Offices 5 Subsidiaries and 5 Regional / Country Head Offices during FY2021-22 are deferred to FY 2022-23 due to restrictions imposed on account of COVID-19pandemic. However these offices were subjected to Internal Audit by reputed InternalAudit Firms as per approved periodicity.

Concurrent Audit System (CAS):

Concurrent Audit System in your Bank covers advances and other riskexposures as prescribed by the Regulatory Authority. Branches are categorised as ExtremelyHigh Risk; Very High Risk; High Risk; Medium Risk; and Low Risk based on the RiskCategorisation model developed by the Bank according to the instructions from RBI. AllExtremely High Risk Very High Risk and High-Risk branches are covered under ConcurrentAudit. Concurrent Auditors are also placed at all Centralised Processing Centres to ensuremonitoring of transactions contemporaneous with their occurrence. Concurrent Auditors alsocover Currency Chest Branches Treasury Operations and other Special Outfits. Your Bankhas covered 3137 Branches / Auditee Units under Concurrent Audit during FY 202122 as of31st March 2022 by deploying 1814 Chartered Accountant Firms 467 Retiredexperienced Bank Officers and 28 Regular Officers.

Offsite Transaction Monitoring System (OTMS): For the purpose ofmonitoring the transactions offsite alerts are generated and flagged to the businessunits for corrective actions. Presently there are 61 scenarios embedded in the systemagainst which the transactions are scrubbed at regular intervals wherein inconsistenttransactions are flagged by the system for affirmation of the related compliances. Thescenarios are periodically reviewed and enlarged depending upon the need and specifictriggers.

Legal Audit: Legal Audit in your Bank covers scrutiny of the loans andsecurity- related documents of loans amounting to '5 crore and above. The legal Audit is acontrol function carried out through a panel of advocates and 10% of such accounts areexamined by the internal auditors on a sample basis to ensure that there are noshortcomings in the documents or creation of security in favour of your Bank. The legalAudit Process was automated in Loan Life Cycle Management System (LLMS) w.e.f. 01.07.2021.As of 31st March 2022 a Legal audit was carried out for 14907 accounts.

Audit of Non-IT Outsourced Activities:

Your Bank recognises the need of service providers engaged by your Bankto be as compliant with the legal and regulatory requirements as your Bank itself.Therefore the Audit of Outsourced activities is conducted at regular intervals to assurethat adequate systems and procedures are in place to mitigate legal financial andreputational risks arising from the outsourced activities.

Audit of outsourced activities in your Bank covers audits of vendors(NonIT) engaged in providing ATM services Corporate Business Correspondents (BC)Individual Business Correspondents (BCs) and Customer Service Points (CSPs) Recovery andResolution agents Cash Management Services Cheque Book Printing Collateral ManagementMarketing of Loan proposals Registrar and Transfer Agents Document Archival Centre andCash Efficiency Project amongst others. During FY2022 your Bank has completed the Auditof 36196 CSPs as per the audit plan for FY2022. With respect to other outsourcedactivities (other than CSPs) audit of 639 vendors has been completed as of 31stMarch 2022.

RFIA of Corporate Centre Departments:

CC Audit Department assesses the aggregate risk and maintains oversightof risk residing at the macro level. The risk assessment covers inherent risks controlrisks residual risks and gaps in governance and oversight. It also assesses the degree ofcompliance with regulatory and statutory requirements. Audit reports provide a fair andreasonable assurance to the Top Management and Board on the direction and trend ofaggregate risk in your Bank.

Management Audit: The core function of Management Audit is to assessthe effectiveness of control and governance process at the apex level in accomplishingoverall corporate objectives. Management Audit covers Circle's Local Head OfficesRegional Rural Banks sponsored by your Bank and select Corporate Centre departments. Inits endeavour to enhance the effectiveness of Management Audit in the current financialyear 2021-22 your Bank has reviewed the audit process by redefining rating methodologiesrisk weightages and parameters used for Management Audit.

C. Compliance Risk Management

Regulatory and Statutory compliances are being accorded the highestpriority. Your Bank has over the years developed necessary tools to track compliancerisks and ensure timely remediation. Compliance Policy and Group Compliance Policy arereviewed annually to meet the Regulators' expectations.

Compliance Risk Management Committee comprising Senior Executives frombusiness verticals and support functions maintains oversight on all compliance- relatedissues. The Committee meets regularly and extends necessary guidance to all the internalstakeholders to ensure regulatory compliance. The Compliance function also reviews allproducts and policies to ensure adherence to Regulatory guidelines.

To take the compliance culture up to the grassroots level regularworkshops and interactions are held across the Bank. Compliance testing is alsobroad-based by involving Regional Offices pan India for their assessment and timelyremediation of risks arising out of non-compliance.

To exhibit its zero-tolerance to noncompliance your Bank hasintroduced metrics to check the compliance level at branches to monitor and counsel thenon-compliant branches and reward the compliant ones. Bank has also initiated steps tomeet the regulatory expectations on Data Protection.

D. KYC / AML-CFT Measures

Your Bank has been taking comprehensive steps to implement KYC norms/guidelines across the Bank. Bank has a Board approved Policy on Know Your Customer (KYC)Standards Anti-Money Laundering (AML) and Combating of Financing of Terrorism (CFT)Measures in line with the extant RBI Master Direction on KYC.

The Policy incorporates Bank's approach to KYC AML and CFT issues. ThePolicy contains your Bank's framework for Customer Acceptance Risk Management CustomerIdentification and Monitoring of Transactions. Bank has taken steps to implement thePrevention of MoneyLaundering Act 2002 and the Prevention of Money-Laundering(Maintenance of Records) Rules 2005 as amended from time to time.

Your Bank has been carrying out the ‘Money Laundering (ML) andTerrorist Financing (TF) Risk Assessment' exercise periodically to identify assess andtake adequate measures to mitigate its money laundering and terrorist financing risk forclients countries or geographic areas products services transactions or deliverychannels etc.

Your Bank has put in place a robust system containing a combination ofmanual and system enabled methodology to ensure KYC compliance. No account is opened in ananonymous or fictitious/benami name or where the Branch/Business unit cannot applyappropriate Customer Due Diligence (CDD) measures. Bank does not open accounts fortransacting in or settling transactions of virtual currencies. However while implementingthe Policy Bank takes care that it does not result in denial of banking services to thosefinancially or socially disadvantaged.

Your Bank has launched a Video KYC facility to facilitate contactlesscustomer onboarding. New customers can open fully functional accounts using this processwithout visiting any Branch.

AML CFT Deptt of the Bank ensures ongoing due diligence throughtransaction monitoring. Bank follows a risk-based approach wherein Customers arecategorized as low medium and high risk based on the assessment and risk perception. Banktakes care of filing obligatory reports to Financial Intelligence Unit- India (FIU-IND).Timely notifications are also filed on priority in cases of accounts suspected of havingterrorist links.

Your Bank conducts special Audits on KYC to ensure compliance with KYC/AML/CFT matters.

Several initiatives are put in place to bring greater awareness amongstthe staff. Training personnel in KYC/AML/ CFT areas is an ongoing process in our Bank.Employee training programmes are regularly conducted to adequately train staff inKYC/AML/CFT matters.

AML-CFT Day is being observed on 2nd November every yearwherein pledge is taken on that day at all branches/ processing centres and AdministrativeOffices. Similarly 1st August is observed as KYC Compliance and FraudPrevention Day.

E. Insurance

Your Bank is procuring insurance policies covering your Bank's assetsand other risks. Insurance coverage includes cash and valuables Properties of the BankFraudulent transactions under Debit Card/ Electronic banking Cyber Risk amongst others.

F. Premises

SBI has always incorporated environmental management practices in itsfunctioning as a responsible corporate. Your Bank has initiated varied initiatives with anintent and commitment to a greener world much in alignment with national priorities.

We are happy to share that we have achieved a milestone for gettinggreen building ratings of IGBC to our nine prestigious buildings during this financialyear making it a total of 18.

We are also happy to shift our Corporate Office State Bank Bhavan to100% Green Energy through which we can offset around 52 tonnes of Carbon Dioxide everyyear. This is one step toward our future goal to become Carbon Neutral by 2030.

4. Official Language

Leveraging technology in rendering Banking Services in Hindi and otherIndian Languages

SBI is committed to propagating the use of the Official Language in theBank through multiple channels set up by the Bank. Your Bank has taken innovative steps topropagate the use of Official Language in reaching out to customers and has earned manylaurels for the organization.

Your Bank is committed to rendering banking services in Hindi and otherIndian languages. It has a comprehensive and well-designed digital platform to suit theexpectations of Digital India. Various products are being made available in Hindi anddifferent regional languages.

