SBI Current Affairs - 2019

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SBI launches ‘SBI Realty’ portal for home buyers

India’s largest commercial bank State Bank of India (SBI) launched SBI Realty, a dedicated portal that will help home buyers to choose flats from its 3,000 approved projects across the country.

SBI Realty will be a one stop integrated website for home buyers. It will help customers to choose their dream home from 3,000 SBI approved projects, which are spread across 13 states/UTs covering 30 cities.

Key Facts

The SBI Realty portal has been developed by SBICAP Securities in association with PropEquity in terms of data support, project information, etc. At present, the website has 9.5 lakh home units available on it.

Using the portal, customers can compare current and past trends of prices for properties in various localities in the city. It will also assist customers in calculating appropriate loan amount a customer should borrow based on income and credit profile.

About State Bank of India (SBI)

SBI is the largest commercial bank in India in terms of assets, deposits, branches, profits, customers and employees. It has a deposit base of Rs 25.85 lakh crore. It has an extensive network, with over 24 thousand branches in India and 194 overseas offices in 35 other countries.

Five State Banks, Bharatiya Mahila Bank merge with SBI

Five associates and the Bharatiya Mahila Bank have officially merged with country’s largest lender State Bank of India (SBI). With this merger, SBI joins the league of top 50 banks globally in terms of assets.

The five associate banks are: State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore.

Key facts
  • With this merger, SBI’s market share has increased to 22.5-23% from 17% with total business of over 37 lakh crore rupees.
  • The merged entity now has a deposit base of more than Rs. 26 lakh-crore and advances level of Rs 18.50 lakh crore accounting for one-fourth of the deposit and loan market in the country .
  • SBI now has 2.77 lakh employees, 50 crore customers and more than 25,000 branches and 58,000 ATMs. Its total customer base of the SBI now has reached to 37 crore across the country.
  • Post-merger, all the customers of associate banks will now enjoy the benefits of a wide array of digital products and services offered by SBI.

The merger will help SBI to rationalise its branch network by relocating some of the branches to maximise reach. This will also help to optimise its operations and improve profitability. It will also bring in substantial cost saving and synergy in treasury operations. Moreover, the combined entity will enhance the productivity, mitigate geographical risks, increase operational efficiency and drive synergies across multiple dimensions of the SBI.