SBI Chairman: Banking sector key to India's Viksit Bharat goal
Synopsis
SBI Chairman C S Setty has placed India's largest bank at the centre of the Viksit Bharat project — committing to capital mobilisation, infrastructure lending, and a digital-first overhaul. With FY26 flagged as a landmark year, the remarks signal that SBI sees its transformation as inseparable from India's 2047 development ambition.
Key Takeaways
SBI Chairman C S Setty addressed shareholders on 27 May 2025 in the bank's annual report.
Setty identified capital mobilisation, infrastructure support, entrepreneurship, and financial inclusion as banking's four roles in the Viksit Bharat vision.
SBI will invest in AI , data analytics , cybersecurity , and digital infrastructure as part of its 'Digital First, Customer First' strategy.
FY26 was described as a landmark year for the bank's technology-driven transformation.
The bank aims to integrate its branch network with digital platforms to deliver an omni-channel banking experience.
State Bank of India (SBI) Chairman C S Setty on Wednesday, 27 May said the banking sector will play a transformative role in India's journey toward Viksit Bharat, citing capital mobilisation, infrastructure support, entrepreneurship, and financial inclusion as the four pillars of that contribution. Setty made the remarks in his address to shareholders published in the bank's annual report.
What Setty Said
'As India progresses towards the vision of Viksit Bharat, the banking sector will play a transformative role in mobilising capital, enabling entrepreneurship, supporting infrastructure creation, and accelerating financial inclusion,' Setty stated.
He added: 'As the country's largest bank, we recognise both the opportunity and responsibility that comes with this role and remain committed to supporting India's growth aspirations.'
SBI's Strategic Priorities
Setty outlined the bank's forward roadmap as firmly anchored in a 'Digital First, Customer First' approach. He said SBI would continue investing heavily in technology, data analytics, artificial intelligence, cybersecurity, and digital infrastructure to build a more agile and responsive banking ecosystem.
Describing FY26 as a landmark year, Setty said the bank had strengthened its leadership position across key business segments while accelerating its transformation into a technology-driven, customer-centric institution.
Omni-Channel Vision
'The next phase of our transformation will focus on delivering deeply personalised, seamless, and intuitive banking experiences across all customer segments and channels,' Setty explained. He underlined that physical banking remains central to SBI's relationship-led model, with the bank aiming to integrate its branch network with digital platforms to create a truly omni-channel experience.
Why It Matters
Setty's remarks come as the Centre pushes an ambitious agenda to make India a developed economy by 2047. With SBI commanding the largest balance sheet among Indian lenders, its strategic direction carries outsized weight for credit flow to infrastructure, small businesses, and underserved populations. Notably, financial inclusion and digital banking have emerged as recurring themes in the government's economic policy framework, making SBI's alignment with the Viksit Bharat roadmap both a commercial and a policy signal.
Point of View
No financial-inclusion metrics, no AI deployment timelines. For India's largest lender, aspiration is not a strategy. The real test will be whether SBI's digital investments translate into meaningful rural credit penetration and SME lending — the two areas where the gap between India's banking ambition and its ground reality remains widest.
NationPress
2 Aug 2026
Frequently Asked Questions
What did SBI Chairman C S Setty say about Viksit Bharat?
Setty said the banking sector will play a transformative role in India's Viksit Bharat journey by mobilising capital, supporting infrastructure, fostering entrepreneurship, and accelerating financial inclusion. He made the remarks in his address to shareholders in SBI's annual report on 27 May 2025.
What is SBI's digital strategy going forward?
SBI's strategy is centred on a 'Digital First, Customer First' approach, with continued investment in technology, artificial intelligence, data analytics, cybersecurity, and digital infrastructure. The bank also aims to integrate its branch network with digital platforms for an omni-channel experience.
Why is SBI's role important for India's Viksit Bharat vision?
As India's largest bank by balance sheet, SBI's lending and inclusion priorities directly influence credit flow to infrastructure projects, small businesses, and underserved communities. Its alignment with the Viksit Bharat agenda carries significant weight for both financial markets and policy outcomes.
What did Setty say about FY26 for SBI?
Setty described FY26 as a landmark year in which SBI strengthened its leadership across key business segments and advanced its transformation into a technology-driven, customer-centric institution.
Will SBI reduce its physical branch presence in favour of digital banking?
No. Setty underlined the continued importance of physical banking in SBI's relationship-led model, stating that the bank intends to integrate branch strength with digital convenience rather than replace one with the other.
