SBI donates Rs. 1 crore to the Mumbai Police Foundation

by Suman Gupta

Mumbai – March 16, 2021: In its continuous endeavor to support the nation’s efforts and the COVID warriors from the strains of the pandemic, the State Bank of India (SBI) has donated Rs. 1 crore to the Mumbai Police Foundation. The occasion was marked by Shri Dinesh Khara, Chairman, SBI who handed over the cheque to Mr. Param Bir Singh, Commissioner, Mumbai Police at the Corporate Centre, Mumbai in the presence of Managing Directors – Shri CS Setty, Shri Ashwani Bhatia, Shri J. Swaminathan and Shri A.K Tewari along with Shri Rana Ashutosh Kumar Singh, DMD – HR & Corporate Development Officer. The funds will be utilized for the welfare of deceased police personnel’s families of Mumbai Police.

Shri Dinesh Khara, Chairman, SBI said, “It is said that adversity introduces a man to himself. That thought is bought to reality by our nation’s COVID warriors and the efforts they made to battle through the pandemic. It is commendable to see how every police personnel sacrificed their safety to ensure the nation is safe, that we are safe. As responsible corporate citizen of the nation, we must commemorate the service that was rendered to us and the supreme sacrifice. We must continue observing the safety measures necessary to control the spread of the pandemic and support the efforts of Police.”

Earlier this month, SBI contributed Rs. 11 crore to the PM Cares Fund, to support GOI’s COVID-19 vaccination drive. Last year, SBI committed 0.25% of its annual profit to support the fight against COVID-19 and made a significant contribution by supplying masks, sanitizers among others to the needy. The bank’s employees in their effort to support the nation through unprecedented times, had also contributed Rs. 107 crores to the PM CARES Fund.

About State Bank of India (SBI):State Bank of India is the largest commercial bank in terms of assets, deposits, branches, customers, and employees. It is also the largest mortgage lender in the country. The home loan portfolio of the bank has crossed the milestone of Rs. 5 lakh crore. As on December 31, 2020, the bank has a deposit base of over Rs. 35 lakh crore and advances of more than Rs. 26 lakh crore with CASA ratio of about 45%. SBI commands over 34% market share in home loans and around 33% in the auto loans segment. The Bank has largest network of more than 22,000 branches in India with an ATM / CDM network of nearly 58,000 and total BC outlets of over 71,000. The number of customers using internet banking and mobile banking stand at 85 million and 19 million respectively. The integrated digital and lifestyle platform by SBI – YONO has crossed 74 million downloads mark. YONO which has over 34.5 million registered users, witnesses 9 million logins per day. Accelerating the digital agenda, SBI has opened over 1.5 million accounts through YONO in the quarter ended December 2020 with nearly 91% of YONO eligible savings bank customers migrated on YONO. In terms of digital lending, bank disbursed pre-approved personal loan (PAPL) worth Rs. 5300 crore via YONO in the same quarter. YONO is also a global name having tasted its success in international markets as well. On social media platforms, SBI has the highest number of followers on Facebook and Twitter amongst all banks worldwide.