In an exclusive interaction with Profit, State Bank of India (SBI) Chairman CS Setty shared his ambitious vision for the future of India's largest bank. According to Setty, SBI branches will evolve into full-service financial super stores, offering a wide array of banking, investment, and advisory services to every Indian.
🧩 What Does a Financial Super Store Look Like?
The concept goes beyond traditional banking. Here’s what customers can expect:
Loans, deposits, mutual funds, insurance, and pension—all available under one roof
Digital advisory services for both retail and SME clients
Customized wealth management solutions for affluent customers
Seamless integration of physical and digital banking services
Setty emphasized, “We want our customers to walk into any SBI branch and walk out with all their financial needs met—whether it’s opening a savings account or planning for retirement.”
🔁 Strategic Focus Areas
To bring this vision to life, SBI is focusing on:
Cross-selling and upskilling branch staff
Enhancing digital tools and CRM systems
Personalized banking experience using AI and data analytics
Collaborations with SBI Life, SBI Mutual Fund, and SBI General Insurance
📊 SBI’s Transformation Journey
As part of this vision, SBI is already making strides:
Over 22,000+ branches are being digitally equipped
SBI Wealth and SBI Capital Markets are expanding their footprint
The bank is focusing on rural and semi-urban financial inclusion
🙋 FAQ – SBI’s Financial Super Store Plan
Q1: What is the 'financial super store' concept?
A: It refers to branches offering complete financial solutions—banking, insurance, investments—under one roof.
Q2: When will this rollout be completed?
A: Implementation is gradual, with full rollout expected over the next 18–24 months.
Q3: Will digital banking still be a focus?
A: Yes, this model combines digital convenience with in-branch human advisory.
Q4: How will rural areas benefit?
A: SBI plans to expand full-service offerings to semi-urban and rural locations via BCs and micro-branches.
Q5: Will this involve private partnerships?
A: The bank will leverage its own subsidiaries and possibly co-lend with fintechs and NBFCs.
published on 1st july
Publisher : SMITA
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