Because of technological up-gradation a new and better version of theHindi Passbook and Account Statement Printing has been made available in Hindi in corebanking. This facility of issuing Passbook and account statements etc. in Hindi has beenimplemented all over India.

SMS alerts of transactions in CBS to the Bank?s customers extendedto 13 Indian languages: Oriya Gujarati Kannada

Tamil Assamese Punjabi Bengali Maithili Marathi Malayalam andTelugu in addition to Hindi and English. This will enable about 90% of the country'spopulation to be covered with SMS alerts in their mother tongue.

Yono Lite app for mobile banking has been made available in 12 Indianlanguages and the Yono Krishi app is now available in 10 Indian languages includingHindi Tamil Telugu and Malayalam. Our Banking website onlinesbi is available in 14Indian languages. SBI Quick app has been made available in 14 Indian languages.

The Bank's corporate website is available in Hindi andEnglish.

Our call centres are currently providing solutions to customers in 13languages with more than 80 per cent of the questions being responded to in Indianlanguages.

Celebration of Hindi fortnight at the national level and World HindiDay at the international level

To popularize the use of Hindi among the staff members of your Bank inIndia Hindi fortnight was organized from 14th to 30th September2021 at the national level. World Hindi Day was celebrated on 10th January 2022in the Branches abroad wherein various Hindi programs and competitions were held tospread the usage of Rajbhasha in the Bank.

Government of India?s Rajbhasha Kirti Puraskar for Bestimplementation of Official Language among the Public Sector Banks Bank has been awardedthe Government of India's coveted Kirti Puraskar for Best implementation of Rajbhashaamong Public Sector Banks for the year 2020-21.

The award was given by the Honorable Union Minister for Home Shri AmitShah.

Rajbhasha Ratna & Rajbhasha Yodha Award by "Ashirvaad" arenowned Literary and Cultural Organization.

For propagating the usage of Official Language Hindi the RajbhashaRatna award was conferred by "Ashirvaad" a renowned Literary and CulturalOrganization to DMD (HR) & CDO Shri Om Prakash Mishra. The award was given by theHonorable Governor of Maharashtra Shri Bhagat Singh Koshyari. Rajbhasha Yodha award wasconferred on your General Manager (Rajbhasha & Corporate Services) Shri DineshPruthi.

Awards from the Town Official Language Implementation Committee to SBI.

The Town Official Language Implementation Committee constituted underthe Chairmanship of the State Bank of India Bhubaneswar Rajkot and Jabalpur wereawarded first prize for their outstanding performance in implementing official languagepolicy in their respective towns. Similarly your Administrative Offices at Nizamabad andSurat bagged 2nd Prize for implementation of Rajbhasha while AdministrativeOffice Patna was awarded the Third Prize for best implementation.

5. Marketing and Communications

The Marketing and Communications (M&C) Department is responsiblefor Bank's branding product marketing and corporate communications initiatives. TheDepartment adopts a contemporary marketing approach to give impetus to the digitalinitiatives and connect with young India. It endeavours to develop and implementintegrated marketing strategies to address the business challenges of different divisionsof the Bank including Indian and overseas operations. This Department comprises domainskilled professionals and specialists drawn from various relevant fields - mediamarketing communications digital marketing advertising and public relations.

Throughout the Pandemic even though the branches and ATMs werefunctioning uninterruptedly the focus of the M&C department was to promote yourBank's digital initiatives for the safety of customers and staff. Bank undertook variousinitiatives to increase the download and consistent use of SBI's digital banking channelslike YONO SBI BHIM Pay Yono Lite etc. The M&C department engaged with Bank'scustomers to increase the awareness of alternate channels and their safe usage. Bank alsoundertook various brand/marketing initiatives like "I am the I in SBI""Har Tyohar Shubh Shuruat" "Easy-Ride" etc. and campaigns such as#HumSabkaSBI #BankerToEveryIndian #SbiAapkeSaath etc. on various social media platformsfor creating customer awareness about Bank's products and services.

The M&C team launched major marketing campaigns for products suchas Home Loans Personal Loans Current Accounts NRI Services and Digital Products amongothers. The Department also initiated one of its kind Media-outreach programme for thecustomers and took the products and services of the Bank to every corner of the Country.Various media channels such as print social media digital platforms websites and ATMsamong others were used for the campaigns. The Department also promoted Bank's severalsustainability initiatives and CSR activities through various media platforms.

Along with the other marketing initiatives Bank plans to furtherpromote its various digital initiatives and its flagship product YONO. The thrust of theM&C Department is to constantly redefine and reinvent all its marketing initiatives tostay relevant and act as a change catalyst for State Bank of India to retain the glory ofbeing one of the most vibrant and trusted brands

6. Vigilance Mechanism

There are three aspects to the vigilance function- Preventive Punitiveand Participative. Based on past experiences/incidences system/process improvements arebeing undertaken continuously by leveraging technology and the guidelines of your Bankare being streamlined as a preventive vigilance measure.

During this year Vigilance Awareness Week was observed from 25thOctober 2021 to 1st November 2021 with the theme "Independent India @ 75:Self Reliance with Integrity; mJrTT YUrT @ 75: mTrqfTOT me DTrCTfvTYTjcn' I" As apart of an observance of Vigilance Awareness Week "Integrity Pledge" has beenadministered to all staff members. All channels of your Bank such as SBI Times ATMsCDMs Internet Banking Facebook Twitter Instagram and LinkedIn are used to createawareness among employees and the public on the theme of Vigilance Awareness Week (VAW).

During the VAW we hosted a conference of CVC with the Top Managementof your Bank. The Commission was presented with the elaborate Preventive Vigilancemeasures your Bank took. The Chief Vigilance Commissioner also launched the VigilanceBulletin 2021. Commission also appreciated various efforts undertaken by your Bank.

We also hosted a meeting of the Department of Financial Services (DFS)Central Vigilance Commission (CVC) and CMDs of all Public Sector Banks on 01stOctober 2021 to discuss the staff accountability framework and ABBFF Committee.

The Commission in consultation with RBI and DFS has extended thescope of ABBFF to cover all fraud cases involving an amount of Rs.3.00 crores and aboveand examine the role of all levels of officials / Whole Time Directors (includingexofficials / ex-WTDs) in all Public Sector Banks with cut off date of 06.01.2022.Earlier only fraud cases above Rs.50.00 crores were referred to ABBFF.

The DFS in consultation with CVC also issued a new framework of staffaccountability examination in all the cases up to Rs.50.00 crores vide their letter dated29.10.2021. DFS also advised all banks to frame the staff accountability policy withinthis framework effective from 01.04.2022.

The Vigilance Department has conducted 609 preventive vigilanceprograms 122 EO/PO/IO training and 42 Investigation officers training covering 10250officers. In addition to conducting suo- moto investigations in complaint prone branchesand branches where the RFIA Auditor observed serious irregularities we have startedconducting Suo-moto investigations in High-Risk & Very High- Risk branches identifiedby AI/ML engine to ensure and improve the preventive vigilance measures.

1338 cases have been closed during FY2022 compared to 1029 casesduring the previous year FY2021 which is an impressive improvement of case closures overthe last year by 23%.

7. Asset and Liability Management

Efficient Management of Assets and Liabilities (ALM) is vital forbanks' sustainable and qualitative growth. ALM of the Bank aims to strengthen the BalanceSheet by pro-actively reviewing the market dynamics capturing the signals emanatingtherefrom and ensuring value creation while conforming to the regulatory requirements.

As part of sound Risk Management practices your Bank has constantlyreviewed its Internal Policies on ‘Deposits' ‘Asset and Liability Management'‘Stress Test on Liquidity and Interest Rate Risks' and ‘Contingency FundingPlan' and efficiently adapted to changes in market conditions. Bank has been carrying outStress Tests and Reverse Stress Tests to cover the eventual risk that may crop up as aworst-case scenario.

Studies are conducted at regular intervals to assess the behaviouralpattern of customers (embedded options available to customers) to impart proper treatmentto the non-contractual assets & liabilities items while evaluating liquidity position.Behavioural analysis is carried out at half-yearly intervals to ensure accuratepositioning of outflows/inflows in liquidity and interest rate sensitivity statements thatmay arise due to Off-Balance Sheet (OBS) exposures and the impact of probable loan losses.The prevailing assumptions relating to non-contractual assets & liabilities items areperiodically reviewed back-tested and updated based on the outcomes of the lateststudies.

