SBI plans Global NRI centre

Manama : State Bank of India has revealed plans to establish a Global NRI Centre (GNC) in India, which would serve as a one-stop support centre to take care of all NRI Business related issues of the customers as well as the branches. 

The centre, according to SBI, will serve as a single point contact for branches/customers /Relationship anagers/Representative offices and Foreign Offices. 

“It will result in better tracking and better control and efficiency,” the bank said in a statement. 

State Bank of India is now the largest bank in India following its merger with five associates and the Bharatiya Mahila Bank. 

State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), State Bank of Patiala (SBP) and State Bank of Travancore (SBT), besides BharatiyaMahila Bank (BMB) merged with SBI with effect from 1 April 2017. 

With the merger, the bank expects its NRI business to grow substantially in the coming years especially from the Gulf and hence the need to set up an exclusive Global NRI Centre which would serve as a one stop support centre, the statement added.  

The Senior Executives of State Bank of India were in Bahrain on 15th April for a customer meet to welcome the NRI customers of its Associate Banks SBT and SBH and also to interact with SBI customers.   

The bank now enjoys a total customer base of approximately 370 million with a branch network of around 24,100 and nearly 59,200 ATMs across the country. The merged entity has a deposit base of more than US$382.79 billion (INR26,00,114 crores) and advances level of US$289.10bn (INR19,63,715 crores). The bank currently processes 6.50 crore transactions daily which will go up to more than 8.00crores per day.

Post-merger, the bank will rationalize its branch network by relocating some of the branches to maximize reach. 

In this regard, the bank officials, during the meeting, said it has initiated the process for the name change of the representative offices of both SBT and SBH in Dubai with the Central Bank of UAE. The approval is expected shortly. Once approved, one of the representative offices will be relocated to Abu Dhabi. 

S. Venkataraman, Chief General Manager, Local Head Office Kerala, R K Mishra, Chief General Manager (PBBU), Corporate Centre Mumbai, H. Sachdev,  General Manager, Local Head Office Kerala, P. K Mishra, General Manager (NRI Services) PBBU, Corporate Centre Mumbai and Joy C Aryakara, Deputy General Manager (PB), Local Head Office Kerala, the Regional Head of State Bank of India, Regional Head Office (MEWANA Region) DIFC Dubai,  TVS Ramana Rao were present at the meeting.