How is SBI Celebrating Its 70th Year with a Record Balance Sheet of Rs 66 Lakh Crore?

Mumbai, July 1 (NationPress) The State Bank of India (SBI), recognized as the largest financial institution in the nation, is marking its 70th anniversary with a remarkable balance sheet that has reached Rs 66 lakh crore and a customer base exceeding 52 crore.

Since its establishment in 1955, SBI has transformed from a supporter of India’s initial development objectives to a pivotal player in the country’s digital and green economy.

To spearhead India’s shift towards renewable energy, SBI’s Solar Rooftop Programme aims to equip four million homes with solar energy by FY2027, supporting India’s goal of achieving Net Zero by 2070, as stated by SBI.

Additionally, SBI has revealed plans to enhance its Trade Finance operations through digitalisation, standardisation, and centralisation. A new hub in Kolkata will cater to branches nationwide, ensuring prompt and efficient service.

On an international scale, with 244 overseas offices across 55 countries, SBI has been recognized as the 4th Most Trustworthy Bank Globally by Newsweek (2024) and awarded the title of Best Bank in India 2024 by Global Finance Magazine.

Central to SBI’s long-term strategy is the expansion of its Project Finance & Structuring Strategic Business Unit (PF&S SBU), which is crucial in financing large infrastructure projects and emerging sectors like renewable energy, e-mobility, data centres, semiconductors, green hydrogen, decarbonisation, and smart infrastructure. SBI is also establishing a Centre of Excellence to guide advancements in these sectors, deemed an “asset of national importance,” according to the bank's announcement.

SBI promotes financial inclusion with over 151 million Jan Dhan accounts and a vast correspondent network. Its agricultural lending surpassed Rs 3.5 lakh crore in FY25, the highest in the nation, aiding farm infrastructure.

In FY2025, SBI reinforced its social impact by allocating Rs 610.8 crore to CSR projects, benefiting 94 Aspirational Districts in areas such as healthcare, education, rural development, and environmental sustainability.

Digital transformation is at the core of SBI's strategy, with 98.2% of transactions conducted via digital channels and more than 8.8 crore YONO users. SBI has also implemented its Business Rule Engine (BRE) to expedite SME loans up to Rs 5 crore, facilitating Straight Through Processing. By March 2025, SBI had sanctioned over 93,900 loans totaling Rs 47,789 crore through BRE, as stated.

SBI is leveraging Gen AI, Big Data, predictive analytics, and LLMs to tailor customer experiences. Over 25,000 ATMs will be upgraded in FY2026, supported by the forthcoming Data Lakehouse Project, which will provide real-time AI insights across the bank’s operations.

SBI Chairman C.S. Setty commented, “As India enters a new era of growth and opportunity, SBI is laying the groundwork for the future of banking -- one that is digital at its core, inclusive in its approach, and sustainable in its impact. As reiterated in our press release on July 1, 1955, our policy will continue to be guided by the ideal of advancing the interests of our customers and those of the nation, both now and in the future.”