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In another boost awareness to technology, country’s largest lender State Bank of India said it aims to increase its transactions through alternate channels to 85 per cent.
At present, of the 370 million transactions originated by SBI customers per month, “About 65 per cent is through alternate channels, most of it through ATMs and our aim is to increase it to 85 per cent in one year,” said Arundhati Bhattacharya, Chairman and Managing Director, SBI on the launch of its technology banking initiative.
SBI on Friday announced opening of 385 Tech Learning Centres where the bank’s well equipped and tech savvy staff will teach the bank’s tech channels to about 15,000 customers including the bank staff.
“We will have sessions from 4-6 pm on the third Friday of every month across 14 circles and try to do it at those branches with all the technology including pass book printer, ATM machine, POS machine and give practical demonstrations to the customers,” Bhattacharya said.
SBI opens 1.7 lakh accounts everyday.
FII limit in G-Secs
On asking if there is a need to hike FII limit in government securities (G-Secs) from the current limit of $30 million.
“Am sure the central bank is looking at hiking it but they (RBI) also look at macro indicators before changing it,” Bhattacharya said.
Re volatility impact on unhedged forex exposure
The SBI chief said, at this time “no need to press the panic button”.
“We always ask our clients to hedge but no one hedges completely. Hopefully all our clients have sensibly hedged with whatever are the immediate requirements.”
She said there could be timing mismatches but it is difficult to assess the impact due to the rupee depreciation right now as the figures need to be checked every quarter.
On the corporate credit growth, Bhattacharya said “it is very gradual and slowly picking up”.
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