Top Story

e4m_logo.png

Home >> Digital >> Article

SBI and airtel form JV for mobile banking

20-January-2011
Font Size   16
SBI and airtel form JV for mobile banking

The Business Correspondent of SBI sounds more like a newspaper than a mobile banking service, but mobile banking is exactly what this new entity, a joint venture between the SBI and airtel, does. The newly formed entity aims to harness the strengths of the State Bank of India, along with the reach of airtel’s mobile telephony, to add value to the banking and financial services sector.

Speaking on the occasion, SBI Chairman OP Bhatt said, “State Bank of India has always been on the forefront of financial inclusion initiatives, and more than 67 per cent of its network is in rural and semi-urban areas. In the last four years, the Bank has set up more than 15,000 Customer Service Points of Business Correspondents as well as 13,000 Business Facilitators to increase its outreach. The Bank has already reached out to more than 1 lakh unbanked villages.”

Speaking about the new joint venture, he said, “The innovation in mobile telephone will enable the Bank to fulfil its mandate of reaching out to every Indian using airtel’s extensive network to bring banking services in a cost effective and secure manner. This will make banking more inclusive, and carry forward State Bank’s vision of being the banker to every Indian.”

Sunil Bharti Mittal, Chairman and Managing Director, Bharti airtel, said, “This historic collaboration between SBI and airtel brings together two sectors that have made the most impact in addressing inclusive growth. The services offered by the JV will enable financial inclusion and economic empowerment for people across India. This will be a complete game changer, leveraging SBI’s expertise in the banking sector, along with airtel’s 150-million strong customer base and ecosystem of over 1.5 million retailers and distributors across India. Together, we will create a scalable operation that will address the banking requirements of millions of Indians through the mobile platform.”
 

Exchange4media interacted with Jaspreet Chandok, Vice President and Head (Fashion) , IMG Reliance Pvt. Ltd on seamless brands integrations planned for Lakme Fashion Week, walking tall despite blazing trails like GST, demonetization and being a part of the larger cultural space

Their strategy to educate the consumers to make well informed decisions at all stages has worked out well.

Bobby Pawar, MD, CCO - South Asia, Publicis India, talks about his idea of chilling out

The Managing Editor of Public TV gives insights about the struggle the Kannada news channel endured during its nascent stage and what led them forward to the second position that they occupy right now in what is a rather crowded marketplace

The unveiling of the Pitch Madison Advertising Report 2018 event was held on February 15, 2018. Over the years, the report has become a benchmark in the industry. Here are some pictures from the event...

Exchange4media interacted with Jaspreet Chandok, Vice President and Head (Fashion) , IMG Reliance Pvt. Ltd on seamless brands integrations planned for Lakme Fashion Week, walking tall despite blazing...

Jake Dyson, Chief Engineer and Member of the Dyson board, spoke about the innovations and technology that they plan to bring to India