The stock of High-Quality Liquid Assets (HQLA) and cash outflows areeffectively monitored daily under a dynamic market environment to ensure the maintenanceof LCR as prescribed by the Regulator and Bank's internal policy benchmarks. Your Bank hasproactively implemented the NSFR guidelines of RBI measuring the long-term resilience ofthe Bank in terms of liquidity much before the submission (Regulatory) mandate.

Your Bank identifies the inherent risks associated with changinginterest rates on its Balance Sheet (On/Off) exposures from short-term and long-termperspectives. For this purpose the impact on Earnings at Risk (EaR) and Market Value ofEquity (MVE) is assessed with pre-defined tolerance limits enabling the Management toinitiate appropriate preventive steps in a likely scenario of erosion NII / Net Worth.

To encourage branches to garner stable funds and assess theirprofitability based on the cost of funds a matched maturity- based Funds Transfer Pricingwas adopted by your Bank. The Bank constantly strives to ensure an adequate monetarypolicy transmission through its benchmark lending rates.

The Asset Liability Management Committee (ALCO) of the Bank monitorsand manages Liquidity and Interest Rate Risks by modulating the asset-liability mix in theBalance Sheet and recalibrating the pricing of liabilities & assets from time to time.ALCO among other areas reviews the Interest Rate scenarios the pattern of growth ofliability products credit growth competitive advantages evolving liquidity conditionsadherence to the regulatory prescriptions etc. regularly.

With automation of Regulatory Reports/ Returns pertaining to ALM yourBank is well-positioned in monitoring and compliance regarding Liquidity and Interest RateRisk Management.

8. Ethics & Business Conduct

The Ethics and Business Conduct department of your Bank is responsiblefor carrying out initiatives to strengthen and integrate ethics and morality in all theoperational areas of the Bank. With this objective the Department has carried out a hostof activities in the previous financial year.

FY2022 like the previous year was marked by disruptions caused by thesecond and third wave of COVID. However by constant integration of the digital platformsin all operations it was ensured that the entire gamut of activities of the Departmentcontinued unaffected and uninterrupted. In addition to the existing initiatives a newemail broadcast series was started based on the anecdotes of the exemplary ethicalstandards demonstrated by distinguishing personalities. Your Bank has framed Conflict ofInterest Policy to mitigate ethical risks and sensitize the staff where individualinterest is unduly affecting the business dealings. To submit disclosures to SEBI underthe essential Indicators i.e. Business Responsibility & Sustainability Reporting(BRSR) your Bank has formulated Anti-Bribery & Anti Corruption Policy which explainsthe relevant principles and rules for preventing bribery and corruption and safeguardingthe larger organizational interests.

To further deepen the roots of ethics and to gauge the level ofawareness among the employees related to risk and ethics culture of the Bank a survey wasconducted in which over 90% of the employees participated. The survey shows that the vastmajority of the employees are aware of the risk and ethical culture of the Bank.

Your Bank is highly committed to nurture an inclusive secure and safeenvironment for its women employees. Your Bank has a dedicated Garima (POSH) frameworkwhich covers the entire process cycle comprising awareness escalation and empowerment onmatters relating to gender sensitivity and sexual harassment. The Department is the nodalpoint for overseeing the complaints under Garima POSH of the entire Bank including timelyhandling of appeals by the aggrieved parties. A mentoring program for newly joined womenemployees was launched during the year to ensure their smooth transition towards Bank'sculture imbibing ethics and values. To create awareness among employees related to GarimaPOSH comprehensive handbooks were released for their quick and easy reference. Amid Coviddisruptions your Bank has regularly conducted webinars on Ethics & Garima POSH forthe concerned target groups to spread awareness and inculcate the Values of the Bank.

In the area of Discipline Management your Bank has framed acomprehensive Staff Accountability Policy to promote a healthy environment of compliancewith the laid down rules regulations norms and systems & procedures in order tosafeguard the interest of the Bank and its stakeholders. The Staff Accountability Policyis aimed to protect the employees for their bonafide actions and at the same time to makethem accountable for any wrongdoing or any inaction on their part. The Policy has alsobeen reviewed subsequently to align it with the Staff Accountability Framework issued byDFS GOI. The Ethics and Business Conduct Department of your Bank is not stopping at thispoint; the journey is perennial and continuously strives to demonstrate ethics of thehighest standard through various efforts.

9. Corporate Social Responsibility

CSR is one of the activities through which your Bank plays the role ofa responsible corporate citizen. The CSR at SBI aims to integrate economic environmentaland social objectives to implement national priorities for social development. The aim ofCSR policy in your Bank is "To participate in activities that benefit communitydevelopment social responsibility and environmental sustainability and reach out tosocially & economically disadvantaged sections of society."

Most CSR activities are undertaken in rural and urban slums where thedowntrodden people live and need help in medical education food and shelter amongothers.

The donations are not made based on caste creed religion and region.Donations are made to the underprivileged sections of the society who are financiallyweak and need support from the donors for their sustenance. The beneficiaries of your Bankinclude needy people from all sections of the community. Your Bank supports NGOs/Trustswhich work to uplift these sections of society. Its focus is on improving thesocio-economic wellbeing of the society particularly of the less fortunate andunderprivileged members and enabling them to live up to the potential that they allpossess.

CSR spend during FY 2022

1 Total CSR Budget for FY 2022 '204.10 Cr.
2 Allocation to SBI Foundation '102.56 Cr.
3 CSR expenditure by your Bank through Circles & Departments '101.54 Cr.

Banks Fight against COVID

Your Bank has undertaken various activities to fight against Covid-19through SBI Foundation. SBI Foundation allocated an amount of '71 Crore. Initiativesinclude:

Short-term interventions:

• Distribution of food & ration kits healthcare equipmentlike PPEs masks and oximeters.

• Raising awareness

• Vaccination drives

• Creating COVID care centres

Operational mid-term interventions:

• Installation of oxygen plants

• Upgradation of healthcare infrastructure

• Mobile & community testing among others.

Innovative long-term interventions

• Genome sequencing

• Capacity building of healthcare workers

• Indigenously designed healthcare solutions & technologyamong others.

Supporting Women Empowerment Activities

• Setting up Bharosa Centre at Karimnagar Telangana to provideintegrated support and assistance to women and children affected by violence both inprivate and public spaces under one roof.

• Supported Sachhi Saheli New Delhi for sensitizing menstruatingwomen and girls from slum areas in Delhi to deal with menstruation in a healthy hygienicand effective manner.

• Supported Samaj Shakti Society Tripura for procurement ofsewing machines and other tailoring equipment.

• Supported Silver Lining society New Delhi towards procuringinfrastructure which helps enhance the quality of service provided to blind girlbeneficiaries residing and getting educated at their NGO.

• Provided nutritional kits and medical items to the needy womenand children of most marginalized households in Dharmashala Rait and Nagrota blocks ofKangra District Himachal Pradesh.

Supporting Health Care

• Supported various trusts like Dhanvantari Charitable Hospital-Bengaluru Shanukhapriya Trust- Mumbai Shanmukhananda Trust- Mumbai Prasanthi medicalServices and research Foundation-Ahmedabad in procurement of different medicalinstruments required for the hospitals and health centres run by them.

• Supported Govel Trust Chennai for the purchase of MedicalEquipment. Govel Trust runs Aravind Eye Hospitals which provides large volume highquality and affordable eye care.

• Supported Sparsh Hospice Centre of Palliative Care Hyderabad.The donation is utilized for Palliative Care for terminally ill cancer patients for whomtreatment to cure is no longer effective.

• Your Bank has supported various Trust Hospitals by donatingambulances


5 setting up Operation Theatre ICU rooms and donating medicalequipment.

Supporting Education

• Supported Tata Steel Foundation -

t Mumbai in setting up digital-based

classrooms for children in remote and 5 tribal areas ofOdisha and Jharkhand.


y • Donated to the needy students in Thiruvananthapuramunder the scheme "Vidyakiranam".

? • Supported Matrubhan Society

^ Bhubaneshwar in budling mobile science and maths- lab.

• Support for setting up Smart Classrooms in various Kasturba


Schools in Uttar Pradesh.

3 • In addition to the above your Bank has undertaken variousother activities including donating vehicles computers and school infrastructure.

f Swachh Bharat Environment r Protection and Sanitation

• Supported procurement and installation of High Mast Solar Lightsin the 27 Gram Panchayats of Khurda District Orissa.

• Supported World Wild Fund (WWF) for nature Hyderabad forsetting up solar- based deep-well pumping systems to provide water to Wildlife in deep


5 Nallamalla Forest (Nagarjuna Sagar Srisailam Tiger Reserve).

In addition to the above your Bank has undertaken various otheractivities including installing solar power units among others.

Welfare activities for the Persons with Disabilities


l Various initiatives have been undertaken to uplift persons withdisabilities through multiple organizations such as Lakshya Sadhana Society HyderabadRajasthan Mahila Kalyan Mandal Ajmer Astha - 5 Delhi Helpers of Handicapped - Kolhapur5 Assisted Living for Autistic Adults (ALFAA)-

r Bengaluru among others.

Tribal Welfare

Your Bank undertook various measures to benefit Tribal people throughSocieties like NEDAN Foundation Kokrajhar and Buddhist Culture Society Itanagar.

Animal Welfare

Your Bank has adopted tigers and other endangered animals for theirwelfare for one year through various Zoological parks and animal shelters.

Supporting Sports and Athletes

Supported Inspire Institute of Sport Vijayanagar Karnataka forprocurement of Sports and fitness equipment. Donated to "Project Mumbai" forprocuring specially designed wheelchairs for the differently- abled sportspersons toenable them to participate in wheelchair basketball competitions.

Employee Volunteer - SBI Children?s Welfare Fund

With the concept of "Charity begins at home" Your Bankestablished a Trust in 1983 -SBI Children's Welfare Fund an initiative by the staffmembers. The Trust was created by the voluntary contribution from the Staff of your Banktowards the betterment of the underprivileged and Orphan children. The interest earned onthe corpus of the fund is utilized to extend grants to Institutions engaged in the welfareof disadvantaged children viz. orphans differently-abled needy and deprived amongothers.

I. Sustainability at SBI

"Sustainability" has been identified as one of your Bank'sCore values. Your Bank has been performing on the Sustainability front through amulti-fold approach viz. management of social and environmental risks in strategicdecision making and development of innovative products and services. Your Bank hasentrusted the Deputy Managing Director (HR) and Corporate Development Officer to overseethe Bank's overall sustainability vision.

To enhance Sustainability practices in your Bank in a formalizedmanner a Board-approved "Sustainability and Business Responsibility (BR)Policy" has been put in place. As per Global Reporting

Initiative (GRI) framework a Sustainability Report is being publishedannually. For reporting on ESG (Environment Social and Governance) parameters by listedentities your Bank is also endeavoring to adapt to the "Business Responsibility andSustainability Report (BRSR)" framework.

Sustainability Initiatives of your Bank

Your Bank's effort has been to align the Sustainability initiativeswith the National priorities focusing on achieving much- desired Sustainable DevelopmentGoals (SDGs). Some of the key initiatives already undertaken and in contemplation inter-alia include:

Recognizing the concerns of Climate change as a Corporate Socialobligation your Bank has charted a Carbon Neutrality strategy intending to achieve thestatus of a Carbon Neutral organization by the year 2030 in a phased manner. Installationof solar systems at Bank's owned premises Energy-efficient lighting and air conditioningsystems at Bank's premises are being taken up continuously. Your Bank also has itswindmills installed for captive use having an aggregate capacity of 15 MW.

New loan offerings to help the cause of Climate Action and the alreadyintroduced unique loan products like E-Rickshaw Loan and Green Car Loan. "SuryaShakti- Solar Finance" and "Finance to Bio-Fuel Projects" have been madeavailable. Recognizing Climate Change as one of the crucial risks the world faces todayyour Bank has developed its Climate Change Risk Management Policy.

In line with the country's vision for scaling up Renewable Energy (RE)power generation your Bank is also facilitating RE financing in a big way. Your Bank hasavailed lines of credit from multilateral agencies viz the World Bank among others foronward lending to RE Power developers. The FY 2021-22 saw the dual listing of SBI's GreenBonds worth USD 650 million on the India International Exchange and the Luxembourg StockExchange.

Your Bank's offices branches and other establishments are workingtowards adopting a green ecosystem. As of now 18 premises of the Bank have been certifiedby Indian Green Building Council (IGBC) under different categories (Platinum Gold orSilver). Nearly 500 Bank premises now have Solar power installations and more than 3000ATMs are backed by solar power. Additionally 326 rainwater harvesting sites at the Bank'svarious premises have been set up. Your Bank is also striving to shift the powerrequirements of its large establishments from existing fossil fuel-based to green sources.Under this initiative Bank's two prominent establishments- Corporate Office Building inMumbai and the Mumbai Metro Local Head office have successfully transitioned to the greenenergy platform. Your Bank also has an Electronic Waste (e-Waste) Management Policy tohandle such waste effectively.

During FY2022 more than six lakh trees were planted by your Bankcountrywide.

Your Bank has also taken digitization in a big way by integrating itsdigital strategy with its overall business strategy. Enhanced digitalization is poised tobring greater ease of business and strengthen the sustainability agenda by positivelyimpacting the triple bottom line of Planet People and Profit. Bank's flagship digital app- YONO has contributed immensely towards reduced paper usage apart from significantlyfacilitating business conduct and enriching customer usage. It is estimated that thePre-Approved Personal Loan (PAPL) accounts opened through the YONO app have avoidedapproximately 383 lakh sheets of paper during FY 202122. Further to motivate your Bank'sdigital channel customers SBI is offering Green Reward Points. These can be redeemed forcredit to SBI Green Fund the proceeds of which will be utilized for sustainableactivities like Tree plantation installation of water harvesting units construction ofBio-toilets and Covid care activities among others.

During the current financial year your Bank observed various dayshaving Sustainability relevance viz. World Environment Day International Yoga Day WorldSoil Day and Earth Hour. Further "Joy of Giving Week-Daan Utsav" was observedthroughout the Bank through which donation activities were carried out for marginalizedsections of the society. Further with an intent to positively engage with employees anonline Quiz was launched for their continued sensitization on ESG and SDGs relatedmatters. Additionally a suitably crafted innovative engagement programme for youngemployees called "Samarthya" was also launched highlighting the importance ofethical and professional standards in successfully discharging roles and duties.

In addition to the above your Bank has been taking several initiativesdirected towards community development in general imparting financial literacy wideningthe net of financial inclusion and better human capital management.

V. Subsidiaries

SBI Capital Markets Limited (SBICAPS)

(Rs. in crore)

Name of the subsidiary company Ownership (SBI Interest) % of ownership Net Profit / (losses) Mar 2022
SBI Capital Markets Ltd. 58.03 100% 620.10

SBI Capital Markets Limited (SBICAPS) a 100% owned subsidiary of yourBank is one of India's leading domestic Investment Banks registered with SEBI as acategory-I Merchant Banker and a Research Analyst. Incorporated in 1986 SBICAPS offersits clients the entire bouquet of investment banking and corporate advisory services.These services include Project Advisory Loan Syndication Structured Debt PlacementMergers and Acquisitions Private Equity Restructuring Advisory Stressed AssetsResolution IPO FPO Rights Issues Debt and Hybrid Capital raising. SBICAPS is alsoinvolved in fundraising through new products such as Real Estate Investment Trusts (REIT)and Infrastructure Investment Trusts (InvIT) in line with Government's Asset MonetisationPlan. Headquartered in Mumbai SBICAPS has 5 Regional Offices across India (AhmedabadChennai Hyderabad Kolkata and New Delhi) and 4 wholly-owned subsidiaries - SBICAPSecurities Limited SBICAP Ventures Limited and SBICAP Trustee Company Limited and SBICAP(Singapore) Limited.

Ranked No.1 - India Borrower Loans - Mandated Lead Arranger - marketshare of 22.6% (March 2022) as per Bloomberg League Table.

On a standalone basis SBICAPs posted a PBT of '601.66 crores duringFY2022 against '573.11 crores during FY21 and a PAT of '339.70 crores for FY2022 asagainst '273.25 crores for FY2021. On a consolidated basis the Company has posted aprofit after tax of '620.10 crores against '527.10 crores in the previous year.

During the financial year the Company completed and has been involvedin several marquee transactions such as Debt syndication for Numaligarh RefineryFinancial Debt Resolution of Dewan Housing Financial Corporation Limited maiden Bondissuance of Vadodara Municipal Corporation - Pre-IPO Advisory & IPO of Life InsuranceCorporation of India etc.


SBICAP Securities Ltd (SSL) one of the essential players in thebroking industry started operations in 2006 to provide primary and secondary capitalmarket access to retail customers and became the broking arm of the State Bank of India(SBI) Group.

SSL has 4 main verticals - Retail Broking Retail Sales Retail Assetsand Retail Distribution and it has showcased its strength across all these verticals.

In broking SSL currently serves more than 26 lakhs customers throughthe state of the art trading platforms on the mobile app website and dealer terminal. SSLoffers its customers a variety of products and services to choose from - such as EquityDerivatives Mutual Funds and Currency.

