New TAB-based process offers real-time account activation and paperless convenience at domestic and select international locations
FinTech BizNews Service
Mumbai, 1 January, 2025: State Bank of India (SBI), the country’s largest bank, has announced the launch of a TAB-based end-to-end digital on-boarding process for Non-Resident Indians (NRIs) to streamline the opening of NRE (Non-Resident External) and NRO (Non-Resident Ordinary) accounts. This initiative was inaugurated by SBI Chairman, Shri Challa Sreenivasulu Setty and has been made available across SBI branches in India and select foreign offices, employing digital tools to enhance the efficiency and convenience of account opening.
The initiative eliminates the need for physical paperwork, enabling a faster account opening process both at branches and during customer visits by digitally verifying documents, thereby making the process more efficient and convenient.
eaking on the launch, Shri Challa Sreenivasulu Setty, Chairman, SBI, highlighted the transformative potential of the solution, stating, “The introduction of TAB-based end-to-end digital NRI account on-boarding journey represents a significant stride in leveraging cutting-edge technology to redefine customer convenience. This end-to-end digital solution will drastically reduce the turnaround time and delivering a truly seamless digital experience.”
This solution underscores SBI's enduring commitment to banking excellence as well as innovation. By seamlessly integrating technology into its services, the bank not only empowers and meets customers' expectations, but also sets new standards for global banking efficiency and accessibility.
