Sitharaman’s vision extends beyond mere financial success; she sees a future where banks play a transformative role in societal development. Photo : PTI On Friday, Finance Minister Nirmala Sitharaman , addressing a virtual inauguration event at State Bank of India (SBI), called for banks to embrace innovation and digital transformation to meet evolving customer expectations and technological advancements. Speaking from the SBI event where she inaugurated 70 new SBI branches and 501 women customer service points across India. Sitharaman stressed that the world is changing rapidly, and noted," With a legacy spanning 218 years, SBI symbolises resilience, trust, and a relentless digital-first approach." Her remarks underscore the need for the banking sector to adapt by integrating modern technology and sustainability into their operations, especially as competition from new entrants, including fintech firms, intensifies. Sitharaman further emphasised the importance of digital banking in driving financial inclusion and rural development. She stated,"The world is changing rapidly, and the banking sector must continue to innovate and lead. I am confident that SBI will rise to the occasion." This call to action highlights SBI’s role not only as a financial institution but also as a key enabler of government initiatives aimed at boosting […]
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