The Company is acquiring new Demat accounts through the Bank channeland the Open Market channel through Digital account opening journey. In Retail AssetsSSL is the captive sourcing arm of the State Bank of India and is contributing to Bank'soverall Home Loan and Auto Loan business.

SSL is also a one-stop third party distribution arm for mutual fundsbonds insurance Sovereign Gold Bonds Corporate Deposits etc through a strong IFAnetwork. The retail Distribution vertical is being ably supported by all other businessverticals in selling/cross-selling these products to the clients.

We launched the new "SBI securities" mobile & web tradingapp in September 2021 and have also revamped backend trading systems for robust support tothe latest web and mobile trading platforms.

The Company posted a net profit of '232.89 crore during the year endedFY2022 as against '207.70 crore in FY2021.


SBICAP Ventures Ltd (SVL) a wholly- owned subsidiary of SBI CapitalMarkets Limited presently manages Neev Fund I (Neev) SVL SME Fund (NEEV II) & SWAMIH Investment Fund I (SWAMIH). The Company is also the investment manager for two Funds ofFunds: Self Reliant India (SRI) Fund and the UK India Development Cooperation Fund(UKIDCF).

Neev is SEBI registered Category-I AIF with a mandate to invest ininfrastructure development of eight low-income states. SVL is a general partner in theFund with '63.64 Cr investment 12.61% of fund size.

SVL SME Fund is a SEBI registered Category I AIF which had its firstclose in June 2021 at '480 Cr with a drawable corpus of '145 Cr. The Fund has made threeinvestments aggregating to '127 cr in the first year.

SWAMIH is a SEBI registered Category-II AIF which first closed on 6thDecember 2019 at '10037.50 crores with the Government of India PSBs and institutions asinvestors in the Fund. It has the mandate to provide last mile funding to stalled housingprojects. The Fund has also received a soft commitment from GOI to invest an additional'5000 Cr in the Fund.

SRI Fund was set up in Oct 2021 by National Small IndustriesCorporation (NSIC) on behalf of the Ministry of MSME with a corpus of '10000 Cr. Up toMarch 2022 final approval has been given for 23 investments in daughter funds amountingto '3465 Cr.

SVL has earned a gross revenue of '91.75 Cr for FY2022 as against'79.77 Cr for FY2021. SVL has posted a net profit of '32.28 Cr for FY2022 as against'37.04 Cr for FY2021.


STCL commenced the Security Trustee business on 1st August2008 is active in providing security trustee services for high-value lending to infraprojects and large and medium corporates and is the No.1 Security Trustee in the industry.They also perform the role of a Debenture Trustee for the Debentures / Bonds issued byCorporates. STCL also provides other related services like Share Pledge Trustee EscrowTrustee AIF and InvITs.

STCL posted a Net Profit of '15.71 Crores during FY2022 against '12.98crores in FY2021.

Further STCL has developed the new product ‘Virtual Data Room(VDR)' which provides cloud storage and an easily retrieval facility.


SSGL is a wholly-owned subsidiary of SBI Capital Markets Limited. Itcommenced business in December 2012. SSGL is in the process of voluntary winding up ofoperations. The process of surrendering the license to the Monetary Authority of Singapore(MAS) has been completed.

SBI Cards & Payments Services Limited (SBICPSL)

(Rs. in crore)

Name of the subsidiary company Ownership (SBI Interest) % of ownership Net Profit / (losses) Mar 2022
SBI Cards and Payment Services Limited 652.63 69.20% 1616

SBI Cards and Payment Services Limited ("SBI Card") is anon-banking financial company that offers an extensive credit card portfolio to individualcardholders and corporate clients which includes lifestyle rewards travel & fueland banking partnerships cards along with corporate cards covering all primarycardholders' segments in terms of income profile and lifestyle. It has diversifiedcustomer acquisition channels to engage prospective customers across a broad spectrum.

Performance Highlights (FY2022):

• Profitable operations: PAT '1616 Cr achieved 64 % YoY growthROAA at 5.4% up by 156 bps YoY ROAE at 22.8% up by 621 bps YoY

• Market share: Cards in force 18.9% Spends 19.2% Transactions19.8% [as per RBI report available till Feb' 22]

• Growing Portfolio: Cards-in-Force of 1.38 Crore at 16% YoYSpends '186353 Cr at 52% YoY Receivables '31281 Cr at 25% YoY

• Asset quality: GNPA @ 2.22% NNPA @ 0.78% total managementoverlay at '51 Cr

• Healthy CAR @ 23.8% T-1 @ 21.0%

Awards and recognitions:

• Recognised as Super Brand 2021 in the credit card category.

• Recipient of the ‘Reader's Digest Trusted Brand' award for2021 in the Credit Card Category.

• Received ISO 31000 compliance and COPC certification

• Silver Stevie Award for back-office customer service and BronzeStevie Award for the best return on customer service investment categories.


(Rs. in crore)

Name of the subsidiary company Ownership (SBI Interest) % of ownership Net Profit / (losses) Mar 2022
SBI DFHI Ltd. 131.52 72.17% 142.06

SBI DFHI Limited one of the largest standalone Primary Dealers (PD)with pan

India presence is mandated to support the book building process inprimary auctions and provide depth and liquidity to secondary markets in G-Sec. BesidesGovernment securities it also deals in money market instruments and non-G-Sec debtinstruments. As a PD its business activities are regulated by the RBI.

The Company posted a Net Profit of '142.06 crore as of 31stMarch 2022 as against '251.67 crore as of March 31 2021. The total balance sheet sizewas '13079.28 crore as of March 31 2022 as against '10013.90 crore as of March 312021.

SBI General Insurance Company Limited (SBIGIC)

(Rs. in crore)

Name of the subsidiary company Ownership (SBI Interest) % of ownership Net Profit / (losses) Mar 2022
SBI General Insurance Company Ltd. 151 69.96% 131

SBI General is one of the fastest-growing private general insurancecompanies with a commitment of carrying forward the legacy of trust and security alongwith vision to become the most trusted general insurer for a transforming India. SBIGeneral incorporated in 2009 as a public limited company was originally a joint venturebetween the State Bank of India (SBI) and IAG International Pty Limited a subsidiary ofInsurance Australia Group Limited. Out of the 74% stake in the Company 4% stake wasdivested in 2018. Further IAG the erstwhile JV partner of 26% had made a complete exitin March 2020 by divesting its entire stake to Napean Opportunities LLP (16.01%) and HoneyWheat Investments Ltd (9.99%).

SBI General has expanded its presence from 17 branches in 2011 to over137 branches pan-India. To date The Company served around 8.7 crore customers through arobust multi-distribution model encompassing Bancassurance Agency Broking and RetailDirect Channels. The Company has also entered into strategic partnerships with India'sleading automobile manufacturers and brokers to create long-term sustainable value.

SBI General focus on serving three key customer segments viz. - RetailSegment Corporate Segment and SME Segment; and are future-ready to serve the growingneeds of Indians with new age processes and services at affordable prices.

SBI General registered a growth rate of 11% with a market share of4.15% in FY2022 and ranked 7th amongst private insurers and 12th inthe overall industry. SBI General has generated a net profit of '131 Cr in FY2022.

Awards and Recognitions:

• Asia's Best General Insurance Company for Rural Presence 2021by Insurance Alerts.

• Ranked No. 1 under General Insurance by YouGov Finance PurchaseRankings for 2021

• Insurer of the Year in the Non-Life category at FICCI InsuranceIndustry Awards

• ‘One of the 50 Most Trusted Brands 2021' for epitomisingExcellence in the BFSI Industry' by Marksmen Daily in partnership with NDTV 24*7.

• ‘Responsible Business of the Year' at SABERA 2021.


(Rs. in crore)

Name of the subsidiary company Ownership (SBI Interest) % of ownership Net Profit / (losses) Mar 2022
SBI Global Factors Ltd. 137.79 86.18% 25.26

SBIGFL is a leading NBFC providing factoring services for Domestic andInternational trade. The Company's services are especially suitable for MSME sectorclients to free up resources locked in book debts and provide necessary liquidity.

The company reported Profit After Tax (PAT) of '25.26 crore for theyear ended March 2022 against '18.47 crore for the year ended March 2021. The turnover forthe year ended March 2022 is '4773 crores compared to a turnover of '4352 crore in March2021.

Turnover in TReds for the year ended March 2022 is '1737 crore asagainst '982 crore in the previous year ended in March 2021.

SBI Life Insurance Company Limited (SBI Life)

(Rs. in crore)

Name of the subsidiary company Ownership (SBI Interest) % of ownership Net Profit / (losses) Mar 2022
SBI Life Insurance Company Ltd. 555 55.48 1506

SBI Life has a multi-channel distribution network comprising anexpansive bancassurance channel including State Bank of India the largest bancassurancepartner in India an extensive and productive individual agent network comprising 146057agents as of 31st March 2022 as well as other distribution channelsincluding direct sales and sales through corporate agents brokers insurance marketingfirms and other intermediaries.

The Company has proven its market leadership in the period ended 31stMarch 2022 with the pole position in Individual New Business Premium IndividualRated Premium Total Rated Premium and Total New Business Premium among private insurers.During FY2022 more than 19.2 lakhs of individual new policies were issued. Leveragingwider reach achieved through its network of 952 offices SBI Life has systematicallybrought large rural areas under insurance reach.

The Company witnessed a 23.4% growth in Total New Business Premium(NBP) vis-a-vis the industry growth of 12.9%. The market share of SBI Life in Total NewBusiness Premium (NBP) among all private players as of 31st March 2022 is22.0%. Total New Business Premium of the Company for the period ended 31st March2022 stands at '25457 crores. Individual New Business stands at '16501 crores and GroupNew Business Premium stands at '8958 crores for the period ended 31st March2022.

SBI Life witnessed a PAT of '1506 crores in FY22 against '1456 croresin FY21. The AUM of the Company crosses '2.6 trillion mark and recorded a growth of 21% at'267409 crores as of 31st March 2022 as compared to '220871 crores as of 31stMarch 2021.

For FY2022 the Indian Embedded Value (IEV) stands at '39625 croresValue of New Business (VoNB) stood at '3704 crores for FY22. VoNB margin stood at 25.9%.

Awards and Recognitions:

• ‘Gold' in Editor's Choice Awards for ‘CustomerOrientation in Life Insurance' at the 20th Outlook Money Awards 2021

• ‘Gold' Honour' at DIGIXX Awards 2021 for Digital MarketingExcellence in Technology for MConnect Life Mobile Application

• ‘Golden Peacock National Training Award' (GPNTA) by GoldenPeacock Awards

• "Bronze" award under the ‘Rural Health Initiativecategory by the Integrated Health & Well-Being Council (IHWC)

• "Insurer of the Year - Life Category" at the FICCIInsurance Industry Awards 2021

• Best CSR Initiative" at InsureNext Awards by BankingFrontiers

• "Best HR Initiatives' at InsureNext Awards by BankingFrontiers

• "Best Risk Management Practices" at InsureNext Awardsby Banking Frontiers

SBI Funds Management Limited (SBIFML)

(Rs. in crore)

Name of the subsidiary company Ownership (SBI Interest) % of ownership Net Profit / (losses) Mar 2022
SBI Funds Management Ltd. 31.50 62.59 1070.65

SBI Funds Management Limited (formerly known as SBI Funds ManagementPvt. Ltd.) is the Asset Management Company (AMC) of SBI Mutual Fund. It is the marketleader in the industry and is positioned among the fastest-growing AMCs in the country. Inthe financial year 202122 under the Mutual Fund segment it has grown 28.3% against theindustry average of 19.5%. If the last three years are considered SBIFML has achieved aCAGR of 31.6% against the industry average of 16.1% indicating its consistentperformance. It has one of the largest investor bases with over 107 lac live investorfolios including 31.50 lac new folios added. The fund house has 22.79 lac active foliosunder the direct investor category and over 2.1 lac folios under the institutionalinvestor category including 1240 superannuation funds. SBIFML has maintained its topleadership position in the passive fund category (ETF) with a dominant market share of51.6%.

The Company's Average Assets Under Management (AAUM) during the quarterended March 2022 was '647067 crore with a market share of 16.86% as against '504455crore and 15.71% respectively achieved during the corresponding period in the previousyear. On a standalone basis SBIFML has posted a net profit (PAT) of '1070.65 crore duringthe year against '862.76 crore earned last year.

The Company has a wholly owned foreign subsidiary viz. SBI FundsManagement (International) Private Limited is based in Mauritius which manages offshorefunds. SBIFML also manages Alternative Investment Funds (AIF) and provides PortfolioManagement Services (PMS) to institutions and individuals as part of its domesticbusiness.

SBI Payment Services Private Limited (SBI Payments)

(Rs. in crore)

Name of the subsidiary company Ownership (SBI Interest) % of ownership Net Profit / (losses) Mar 2022
SBI Payments 4.50 74% 142.36

SBI became the first PSB to form an exclusive JV i.e. SBI PaymentServices Pvt. Ltd. (SBI Payments) for merchants acquiring business and holding a 74%stake in the Company. The Company's objective is to create a state-of-the-art acceptanceecosystem in all geographies of the country and enable the merchants to accept paymentsdigitally across various form factors.

SBI Payments is one of the largest acquirers in the country with morethan 2.45 million Merchant Payment Acceptance Touch Points and over 9.24 lakhs PoSmachines as of 31st March 2022 distributed across geographies (Tier 1 to Tier6). During the financial year the Company launched acceptance for payment of vaccinationand scholarship through the YONO SBI Merchant application (a Soft PoS solution). Inaddition to existing channels for merchant onboarding the Company has started partneringwith significant Payment Facilitators to expand its reach PAN India.

SBI Pension Funds Private Limited (SBIPFPL)

(Rs. in crore)

Name of the subsidiary company Ownership (SBI Interest) % of ownership Net Profit/ (losses) Mar 2022
SBI Pension Funds Private Limited. * 18 92.52% 51.98

*SBI Capital Markets Limited and SBI Funds Management Limited hold 20%equity each in the Company.

SBIPFPL is one of the three PFMs appointed by the PFRDA for themanagement of Pension Funds under the NPS for Central Government (except Armed Forces) andState Government employees and one of the seven PFMs appointed for the management ofPension Funds under the Private Sector.

The Company's total Assets Under Management (AUM) as of 31stMarch 2022 is '282476 crores (YoY growth of 26.89%). The Company maintains a leadershipposition amongst PFMs in terms of AUM with a market share of 38.35%.

The Company has earned the highest ever PAT of '51.98 cr. in FY 2021-22due to an increase in Investment Management Fee by PFRDA w.e.f. 01.04.2021.

SBI SG Global Securities Services Private Limited (SBI-SG)

(Rs. in crore)

Name of the subsidiary company Ownership (SBI Interest) % of ownership Net Profit / (losses) Mar 2022
SBI SG Global Securities Services Pvt. Ltd. 52 65% 100.19

SBI-SG a joint venture between SBI and Societe Generale with 65%holding by SBI commenced commercial operations in 2010 to offer high quality custodialand fund administration services to complete the bouquet of premier financial assistanceprovided to its premium clients by the SBI Group.

Assets under Custody (AUC) stands at '1270299 Cr as of 31.03.2022while the Assets Under Management (AUM) is '899880 Cr as of 31.03.2022. The Company'sNet Profit stands at '100.19 Cr for the FY22 as against '87.02 Cr for FY21.

SBI-SG has been rated as the "Best subcustodian" in the CrossBorder Client category - 2021 as well as Rated no. 2 in the Domestic Client Category andBest Fund Administrator in India & Global Outperformer in the Global Custodianmagazine's Agent Banks and Emerging Markets Survey - 2021.

SBI Foundation

SBI Foundation was established by the State Bank of India as a sectionVIII company under the Companies Act (2013) to undertake the CSR Activities of SBI and itssubsidiaries in a planned and focused manner.

Through SBI Foundation your Bank is making a paradigm shift in thesocioeconomic development of the country by creating an inclusive sustainable andself-sufficient ecosystem through which marginalised and underserved communities fromacross the country can lead healthier and prosperous lives without discrimination based onregion religion caste creed or gender. For FY2022 105 projects were sanctioned with abudget of '168.09 crore.

COVID-19 Response

During FY 2021-22 62 projects for '99.37 Cr were sanctioned towardsCovid 19 and healthcare initiatives like COVID Care centres/ICU facilities GenomeSequencing upgrading health infrastructure Initiatives in partnership with NGOs andother initiatives like UPI based prepaid vaccination vouchers vaccination hesitancyremoval etc.

Multiple initiatives were undertaken to support the setup of nationwideICU beds Oxygenated beds Covid-19 care centres Isolation centres among others. 6oxygen generation plants along with 550 Oxygen Cylinders and 84 oxygen concentrators werealso provided. An Oxygen Pipeline Extension (2000 LPM) and Oxygen Monitoring System toequip 115 beds with oxygen supply was installed at Dr. Hedgewar Charitable Hospital: toimprove and strengthen the health infrastructure in the region in preparedness for apossible third COVID-19 wave.

