Key Highlights
- SBI Chairman says banking sector critical for Viksit Bharat vision
- Bank to continue “Digital First, Customer First” strategy
- SBI increasing investments in AI, cybersecurity, and digital infrastructure
- Focus on seamless omni-channel banking experience
- Project SARAL to improve automation and operational efficiency
- Bank targeting growth in SME, wealth management, and digital banking segments
- Physical branches to remain important alongside digital banking
- SBI aims to strengthen customer engagement and low-cost deposits
New Delhi, May 27: State Bank of India Chairman C S Setty said the Indian banking sector will play a crucial role in helping the country achieve its “Viksit Bharat” vision by supporting economic growth, entrepreneurship, infrastructure development, and financial inclusion.
In his message to shareholders published in the bank’s latest annual report, Setty said the banking industry is entering a transformative phase where technology, customer-centric services, and digital infrastructure will become central to future growth.
Focus on ‘Digital First, Customer First’ Strategy
According to Setty, SBI will continue strengthening its “Digital First, Customer First” approach by investing heavily in areas such as artificial intelligence, cybersecurity, data analytics, automation, and digital banking infrastructure.
He said the bank’s next phase of transformation will focus on creating more personalised, seamless, and technology-driven banking experiences for customers across all segments.
At the same time, SBI emphasized that physical banking and branch networks will continue to remain important, especially for relationship-based banking services.
Technology and AI to Drive Future Banking
The bank plans to further integrate digital services with its physical branch network to create an omni-channel banking experience for customers.
SBI also highlighted that initiatives under Project SARAL will continue helping simplify banking operations through process standardisation, automation, and greater use of artificial intelligence.
The chairman noted that improving turnaround time, customer service quality, and operational efficiency remains a major focus area for the bank.
Focus on Deposits, SMEs and Wealth Management
SBI said it sees strong opportunities in expanding digital onboarding, SME banking, transaction banking, and relationship-led financial services.
The bank also plans to strengthen its wealth management business and use technology-enabled engagement models to deepen customer relationships.
According to Setty, SBI aims to build a stable and low-cost deposit base while increasing customer trust and long-term loyalty.
Banking Sector Seen as Growth Engine
The chairman said India’s banking sector will be instrumental in mobilising capital for economic growth and supporting the country’s broader development goals.
He also stressed that risk management, governance, innovation, and human capital development will remain key pillars of SBI’s future strategy.
