The facility will provide impetus to the Government of India's drive of covering all eligible citizens under PMJJBY & PMSBY schemes
FinTech BizNews Service
Mumbai, February 16, 2024: State Bank of India, the country’s largest public sector bank, has brought another enabler for its customers towards enhancing convenience in enrolment under PMJJBY & PMSBY schemes.
Sh. Dinesh Khara, Chairman SBI, launched a self-subscribing journey for enrolment under PMJJBY & PMSBY schemes for SBI customers. The functionality enables customers to enroll under the schemes as per their convenience without visiting Branch or Customer Service Point. The customer needs to key in the account number, date of birth on Jan Suraksha portal and to select the Bank. The Certificate of Insurance is generated instantly on payment of premium.
Introducing the service offering, Mr. Dinesh Khara, Chairman, SBI emphasized the bank’s efforts in leveraging technology to boost offerings that ensure customer empowerment and said, “The facility will provide impetus to the Government of India’s drive of covering all eligible citizens under PMJJBY & PMSBY schemes”.
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 the largest mortgage lender in the country which has so far fulfilled the home buying dreams of over 30 lakh Indian families. The home loan portfolio of the bank has crossed Rs. 6.93 lakh crore. As of December 2023, the bank has a deposit base of over Rs. 47.62 lakh crore with CASA ratio of 41.18% and advances of more than Rs. 35.84 lakh crore. SBI commands a market share of 26.5% and 19.5% in home loans and auto loans respectively. SBI has the largest network of 22,400+ branches and 65,000+ ATMs / ADWMs in India with 81,000+ BC outlets. The number of customers using internet banking and mobile banking stand at 125 million and 133 million respectively. With SBI’s digital strategy right on track – the bank witnessed 59% of new savings accounts being opened through the integrated digital and lifestyle platform YONO in Q3FY24. YONO, which has more than 7.05 crore registered users, witnessed 33.1 lakh new YONO registrations in Q3 FY24. In terms of digital lending, the bank disbursed pre-approved personal loans worth Rs. 8, 428 crores through YONO in the same period. SBI also has the highest number of followers on Facebook and Twitter amongst all banks worldwide.