Healthcare Flagship Programmes

Various healthcare initiatives like Organ Donation Mobile MedicalUnits Nucleic Acid Amplification testing Aspheris machine in Blood Bank ECG screeningfor Foetal Heart abnormality Cleft surgeries and Neuro Rehabilitation centre were taken.

Project Gift Hope Gift Life: Through this project SBI Foundation inpartnership with MOHAN Foundation aims to improve the organ donation rate in India fromdeceased donors through organ donation helpline training healthcare personnelstrengthening organ donation programme in Manipur Karnataka Chandigarh (UT) AndhraPradesh & Maharashtra promoting support group for organ failure patients and raisingawareness and pledging among citizens.

Project NAT: The Nucleic-Acid

Amplification Testing (NAT) has been setup which aims to introduceadvanced blood testing technology at Tata Memorial Centre run Tata Memorial Hospital inMumbai to test 30-35000 blood donor samples to improve blood transfusion safety forapprox. 50000 cancer patients. This will allow blood transfusions to be safer forpatients reduce morbidity or mortality due to TTIs (Transfusion Transmitted Infection)and increase the rate of detection of TTI in blood samples tested by NAT as compared tothe existing ELISA method.

Recognising the needs of the marginalised SBI Foundation undertakesprojects from various thematic areas in an attempt to address the most pressing issuesaffecting our communities. Here are some of the CSR activities undertaken by your Bankthrough the SBI Foundation.

SBI Youth for India Fellowship

SBI Youth for India is a 13-month rural fellowship program whichprovides a framework to India's bright young minds from urban areas to join hands withrural communities in their struggles & aspirations. Our grassroots 14 partners NGOsfacilitate this journey of rural immersion also in the selection of meaningful projects tosolve the rural issues. The application process for 2022-23 i.e 10th batch offellows has begun on 4th March 2022. 74 fellows from the 09th batch(2021-22) have finalized their rural project for implementation across the 15 states ofour country.

SBI GRAM SEVA Programme: "SBI Gram Seva" is a flagshipprogram of the SBI Foundation commenced in Aug 2017 which aims for holistic andsustainable rural development like digitisation promotion of quality educationimprovement in primary health services etc. in the adopted villages. During the financialyear SBI Foundation has sanctioned 5 more projects under the Gram Seva program bycommencing the third phase of SBI Gram Seva program by adopting 25 new villages from NITIAayog's aspirational Districts in five more States- Andhra Pradesh Chhattisgarh MadhyaPradesh Odisha and Rajasthan. With this SBI Foundation has achieved the milestone ofadopting 100 villages under the SBI Gram Seva program. The program has so far impacted20322 families and 113010 beneficiaries across 100 villages in 16 states.

The SBI Gram Seva programme has gradually transformed these adoptedvillages into model village clusters in respective locations in the last five years. Theprogramme has also been able to bring the desired behavioural change and communityparticipation to the fore. In a nutshell through the Gram Seva program SBI Foundationhas been working towards building self-reliant (Atma Nirbhar) villages in line withMahatma Gandhi's philosophy of Gram Swaraj. During the Financial Year 2021-22 an impactassessment of the programme was conducted by Madras School of Social Work (MSSW) Chennaiand they rated the programme quite high in terms of a comprehensive strategy effectiveimplementation social returns on investment (SROI) and the sustainability aspects of theprogramme. The programme has also garnered appreciation and awards from various forumsmedia and others. With an impactful presence across 16 States of the country the GramSeva programme has reaffirmed the SBI Foundation's commitment to the upliftment ofmarginalised communities thereby continuing SBI's long-held legacy of being the Bank forrural India.

SBI Sanjeevani- Clinic on wheels: SBI

Foundation started ‘SBI Sanjeevani- Clinic on wheels' a mobilemedical unit in South Sikkim during FY 2016-17 to provide primary healthcare services tothe rural communities. The project has improved the quality of life of the communities inthe remote villages by providing doorstep medical services.

During the current financial year taking into consideration thecurrent crisis in healthcare due to the Covid-19 pandemic SBI Foundation has up-scaledthe project to 10 States Arunachal Pradesh Bihar Chhattisgarh Haryana KarnatakaMadhya Pradesh Mizoram Nagaland Telangana and Uttarakhand with an estimated outreachof over 2 lakh beneficiaries across 250 remote villages. The project has beenwell-received by the communities and local Health departments are also supporting theinitiative.

Centre of Excellence for Persons with Disabilities (CoE):

Centre of Excellence for Persons with Disabilities (PwD) establishedin 2017 primarily works on empowering PwDs through skill enhancement to make significantand measurable improvements. CoE conducted 27 Special Online training programs (ofone-week duration) for 651 employees with disabilities of which 24 Programs for 599 SBIemployees with disabilities. Three online training programs of 5 days duration wereconducted for 52 officers with disabilities of Telangana Grameena Bank and Indian OverseasBank. Two offline training programs of 5 days duration were conducted for 61 visuallyimpaired officers of Andhra Pradesh Grameena Vikas Bank. The program's primary focus isthe advocacy of the rights of persons with disabilities sensitization and addressing theaccessible needs of PwDs. So far CoE has conducted six webinars attended by 168participants from PSBs. Four sensitisation workshops were conducted for the HR officialsof Union Bank of India. During the year 2021 -22 CoE also sanctioned 8 projects with atotal grant amount of '9.36 Cr focusing in the area of disability including project:"Techtonic Grand Challenge for Assistive Technology Start-ups" with a projectcost of '1.00 Cr.

Rehabilitation treatment of People with Disability (PwD)- An initiativeto support rehabilitation services to 2000 PwDs suffering from traumatic brain and spinalinjuries through 7000 rehabilitation sessions one on one consultation sessions withmedical experts and awareness programmes to educate the masses about the scourge ofTraumatic Brain Injury (TBI).

Upgradation of Clinical Services of Dr. S.R. Chandrasekhar Institute ofSpeech and Hearing: SBI Foundation has partnered with Bangalore Speech and Hearing Trustto support the project "Upgradation of Clinical Services of Dr.

S.R. Chandrasekhar Institute of Speech and Hearing at Bangalore toenable the institute to provide clinical services to the persons with Speech HearingLanguage and Communication disorders. The project will benefit more than 4700beneficiaries from economically backward and rural areas of the Bengaluru District.

School For Potential Advancement and Restoration of Confidence (SPARCIndia): ): SBIF has partnered with SPARC India to ensure inclusive education in governmentprimary schools in Lucknow which aims to develop 20 primary schools into inclusive schoolsfor Children with Disabilities (CwDs) build capacity undertake advocacy and sensitiserelevant stakeholders for a period of 2 years.

Events: CoE celebrated Global Accessibility Awareness Day (GAAD)International Day of Persons with Disabilities (IDPD) and World Braille Day.

Education Programmes

Thirteen projects for '22.53 Cr were sanctioned to support variousinitiatives like Prambhik Bhasha Shikshan Programme Transforming schools and anganwadisin Ladakh web-based literacy project Mathematics education with Khan Academy Toy BankEffective governance through School Complexes Setting up Mini Science centres Qualityeducation in Middle School grades Capacity building of teachers and educationalstakeholders Inclusive education for children with Neurodevelopment disorder supportNational Integrity and Educational Development Organisation (NIEDO) Tata Institute ofSocial Sciences (TISS) to build a coherent school mental health system for improvingmental health outcomes of adolescents in India and support the ‘Model School'initiative for renovating 11 Government Schools and providing a conducive andcomprehensive learning environment for the students.

Livelihood & Entrepreneurship

Eight projects at a financial cost of '13.60 Cr were sanctioned tosupport initiatives like SBIF Revolving Fund to provide Incubation support to socialenterprises Integrated Fish Farming promotion Mega

Watershed construction Wadi Agriculture and incubation support to 15start-ups Training of 5000 youths in Banking Financial Services Insurance (BFSI) industryJob Roles and TISS Prayas to re-integrate and rehabilitate the socially excluded andstigmatised population in criminal and juvenile justice system etc

Women Empowerment Reintegration of Survivors of Trafficking andViolence through Skills Training Education and Sustainable Livelihood:

An initiative for reintegrating survivors of trafficking and violenceinto society by providing them with relevant training education and sustainablelivelihood opportunities in the Thane district Maharashtra.

Promotion of Sports

Two projects for '48.90 lakhs were sanctioned to support 13 Athletes inpartnership with Abhinav Bindra Foundation Trust and Karnam Malleswari Foundation.

