India’s TOP 500 Companies 2020

INDIA’S TOP 500 COMPANIES 2020 169 Advertorial Recent Developments of SBI • SBI’s total assets grew by 7.4% y-o-y to ` 39.5 tn at the end of March 2020. Investments rose by 8.3% y-o-y to ` 10.5 tn at the end of March 2020. Reportedly, a major portion of the investment was in the domestic market in government securities • The bank has maintained its robust CASA ratio at 45.2% in FY20 • As on 31st March 2020, the retail and digital banking group was SBI’s largest business vertical, constituting 94.1%of total domestic deposits and 58.1% of total domestic advances • YONO, the flagship digital app for retail customers recorded more than 46 mn downloads and approximately more than 21 mn registrations till March 2020. YONO offers ‘LifeStyle & Banking’ experience, with more than 31 products and 40 services, along with five JV partners. In 2020, YONO Global is scheduled to be rolled out across more than 10 geographies • In FY20, SBI launched near-real time outward remittance facility (from NRE accounts) to 209 overseas destinations through internet banking in five international currencies namely, USD, EUR, GBP, SGD and AUD with a daily ceiling of ` 1 mn or equivalent • As on 31st March 2020, SBI has approximately 3.7 mn NRI customers, who are being catered through 83 dedicated NRI branches in India, foreign offices in 32 countries, 227 Global Banks as Correspondent Banks and tie-ups with 55 exchange houses and six Banks (in the Middle-East) to facilitate remittances • As onMarch 2020, SBI has 58,555ATMs including Automated Deposit and Withdrawal Machines (ADWMs) • During FY20, SBI added nine foreign offices and 23 offices of overseas subsidiaries • SBI has sponsored 15 Regional Rural Banks (RRBs) operating at regional levels in 15 different states. These RRBs have a combined branch strength of 5,318 in number spread across 226 districts as on 31st March 2020 • In FY20, SBI made 40 new dealer finance tie-ups with corporates namely, OPPO Mobile, Bosch Ltd, Hero Electric, ITC Ltd, Dabur Ltd, International Tractors Ltd, Ultra Tech Cement, Jindal Stainless Hisar Ltd among others • In FY20, SBI received the Outstanding Performance in Sikkim, as Sponsor Bank, for timely wage payments of MGNREGA from the Ministry of Rural Development. SBI was also awarded the first prize for opening the largest number of Sukanya Samriddhi Accounts amongst all Banks (Pan India) • In 2019, received the ‘Best Transaction Bank’ & ‘Best Payment Bank in India’ award and was a recipient of the ‘The Best Trade Finance Bank (India)’ award for the eighth consecutive year by Global Finance Magazine. Dun & Bradstreet