State Bank of India launches ‘Transaction Banking Hubs’ for efficient solutions

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Central Bank of India (SBI) has launched 34 transaction banking centers in the top 21 district centers across the country to provide customers with fast and efficient transaction banking solutions.

India’s largest bank said, in a statement, that its aim is to cater to all customers’ needs and provide comprehensive solutions for transaction, payment and collection requirements under one roof.

“The newly launched hubs will be staffed by product specialists who will also assist business clients in their other financial services needs by leveraging the ‘Power of One’ within the SBI Group by enabling seamless connectivity with other business segments and subsidiaries,” According to a statement.

Dinesh Kumar Kara, Chairman, who launched Transaction Banking Centers on the 68th foundation day of SBI, confirmed the successful turnaround by onboarding more than 2,000 Current Account (CA) customers on renewed CA variants.

These variants offer attractive concessions on consolidated transaction banking services. In addition, during the pre-launch campaign in June 2023, the bank mobilized more than Rs 1,000 crore deposits in these centres.