State Bank of India Opens its First Digital Bank in North-East Region

State Bank of India SBI

State Bank of India(SBI) had launched digital branches across India in six cities which offer innovative technology and banking services to people of India. These branches are more interactive, easier to navigate through and the services are a tad quicker.

In its goal to expand such services, SBI has opened a digital bank in Shillong, Meghalaya, its first in North-East. Meghalaya’s Chief Minister Mukul M Sangma inaugurated the branch on 30th March, with the aim to open innumerable possibilities to its customers.

Speaking at the inauguration, Sangma said that the digital bank will cater to “smart clients with smart banking facilities and associated financial delivery systems.” As with other digital branches, this one will have state-of-the-art facilities to engage customers and provide them quick redressals.

Internet banking, Internet savings, mobile banking and other services can be availed at these branches with minimum help from the bank tellers or management. Customers can just walk-in, use the displays and interactive computers at the facility to avail these features.

The Government wants to solve a couple of problems with this technology. Firstly, internet banking is not as secure as it should be, and these facilities will provide the customers a safer experience with immediate help if needed.

Secondly, the minister expressed the need for “aggressive sensitization and Financial Literacy programme” to be led by the banks. Through these missions, the banks will partner with Government initiatives and promote digital literacy and support entrepreneurs in the state.

The Chief Minister also promised that these branches can only be successful if we have internet connectivity throughout the state of Meghalaya, even in remote villages. This is an excellent initiative and should help the state prosper, if implemented soon.

SBI should expand its digital banks in other states as well, instead of concentrating in just one state. The intentions are good but the infrastructure needs to be supportive and we hope SBI and the Government have thought that through.

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