SBI Announces New Initiatives to Reduce Agriculture Loan Risks SBI Agriculture Loan Initiatives:

On Thursday, the largest lender in the country, SBI, unveiled 11 new initiatives aimed at reducing risks in its agricultural loan portfolio. These initiatives include bolstering its digital banking services and establishing 35 new Agricultural Central Processing Cells.

On its 69th Foundation Day, the State Bank of India announced 11 new initiatives to reduce risks in its agricultural loan portfolio, strengthen digital banking services, and introduce features such as tap-and-pay on the BHIM SBI PAY app and digital loans against mutual funds on the YONO app.

Additionally, SBI introduced a fully digital process for the SBI Surya Ghar Loan, offering loans for up to 10 KW of capacity to install solar rooftops under the PM Surya Ghar Scheme, managed on SBI’s digital platform.

Applying for the loan and managing the entire process will be done through SBI’s digital platform, from registering on the MNRE/REC portal to receiving the loan.

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SBI opened a second Global NRI Centre (GNC) in Patiala, Punjab, to better serve NRI clients, with Chairman Dinesh Khara inaugurating the new center on Bank Day. SBI has Global NRI Centers (GNCs) that show the bank's strong commitment to building connections with the global Indian community.

“These centers serve as hubs of excellence, providing specialized services to NRI customers. With a network of 434 specialized NRI branches in India, foreign offices in 29 countries, and partnerships with 45 exchange houses and 5 banks in GCC countries, SBI is well-equipped to offer comprehensive services to its NRI clientele worldwide,” the statement said.

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SBI has opened updated branches in High Courts to better serve the legal community. They offer customized financial solutions for lawyers and legal professionals. The bank has improved the transparency of home loan processing. Borrowers will now receive automated email and SMS notifications about the status of their loan application at different processing stages to enhance customer satisfaction and convenience.

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