Adopting Technology In Banking Services

Published: 04th July 2015 07:07 AM  |   Last Updated: 04th July 2015 07:07 AM   |  A+A-

Adopting Technology

CHENNAI: SBI has evolved from a ledger-based bank to an app-based bank, keeping in pace with technological advances, said PS  Prakash Rao, chief general manager, Chennai Circle, at the 60th Bank Day celebrations of State Bank of India recently. The event saw a gathering of bank officers, customers and ex-officials among others.

Reflecting upon the 1.5 million app and mobile-based banking base that the bank has, he commended the staff of the bank for keeping up with the change. “All thanks to the staff of SBI, and our customers who helped us grow this far,” he said.

Over 29 lakh crore transactions happen in the bank daily. The bank has around 1,28,000 touch points and over 54,000 ATMs, besides a substantial rural presence and mobile banking customer base of over 1.5 crore at present.

Sailakshmi, founder of Ekam, an organisation that works for the healthcare of underprivileged children and mothers in India, was the guest of honour at the event. She was honoured by the bank for her yeoman service in the field.

Seven student toppers of Class 12 board exams, from Namakkal, Tirupur and Coimbatore were presented with cash awards and mementos. Prakash and other network heads commended them for their meritorious effort.

As a token of gratitude to its customers, SBI launched an app called Freedom Rewardz for those customers who do transactions on digital channels and are prompt on loan repayment.

The evening also saw a light music performance by singer Mano and troupe.

Stay up to date on all the latest Chennai news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp