SBI allocates Rs. 70 Crore to combat the

 SBI allocates Rs. 70 Crore to combat the 2^nd wave of COVID-19

·         The Bank allocates Rs. 30 Crore for setting up 1,000 bed makeshift hospitals for COVID-19 patients in some of the worst affected states

·         Additional sum of  of Rs. 21 Crore has been allocated to Circles to support initiatives at the local level by way of life-saving healthcare equipment, oxygen supply to hospitals, COVID-19 care centres, ambulances to transport COVID-19 patients, PPE kits, masks, providing food relief, etc.

·         The Bank to spend Rs. 10 Crore to supplement the Government’s efforts in genome-sequencing

·         Apart from this, Rs. 10 Crore will be earmarked to partner and collaborate with on-ground NGOs to address the community needs

·         The Bank will continue to serve citizens through its extensive network of over 22,000 branches

 

True to its vision and mission to support the country in fighting with adverse situations, State Bank of India (SBI) has allocated Rs. 71 Crore, to undertake various support initiatives to help the country combat the second wave of COVID-19. The Bank has dedicated Rs. 30 Crore to setup 1,000 bed makeshift hospitals, 250 bed ICU facilities and 1,000 bed isolation facilities across some of the worst-hit states. These facilities would be set up in collaboration with government hospitals and Municipal Corporations of the respective cities.

 

SBI is in talks with various designated authorities to explore partnerships for setting up makeshift hospitals. The Bank will also contribute Rs. 10 Crore for genome-sequencing equipment / lab and vaccine research equipment / lab to the Government. 

 

Additionally, SBI has allocated Rs. 21 Crore to all its 17 Local Head Offices to address the urgent medical needs of the citizens including procuring life-saving healthcare equipment and enhancing the oxygen supply to hospitals. Bank will continue to provide PPE kits, masks, rations and cooked meals. The Bank will also spend Rs. 10 Crore in partnering with NGOs to undertake community-based testing, strengthening vaccination drives, creating helpline for COVID-19 related matters, providing oxygen supply and other critical activities.

 

Shri. Dinesh Khara, Chairman, SBI said, "We are trying our best to make a small contribution to society in the fight against the second wave. We are committed to contribute funds, resources and reach out to the citizens of India and also join in the Government’s efforts in fighting the virus. I urge everyone to offer their support in any form to the people in need and contribute towards making the country COVID-19 free.”

 

SBI has tied with various hospitals for the vaccination of its employees. The Bank has also decided to bear the cost of vaccination for its employees and their dependent family members. The Bank has also converted 60 of its training centres across the country into isolation/Quarantine centres for affected employees and their family members

 

Last year, SBI had pledged 0.25% of its annual profit to fight the coronavirus outbreak in India and has donated over Rs. 108 Crore to the PM CARES Fund. In addition, SBI has also contributed Rs. 11 Crore toward supporting the vaccination drive of the government.

SBI raises additional USD 1 billion untied loan with

SBI raises additional USD 1 billion untied loan with JBIC

 

·         SBI signed a loan agreement of USD 1 billion with Japan Bank for International Cooperation (JBIC), taking the total facility to USD 2 billion, including USD 1 billion which was signed last year in October 2020

·         The virtual signing ceremony event was held in the presence of Mr Dinesh Khara, Chairman (SBI) along with senior executives of SBI, Mr. Hayashi Nobumitsu, Deputy Governor (JBIC) and Mr. Ayukawa Kenichi, CEO & MD (Maruti Suzuki)

·         The loan is in the form of refinance against the funding support provided to the manufacturers, suppliers and dealers of Japanese automobiles in India, whose business activities are recovering from reduced sales of automobiles due to the COVID-19

·         The financing will assist in Government of India’s ‘Make in India’ initiative

Country’s largest commercial bank, State Bank of India (SBI) has signed a loan agreement amounting to up to USD 1 billion with JBIC. SBI has signed a similar deal with JBIC in October 2020.

 

The loan is intended to promote smooth flow of funds for the whole range of business operations of Japanese automobile manufacturers in India.

 

JBIC is a policy-based financial institution, wholly owned by the Japanese government, with the objective of contributing to the sound development of Japan, the international economy and society.

 

On the occasion of signing the agreement, Mr Dinesh Khara, Chairman, SBI said “Covid 19 crisis has delivered a significant shock to global trade, disrupted production lines and depressed global demand. At a time when people are preferring personal mode of transport, this collaboration between SBI and JBIC will help the bank in extending loan facility to entire supply chain of Japanese automobile industry including suppliers, dealers and ultimately to the end users.”

 

Mr Ayukawa, MD & CEO, Maruti Suzuki said, “Maruti Suzuki is making efforts to balance between the environmental friendliness of our vehicles and our customer’s need. The special support for our environment friendly vehicles will accelerate Suzuki group’s initiative towards environmental care”.

SBI commits Rs. 11 crores to

 SBI commits Rs. 11 crores to support GOI’s COVID-19 vaccination drive

 

In order to support next phase of government’s COVID-19 vaccination drive, State Bank of India (SBI) has decided to contribute Rs. 11 crore to the PM CARES Fund.

 

Dinesh Khara, Chairman, SBI said, “It is at times of adversity that the true form of unity is tested, and we all can take pride in the efforts that our nation has put in to fight the pandemic. The fight against the pandemic is not yet over, and as a responsible Corporate Citizen, we consider it our duty to support the government's efforts to vaccinate all. I request everyone to come forward and help in whatever way they can to ensure a successful vaccination drive.”

 

Early last year, SBI had committed 0.25% of its annual profit to support the fight against COVID-19 and also made significant contribution in the form of supply of masks, sanitizers among others to the needy. Additionally, SBI employees in their effort to support the nation in the unprecedented times had contributed Rs. 107 crores to the PM CARES Fund.

