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State-owned State Bank of India has said the banking sector will play a key role in supporting India’s long-term economic growth, infrastructure expansion, entrepreneurship, and financial inclusion as the country moves towards its Viksit Bharat vision. SBI Chairman C S Setty highlighted the bank’s focus on technology-led banking, artificial intelligence, cybersecurity, and digital infrastructure while continuing to strengthen its physical branch network. The lender also plans to expand digital onboarding, transaction banking, SME-focused services, and wealth management offerings as part of its next phase of transformation.
State Bank of India Chairman C S Setty said the banking sector is expected to play a major role in supporting India’s Viksit Bharat vision by mobilising capital, encouraging entrepreneurship, supporting infrastructure creation, and improving financial inclusion across the country. Advertisement
In his message to shareholders published in the bank’s annual report released on Wednesday, Setty said SBI, being the country’s largest lender, recognises both the opportunity and responsibility that comes with supporting India’s growth ambitions and remains committed to contributing to the country’s economic expansion.
He stated that the bank’s strategic priorities will continue to remain focused on a “Digital First, Customer First” approach. According to him, SBI will continue investing in technology, data analytics, artificial intelligence, cybersecurity, and digital infrastructure to build a more agile and responsive banking ecosystem.
Setty said the previous financial year marked an important phase for the bank as it strengthened its position across major business segments while continuing its transition into a technology-driven and customer-focused financial institution. He added that the next phase of transformation will focus on offering more personalised, seamless, and intuitive banking experiences across customer segments and service channels.
At the same time, he noted that physical banking would continue to remain an important part of SBI’s relationship-led banking model. He said the bank aims to combine the strength of its branch network with the convenience and speed of digital platforms to create a stronger omni-channel banking experience for customers.
SBI also plans to continue simplifying internal processes, improving turnaround times, and enhancing customer service standards through innovation and operational improvements. Setty said initiatives under Project SARAL will remain important in this transition through process re-engineering, standardisation, digital integration, automation, and increased use of artificial intelligence.
The chairman further said strengthening the liability franchise and improving customer engagement will remain among the bank’s key strategic priorities. He pointed to opportunities in digital onboarding, transaction banking, SME ecosystems, and relationship-based banking solutions. The bank’s focus, he added, would remain on building a stable and low-cost deposit base while strengthening customer trust and loyalty.
The lender is also looking at expanding its wealth management business and advisory-led relationship services by using technology-enabled engagement models to deepen customer relationships across segments.
Setty stated that SBI’s long-term vision is to build a future-ready institution that balances technological leadership with customer trust while maintaining business growth alongside social responsibility.
He also highlighted that human capital will continue to remain central to the bank’s transformation journey, while risk management and governance will remain core elements of its growth strategy.
SBI has been steadily increasing its digital banking presence over the past few years through platforms such as YONO, expansion in digital lending, and technology-led banking services. The bank has also been focusing on improving operational efficiency and widening access to banking services across urban and rural markets as competition in India’s banking and fintech sector continues to grow.
Source PTI
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