Wednesday, July 2, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Banking & Finance

Technology impacts positive, productivity raised

Fiinews by Fiinews
January 6, 2020
in Banking & Finance, Economy, Industry Sectors, Investment, Technology
Reading Time: 2 mins read
A A
0
0
SHARES
10
VIEWS
LinkedinShare on Twitter

0:00

Fintech competition noted

 

SBI.

 

Technology is definitely impacting positively and raising the productivity hugely, with which the credit cost will come down and that benefit will be passed onto corporate clients.

Assuring this, the State Bank of India Chairman Rajnish Kumar pointed out that India is not far behind in adoption of technology.

“If you look at it, India is not far behind in adoption of technology, which in turn is enhancing the overall productivity. Unless our productivity goes up, we can’t compete at the global level,” Kumar said at the first edition of “FICCI Dialogue for Actionable Insights?” held in Hyderabad on 4 Jan 2020.

“I believe in India’s vision for sure, on account of its demography, adoption of technology and the productivity, but there are several issues which needs to be sorted out before we realize our full potential.”

Speaking on “Outlook on the Indian Economy”, he noted complaints about high rate of interest, and pointed out that one of the contributing factors is high a default ratio and a high loan loss ratio. The banks have to recover the credit cost and all that gets loaded to the customer.

Noting the technologies’ role in shaping global economies, he acknowledged new competitors in the form of Fintech, which are bringing in lot of innovation.

“So, a historic or a legacy bank like us has to respond to the rapid changes that are taking place. Some satisfaction is (that) we have been able to match that.”

For consumers, SBI has a state-of-the-art offering in the form of YONO.

Over the last two year, SBI has focused on retail banking and have 1.7 crores registered users, said Kumar, observing a huge shift from internet banking to mobile banking.

“We, as a banker, view corporate not just as a client but as a large ecosystem comprising of various stake holders associated with it.

“We want to be an integral part of the entire ecosystem and tap the complete structure. Our focus with Corporate Banking is no more lending money alone, the performance criteria is how much we are helping the ecosystem around the corporate,” said Kumar.

He was also happy to note MSME sector getting more and more formalized, calling it as a positive sign of Goods and Services Tax (GST) and demonetization.

Today, the availability of data on MSME is much more and that enables banks to lend loans in an easy manner end to end, loans up to Rs.5 crores is now possible, he assured.

After 31 January 2020, this loan will be raised to Rs.100,000 crore with digitized application. There will be no paperwork and no manual interference, he added. fiinews.com

Tags: FICCISBI
ShareTweetShare

Related Posts

Matrix Logo 180x
Technology

Tech: Military-grade integrity for digital space

by Fiinews
July 1, 2025
0
12

Army veteran launches eSIMS for travellers Maj Gen Manjit Singh Duggal, VrC (Retd), who was awarded the Vir Chakra for...

Satsure Dhruva Space
Technology

Tech: SatSure-Dhruva Space to work on value chain

by Fiinews
July 1, 2025
0
14

Collaboration for building sovereign Space ecosystem Bengaluru-based SatSure and Hyderabad-based Dhruva Space have formed a strategic partnership aims to unify...

Iamai

Tech: WaveX invites startups to create AI-solution

July 1, 2025
13
LTTS-Thyssenkrupp

Tech: Pune centre to create automobile solutions

July 1, 2025
13
GS

Tech: Indian tech experts to scale Thai IT network

July 1, 2025
14
Unesco

Tech: India to host Global Summit on AI Impact

July 1, 2025
13
SBI YONO

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Markets: Blue Dart maintains positive outlook on India

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Tech: Military-grade integrity for digital space
  • Tech: SatSure-Dhruva Space to work on value chain
  • Tech: WaveX invites startups to create AI-solution
  • Export: Govt to facilitate easy trade environment
  • Tender: India plans 5,000 km of waterways

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.