Sustainability & Environment

Five projects worth '6.84 Cr were sanctioned to plant fruit-bearingtrees securing a vital tiger corridor between Melghat Satpura Tiger reserves supportthe conservation of Red Panda species in the Khangchendzonga landscape and innovativePublic-Private Partnership (PPP) model for dry waste management at Aurangabad Maharashtrato ensure maximum segregation.

Awards and Accolades:

Name of the Award Category Organization/ Agency
CSR Foundation of the Year Winner Large CSR BOX
Environment - Winner Small CSR Box
Organ Donation - Winner Valuable Contribution Economic Times (TOI)
Jury Recognition for Healthcare (Covid) Healthcare Indian Chamber of Commerce

Regional Rural Banks (RRBs)

With two-thirds of our country's population living in rural areas itpresents a vast yet under-tapped opportunity for the Indian Banking sector. Our extensivenetwork of sponsored Regional Rural Banks (RRBs) is well placed to play a more significantrole and has a great potential to address this scenario. Regional Rural Banks have adistinct competitive advantage due to their large account base and decades of trustearningservice tradition resulting in close proximity to the rural customers.

SBI has sponsored 14 Regional Rural Banks operating at regional levelsin 14 different States. These RRBs have a combined branch strength of 4725 spread across217 Districts as of 31st March 2022.

The sponsored RRBs of SBI are on the CBS platform and offer Bankingservices on par with other commercial banks operating in the country. The Banks haveadopted the best practices and are well placed to handle the ever-evolving demands ofcustomers particularly in Rural and Semi-urban spaces through their customer-centricapproach.

Business Highlights of FY2022:

The aggregate deposits and advances of the 14 RRBs sponsored by theBank as of 31st March 2022 stood at '113502 crore and '73755 crorerespectively as against '105628 crore and '66551 crore as on 31st March2021.

During the year under review despite the persistently challengingmacroeconomic environment and covid pandemic the RRBs improved their business with

deposits growing by 7.46% and advances by 10.82% on YoY as of 31stMarch 2022. RRBs expanded their housing and gold loan exposure by 19.08% and 30.87% (YoY)respectively as a planned strategy to diversify the portfolio.

The RRBs together have posted a Net- Profit of '1659.53 crore duringthe year as against a Net-Profit of '1004.28 crore as of 31st March 2021despite providing substantial provision for the pension of '1245.02 crore as of 31stMarch 2022. The RRBs continue to focus on improving earnings from their core bankingbusiness strengthening the fee income streams and maintaining control of operating costs.

The combined Gross Non- Performing Assets ratio of the RRBs hasdecreased to 4.64% as of 31st March 2022 against 5.44% as of 31stMarch 2021 despite the challenging economic situation due to the covid-19 pandemic. TheNet NPA stands at 1.22% as against 2.16% as of 31st March 2021.

Business per employee during the year improved to '10.76 crore as of 31stMarch 2022 as against '10.09 crore as of 31st March 2021.

Significant Developments in FY2022:

The year under review witnessed several significant events some ofwhich are listed below:

The 14 RRBs with 4725 branch networks are expected to work moreefficiently in the upcoming years thanks to the introduction of Asset Management Hubs(AMHs) - a centralised credit processing system.

To counter the competition from new-age Banks in the geography and havea digital presence seven RRBs have launched a mobile app for digital account opening witha video KYC facility. This facility is being implemented in all 14 RRBs sponsored by SBI.

To improve treasury yields and returns the engagement of SBI FundManagement Limited (SBIFML) for non-discretionary Portfolio Management Services (PMS) forRRBs is approved. 12 RRBs are onboarded and the remaining 2 RRBs are in process.

Mobile App for digital account opening is also introduced in the BCchannel in 09 RRBs and this will be implemented in all RRBs.


Sr. Name of the Associate No. Country of Incorporation

Group?s Stake (%)

Current Year Previous Year
1 Andhra Pradesh Grameena Vikas Bank India 35.00 35.00
2 Arunachal Pradesh Rural Bank India 35.00 35.00
3 Chhattisgarh Rajya Gramin Bank India 35.00 35.00
4 Ellaquai Dehati Bank$$ India 35.00 35.00
5 Jharkhand Rajya Gramin Bank$$ India 35.00 35.00
6 Madhyanchal Gramin Bank India 35.00 35.00
7 Meghalaya Rural Bank India 35.00 35.00
8 Mizoram Rural Bank$$ India 35.00 35.00
9 Nagaland Rural Bank India 35.00 35.00
10 Rajasthan Marudhara Gramin Bank India 35.00 35.00
11 Saurashtra Gramin Bank India 35.00 35.00
12 Telangana Grameena Bank India 35.00 35.00
13 Utkal Grameen Bank$$ India 35.00 35.00
14 Uttarakhand Gramin Bank India 35.00 35.00

$$ We have infused Bank?s share of additional capital in these 04RRBs (i. Ellaquai Dehati Bank ii. Jharkhand Rajya Gramin Bank iii. Mizoram Rural Bankiv. Utkal Grameen Bank) on 10.03.2022 which is now held under Share Capital deposit A/c.This will be accounted for in the Share Capital of respective RRBs after the infusion ofthe proportionate stake by other stakeholders i.e. Gol and respective State Govt.

VI. Management Discussion & Analysis (MDA)

In terms of compliance with the SEBI (Listing Obligations &Disclosure Requirements) (Amendment) Regulations 2018 following ratios have changed bymore than 25% as per details given below:

(in %) Mar 21 Mar 22 Variation (bps)
% Change
Net Profit Margin 6.61 10.02 341 51.59
ROE 9.94 13.92 398 40.04

Net Profit Margin:

The Net Profit has registered YoY growth of 55.19% (from a profit of'20410 Cr in FY21 to Net Profit of '31676 Cr during FY22) as against YoY growth of only2.39% in Total Income (from '308647 Cr in FY21 to '316021 Cr in FY22).

Return on Net worth:

The Net Profit has registered YoY growth of 55.19% (from a profit of'20410 Cr in FY21 to Net Profit of '31676 Cr during FY22) as against YoY growth of12.04% in Net worth of the Bank (from '214666 Cr in FY21 to '240502 Cr in FY22).

VII. Responsibility Statement

The Board of Directors hereby states:

i. that in the preparation of the annual accounts the applicableaccounting standards have been followed along with proper explanation relating to materialdepartures.

ii. that they have selected such accounting policies and applied themconsistently and made judgements and estimates as are reasonable and prudent so as togive a true and fair view of the state of affairs of your Bank as on the 31stMarch 2022 and of the profit and loss of your Bank for the year ended on that date;

iii. that they have taken proper and sufficient care for themaintenance of adequate accounting records in accordance with the provisions of theBanking Regulation Act 1949 and State Bank of India Act 1955 for safeguarding the assetsof your Bank and preventing and detecting frauds and other irregularities

iv. that they have prepared the annual accounts on a going concernbasis

v. that the internal financial controls had been laid down to befollowed by your Bank and that such internal financial controls are adequate and wereoperating effectively; and

vi. that proper system had been devised to ensure compliance with theprovisions of all applicable laws and that such systems were adequate and operatingeffectively.

VIII. Acknowledgement

During the year Shri Anil Kumar Sharma was nominated as Director onthe Board u/s 19 (f) of SBI Act 1955 w.e.f. 13th April 2021 vice Shri ChandanSinha. Shri Prafulla P. Chhajed was nominated as Director on the Board u/s 19 (d) of SBIAct 1955 w.e.f. 21st December 2021. Dr. Pushpendra Rai retired from the Boardon 05th February 2022 consequent upon completion of his term. Shri SanjayMalhotra was nominated as Director on the Board u/s 19 (e) of SBI Act 1955 w.e.f. 16thFebruary 2022 vice Shri Debasish Panda.

The Directors place on record their appreciation for the contributionsmade by Shri Chandan Sinha Dr. Pushpendra Rai and Shri Debasish Panda to thedeliberations of the Board.

The Directors welcome Shri Anil Kumar Sharma Shri Prafulla P. Chhajedand Shri Sanjay Malhotra the new Non-executive Directors on the Board.

The Directors also express their gratitude for the guidance andco-operation received from the Government of India RBI SEBI IRDA and other governmentand regulatory agencies.

The Directors also thank all the valued clients shareholders Banksand financial institutions stock exchanges rating agencies and other stakeholders fortheir patronage and support and take this opportunity to express their appreciation forthe dedicated and committed team of employees of the Bank.

For and on behalf of the
Central Board of Directors
Date: 13th May 2022 Chairman