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SBI contributes Rs. 10 crores to the Armed Forces Flag Day Fund
Bank to sign an MoU with the Kendriya Sainik Board (KSB) to support the education of the children of the armed forces
Bank will provide a grant of Rs. 1000 per month to 8333 war veterans’ children
Mumbai – December 06, 2021: The country's largest lender, State Bank of India, has contributed Rs. 10 crores to the Armed Forces Flag Day Fund in its efforts to support and enable the armed forces of the country. On the occasion of Armed Forces Flag Day celebrated on December 07, SBI has reinforced its constant support to the armed forces by contributing toward children's education. As a part of the bank’s philanthropic responsibilities, SBI will sign an MoU with Kendriya Sainik Board to support and educate the children of war veterans, ex-servicemen, and war widows.
Shri Dinesh Khara, Chairman, SBI, said, “At SBI, we are strongly committed to an inclusive growth, building communities and aligning with the national priorities. Our contribution to the Armed Forces Flag Day Fund, is a humble gesture to support the welfare of the armed forces. We express our gratitude to soldiers who valiantly safeguard our nation and protect its citizens despite facing enormous hardships. We believe our efforts will help make a difference in the lives of the war veterans and their families. SBI has always been at the forefront when it comes to supporting national causes and will continue to do so.”
Last year also, SBI had contributed Rs. 10 crores to Armed Forces Flag Day Fund towards education of girl children of Armed Forces Veterans. Donation was done as a part of “Beti Bachao, Beti Padhao” initiative launched by the GOI.
About State Bank of India:
State Bank of India is the largest commercial bank in terms of assets, deposits, branches, customers, and employees. It is also the largest mortgage lender in the country which has so far fulfilled the home buying dreams of 30 lakh Indian families. The home loan portfolio of the bank has crossed the milestone of Rs. 5 lakh crore. As on September 30, 2021, the bank has a deposit base of over Rs. 38 lakh crore with CASA ratio of 46.24% and advances of more than Rs. 27 lakh crore. SBI commands a market share of nearly 35% and about 28% in home loans and auto loans segment respectively. SBI has the largest network of 22,230 branches and 64,122 ATMs / CDMs in India with 70,786 BC outlets. The number of customers using internet banking and mobile banking stand at 94.4 million and close to 21 million respectively. The integrated digital and lifestyle platform – YONO SBI, has around 43 million registered users, which witnesses 12 million logins per day. Accelerating the digital agenda, in excess of 27,000 new digital savings bank accounts were opened per day in the quarter ended September 2021. In terms of digital lending, the bank disbursed personal loans worth Rs. 43,000 crore through the YONO mobile app till Q2 of FY22. SBI also has the highest number of followers on Facebook and Twitter amongst all banks worldwide.