State Bank of Bikaner & Jaipur (SBBJ) has come up with a new concept — the first financial supermarket.

The country’s first such branch in the banking sector was opened today in Jaipur. It will not be the typical bank branch vending traditional deposit and loan products, but a hub offering a basket of diversified products, says SBBJ.

Customers will offered non-standard products such as insurance, both life and general, credit card and mutual fund. The well-equipped, specialised outfit primarily aimed at cross-selling was inaugurated by Shiva Kumar, Managing Director of the Bank at Apex Mall in the Pink City in Rajasthan.

The financial supermarket will primarily sell and service products of its channel partners such as SBI Life, Mutual Fund, SBI General and SBI Card, both across the counters and through electronic means.

This is one more novel initiative from SBBJ, which has put in place SMS Unhappy Service, car loan in 10 minutes, home loan in 20 minutes, Kohinoor banking and mission five, the release said.

(This article was published on August 8, 2012)
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