Your Bank registered an increase in Operating Profit in the current financial year, as compared to previous financial year. Your Bank posted a net Profit of Rs crore for FY2016, as compared to Rs crore in FY2015, i. Rs crore net of write-back for non-performing assets as against Rs crore in FYRs crore towards Standard Assets as against Rs crore in FYRs crore towards Provision for Tax as against Rs crore in FY An amount of Rs crore was provided for depreciation on Investments as against Rs crore written back from depreciation on investments in FY An amount of Rs crore as against Rs crore in FY has been transferred to Statutory Reserves. An amount of Rs crore as against Rs crore in FY has been transferred to Capital Reserves. An amount of crore as against Rs crore in FY has been transferred to Revenue and other Reserves. A steady stream of technology-driven innovations and changing consumer preferences is rapidly transforming the retail banking landscape. Your Bank has been at the forefront in leveraging technology in banking, through the launch of innovative products and solutions aimed at making banking more convenient to customers. Your Bank has a multi-channel delivery model in line with its strategy to serve its customers by offering them the choice to transact through any channel, time and place of their preference. Your Bank also strives to anticipate the future needs of customers and deliver those expectations through technology-based solutions. In FY2016, your Bank scaled up its offerings across various channels — digital branches, mobile, internet and social media. Retail Banking is also playing an increasing role in customer acquisition and CASA growth on the liabilities side. Your Bank continued to see strong momentum in acquisition of retail deposit customers and consequently robust growth in the retail deposit base. Simultaneously, to meet the aspirations of this growing customer base, Retail Assets are being strategically positioned to grow to form a much larger proportion of total advances. To this end, your Bank is constantly endeavoring to come up with customer centric products and processes in Retail, using technology to deliver a better customer experience. Customers can now check their eligibility and scheme details using the interactive eligibility assessment tool and apply online. Customers also have the facility to track the status of their applications till their loan is sanctioned. Total Home loan and Home Related loan portfolio as on stood at Rs. Home loan customers can now check their eligibility, scheme details, etc. Customers also have the facility to track the status of their applications till their Home loan is sanctioned. Rs, online customer acquisition Solution ocaS launched for sourcing Home Loan applications online and Rs, Griha tara campaign launched to encourage every member of the bank staff to market Home loan proposals. Over lakh Home loan proposals valuing Rs. In addition to business development, the Campaign has also helped in improving customer service levels. X Sbicap Securities limited SSl : Tie up to forex sales force of Indicator to expand presence in key markets by improving feet-on-street and provide door step delivery to valued customers. Your Bank has entered into tie-up with SBI Caps Securities limited SSl as our Corporate Agency for marketing Auto Loan products and became the no. Your Bank has a total exposure of Rs. Government of India has rolled out a Credit Guarantee Scheme for Education loans upto Rs lakh and Skill loans scheme and launched the Vidya Lakshmi Portal to provide a single point of service to students. Your Bank has also integrated the portal with its Online Application system for seamless delivery. For students going abroad for higher studies, SBI Global Ed-Vantage Scheme with limits up to Rs crore was launched which is rapidly gaining in popularity. Continuing the digital journey and to provide seamless and hassle free banking experience your Bank has launched the following initiatives in FY End to end digitized process for loan against Shares wherein customer can avail the loan without visiting the Branch. More than 70 lakh customers are already registered for this facility and daily calls are in excess of 4 lakh. We enjoy the patronage of 17 lakh discerning NRI customers who in turn take pleasure in being served through 81 specialized and dedicated nRI branches and NRI intensive branches as on 31st March, Fx-out facility for sending outward remittance through all our branches has been enabled for NRE and NRO accounts. In addition to the Salary Packages for the Defence, Para Military, Railways, Central Government, State Governments and Police, employees from leading MNCs are also banking with your Bank. Online application facility for Salary Accounts was introduced during the year. The Government of India launched the Scheme during FY with an intention to reduce the demand for physical gold as an investment asset. State Bank of India, along with its Associate Banks has one of the largest ATM networks in the world with more than ATMs including Kiosks, Cash deposit Machines and Recyclers as on routed through our ATM network with an average hit rate of more than transactions per day per ATM. State Bank group has a debit Card base of crore. On an average, the volume of cash that our Group ATMs dispense is Rs crore a day. More than e-Corners have been set up across the country where customers can avail the entire gamut of services from this Channel, e. Your Bank has introduced dynamic Currency Conversion dCCa value added facility for foreign Master Card holders, whereby cardholders get the market currency conversion rate while withdrawing money at domestic ATMs. More than ATMs during FY have been enabled as Talking ATMs for Visually Challenged customers. Thus, the total number of Talking ATMs has gone up to as on 31st March, Every new machine added comes with