State Bank of India (SBI), the country’s largest lender which figures at rank 152 on the Forbes Global 2000 list of the world’s biggest and best companies, will begin discussions with the government on additional capital after it declares its results on May 22. Alongside, the bank has decided to undertake a serious digital push as it seeks to increase income.
I don't believe that SBI can ever reinvent itself as a modern bank given the legacy they carry both in terms of employee in the bank who swear by paper based documents and technology only to aid paperwork than to eliminate it. To give you just one small example - My father passed away a couple of months back. He has saving and time deposits with SBI and when I went to the bank to know how i can get the name changed and get things online; I was directed to the branch manager and he handed over to me bunch of documents that will take ever for me to complete. In short unless they re-invent every process in the bank along digital lines it is impossible to make them any modern.
on May 21, 2015