by Suman Gupta
Mumbai, September 12, 2024: State Bank of India (SBI), the country’s largest lender, has sanctioned Rs.10,050 crores to Damodar Valley Corporation (DVC) for Ultra Super Critical Thermal Power Project of 1600 MW (800*2 MW) to be set up at Koderma, Jharkhand.
This project has been identified by Ministry of Power as one of the projects for capacity addition by 2030.
The agreements have been exchanged in the presence of Shri. Ashwini Kumar Tewari, Managing Director, (Corporate Banking & Subsidiaries), Shri. Gulshan Malik and Shri. Amitava Chatterjee, Deputy Managing Directors (Commercial Clients Group), SBI and Shri Arup Sarkar, Member Finance, Shri. Joydeep Mukerjee -ED (Finance), Shri. Durgesh Maiti, Chief General Manager (Finance), Damodar Valley Corporation, Kolkata.
About State Bank of India: State Bank of India is the largest commercial bank in terms of assets, deposits, branches, customers, and employees. It is also one of the largest mortgage lender in the country which has so far fulfilled the home buying dreams of around 30 lakh Indian families. The home loan portfolio of the bank has crossed Rs. 7.39 lakh crore. As of June 2024, the bank has a deposit base of over Rs. 49.01 lakh crore with CASA ratio of 40.70% and advances of more than Rs. 38.12 lakh crore. SBI commands a market share of 26.3% and 19.6% in home loans and auto loans respectively. SBI has the largest network of 22,500+ branches and 62,000+ ATMs / ADWMs in India with close to 83,000 BC outlets. The number of customers using internet banking and mobile banking stand at 128 million and 274 million respectively. With SBI’s digital strategy right on track – the bank witnessed 63% of new savings accounts being opened through the integrated digital and lifestyle platform YONO in Q1FY25. YONO, which has more than 7.76 crore registered users, witnessed 34.9 lakh new YONO registrations in Q1 2025. In terms of digital lending, the bank disbursed pre-approved personal loans worth Rs. 1,399 crores through YONO during Q1 FY25. SBI also has the highest number of followers on Facebook and X amongst all banks worldwide.
