SBI's Good News! New Plans for Depositors

As part of its efforts to attract more depositors, the State Bank of India (SBI) is set to introduce innovative schemes like Recurring Deposits and Systematic Investment Plans (SIPs). SBI Chairman, C.S. Shetty, stated that the bank is taking steps to cater to customers seeking diverse investment options, particularly those aiming for financial growth.

With the growing economy, more people are focusing on savings and investments. However, every investor desires profitable returns. Many prefer investment options that offer high returns with minimal risk. Recognizing this trend, SBI aims to introduce new banking services tailored to such customers, Shetty explained.

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SBI is considering launching a new service that combines Fixed Deposits, Recurring Deposits, and SIP investments to offer customers a balanced portfolio. These innovations are specifically designed to attract younger customers, particularly the Gen Z generation, he added.

In addition to increasing deposits, SBI is also planning to expand its network across the country. Shetty emphasized that customer service and interest rates play a crucial role in deposit collection. Therefore, SBI is focused on offering competitive interest rates along with superior customer service. He also mentioned that SBI has made significant progress in digital banking and is currently opening 50,000 to 60,000 new savings accounts daily.

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