 

SBI bags two Brandon Hall Technology Excellence Awards for

 SBI bags two Brandon Hall Technology Excellence Awards for
‘e-RBC’ & ‘e-Gyanshala’ Learning Initiatives

·         Bank has won two prestigious Brandon Hall Technology Excellence awards for rolling out these unique learning initiatives benefitting 2 lakh employees

·         The technology based learning initiatives developed internally enable Bank’s employees to undertake Learning anytime anywhere.

The country’s largest lender State Bank of India (SBI) has won two Brandon Hall Technology Excellence Awards for its “e-RBC” and “e-Gyanshala” initiatives that benefit more than 2 lakh employees.

SBI has won these awards in two categories viz. Best Advance in Technology for Crisis Management for “e-RBC” Initiative and Best Advance in Social Learning Technology for “e-Gyanshala” Initiative.

Commenting on the occasion, Dinesh Khara, Chairman, SBI said, “This honour has been bestowed upon SBI in recognition of the technology initiatives introduced by the Bank towards upskilling and knowledge upgrade of its employees. In the present challenging circumstances where the COVID-19 pandemic has prevented conduct of regular classroom training at the Bank’s extensive training network, SBI took the challenge as an opportunity to create technology driven tools for giving a seamless learning experience to its employees from anywhere anytime. As the Banking sector is experiencing constant changes, fuelled by innovative products & services by Fintechs, new entrants, resultant growth and evolution of customer expectations, the Bank recognizes the need to be on its toes and continuously upskill to meet the challenges that lie ahead.”

SBI developed the e-RBC technology initiative entirely in-house for online delivery of its Role Based Certifications programs for its more than 2 Lakh employees, as the physical training programs could not be held due to travel restrictions and social distancing considerations on account of COVID-19 pandemic. The e-Gyanshala Initiative is another marquee learning initiative of SBI, for providing gamified engaging e-learning to its employees, and a repository of knowledge and a solution to their queries related to day to day Banking.

The Brandon Hall Excellence Awards, also known as the Academy Awards of Learning & Development, recognize the best organizations that have successfully deployed programs, strategies, modalities, processes, systems, and tools to achieve measurable results.

Dinesh Kumar Khara takes charge as

Dinesh Kumar Khara takes charge as Chairman of SBI

Mr. Dinesh Khara took charge as the new Chairman of State Bank of India (SBI), with effect from October 7, 2020, for a three-year term. Prior to his new role, Mr. Khara was serving the bank as Managing Director, Global Banking & Subsidiaries. He succeeds Mr. Rajnish Kumar, who demitted office on October 6, 2020.

Mr. Khara has over three and a half decades of rich and diverse experience in all facets of banking such as Retail, Corporate Credit, and International Banking. As Managing Director, Mr. Khara was instrumental in successfully executing the merger of SBI with its five Associate Banks and Bhartiya Mahila Bank that made the bank join the league of top 50 banks globally.

Mr. Khara has also served SBI Funds Management Pvt. Ltd. (SBIMF) as MD and CEO prior to his appointment as Managing Director at SBI. Under his leadership, SBI MF went on to become the 5th largest Mutual Fund company in India.

 

Joined as a Probationary Officer in 1984 Mr. Khara has held several key positions at SBI. As Chief General Manager - Bhopal Circle, Mr. Khara managed around 1400 branches and handled deposits and advances portfolio of over Rs 1.5 lakh crores. He has also had a stint in the Overseas Expansion wing of International Banking Group where he worked at SBI’s Chicago office and was associated with the overseas acquisition of Indian Ocean International Bank Mauritius (now SBI Mauritius) and PT Bank Indomonex( now SBI Indonesia)

Another crucial position held by him includes General Manager in Associates and Subsidiaries department of SBI Corporate Centre, where Mr. Khara worked closely on operational and strategic issues of various non-banking subsidiaries of SBI.

Mr. Khara holds a Masters in Business Administration and is a post-graduate in Commerce. He is also a Certified Associate of Indian Institute of Bankers (CAIIB).

 

Ashwini Bhatia takes charge

Ashwini Bhatia takes charge as MD of SBI

Mr. Ashwani Bhatia took charge as the Managing Director of the country’s largest lender, State Bank of India (SBI). He would be holding this position up to the date of his superannuation that is May 31, 2022. Mr. Bhatia will be the fourth MD of SBI with Mr. Dinesh Khara, Mr. Arijit Basu, and Mr. C S Setty being the other three. He would be responsible for the IT and Stressed Assets Resolution Group (SARG) in this new role.

Prior to his appointment as MD, Mr. Bhatia was MD & CEO of India's largest Asset Management company, SBI Funds Management Pvt Limited. Mr. Bhatia comes with rich experience of over three and a half decades in the State Bank Group. Before joining SBI Funds Management Private Limited, he was working as a Chief General Manager, Corporate Centre in SBI, where he was responsible for revamping of credit structure and processes of the Bank.

Mr. Bhatia started his career with SBI in 1985 as a probationary officer. Some of his key positions in the bank include Chief General Manager- SME,  General Manager (Heading retail operations of Haryana, HP, Jammu & Kashmir, Punjab, and Chandigarh), and various others in Network Banking, Credit, Investment Banking and Asset Management. He has spent more than a decade in the Bank's treasury holding position as DGM (Forex), DGM (Interest Rates), AGM & Chief Dealer in the equities market. Mr. Bhatia has also had a stint with SBI Capital Markets as President & COO, Whole-time Director for over two years.

Mr. Bhatia is a Graduate in Physics & Mathematics from Dayalbagh, Agra, and is an MBA from Podar Institute of Management, Jaipur. His areas of interest include photography, road trips, experiencing diverse cultures, food & cuisine, and geopolitics.