this feature ab initio. Care for the physically challenged is our priority too of our ATMs have ramps to facilitate easy access for the physically challenged persons. Over of our ATMs are on solar power back- up and the count keeps growing. ATM user-safety is our concern too. Apart from physical caretaker arrangements, ATMs have been brought under Electronic surveillance during the year. Using these kiosks, customers can print their passbooks on their own using barcode technology. Green Channel Counter GCC facility has been rolled out at all retail branches of your Bank. On an average lakh transactions are being routed through GCC every day. The Contact Centre is also handling calls received from overseas customers at 19 International Toll-Free numbers servicing 20 countries. The contact centre is also offering transaction services, such as funds transfer within SBI accounts, issue of Fixed deposits, stop payment of Cheque sstatement of accounts, to the customers registered for Phone-banking. Your Bank has added the following services that will go a long way in enhancing customer convenience and support: The Contact Centre is popular amongst all sections of the society in rural, semi-urban as well as urban areas. In view of this, your Bank is continuously monitoring and reviewing its processes to enhance the simplicity and effectiveness of the Contact Centre. Further, great emphasis has been placed on technology, infrastructure and information security. In order to utilize the Contact Centre infrastructure to the fullest and generate revenue for your Bank, it has significantly expanded some of its outbound processes by making calls for: A Mobile App State bank no Queue was launched during the year. This App enables customers to self-generate e-tokens for availing select Banking services at select Branches. This helps in reducing waiting time that customers have to endure. It also reduces crowding at a branch as the token is generated before the customer reaches the branch. Sbi Quick was launched as a one stop application for all non-Financial transactions. Under this initiative, branches were covered during the year and the total number of branches under CEEP stands at as on 31st March, The core objective of the CEEP is to improve crowd management; achieve reduction in wait times and reduction in the service time processing time ; migration of customers to the usage of Anytime Channels such as ATM, CDM, Recyclers, Swayam and Electronic Cheque deposit Machine; and streamlining the process of Account Opening. Rs, Provision of all Anytime channel machines viz. Besides onsite support, advisory services are available through Remote Expert on hi-defnition video conference. These branches provide a consistent experience across omni channels and comprise transaction processing stations self-service zoneinformation and interaction stations and advisory rooms. Right from account opening including enablement for transacting through alternate channels like Internet Banking and Mobile Banking and instant issuance of personalised debit cards to Remote Expert advisory, banking products and services delivery including products and services of SBI subsidiaries viz. The first set of 7 sbiInTOUCH branches, under the sub-brand sbiInTOUCH was launched on 1st July, These were opened as working pilots in New Delhi, Mumbai, Kolkata, Chennai, Ahmedabad and Bengaluru. These Branches are available in 70 districts of the country. Going forward, your Bank intends to continue its journey of expanding this digital footprint even more widely. Your Bank, the Banker to digital India, has changed the way its customers do Banking. Superior customer experience and trust in your Bank has made us the leader in Mobile Banking across the banking sector. These applications allow customers to do all their banking transactions such as Account Enquiry, Mini Statement, Utility Bills payment, EPF Payment, creation of Fixed deposits and a lot more. The Corporate customers get additional features which allow them to initiate payment to suppliers, authorize e-cheques and enquiry of account transactions. Within 7 months of launch, Buddy user registration has crossed lakh. The wallet has seen more than 48 lakh transactions to the tune of Rs crore. Out of which Rs crore are merchant transactions, upto 31st March, Buddy is the product designed for the tech savvy generation, the youth of the country, who are in touch with the world through their Mobiles. Buddy marketplace boasts of partnership with some of the biggest and the most popular names in the e-Commerce industry. Your Bank is the Corporate Agent of SBI life Insurance Co. In addition, all the branches are now authorized to open accounts under national Pension System. Your Bank has been the pioneer and market leader for SME financing. With over 1 million customers, the SME portfolio of Rs. The revival of business sentiment and growth in GDP has brought the focus sharply on the growth and viability of SME units. In FY2016, Ecosystem Financing project Shikhar has been started by your Bank to take advantage of growing e-Commerce footprint in the economy. Apart from this, your Bank is leveraging technology for capturing early warning signals and has introduced digital inspection of units. Overall, SBI is leveraging technology in every facet of the value chain, be it sourcing business, designing products, streamlining processes, improving delivery or monitoring and follow-up. Your Bank has taken several initiatives to build its SME portfolio in a risk mitigated manner and has brought about significant changes in i Product Suite, ii Processes iii delivery. Scoring Models have been introduced for loans up to Rs. Sector specific products like Construction Equipment loan, Medical Equipment loan have been introduced with pricing matrix and scoring models. Cluster specific products have been introduced to capture top quartile customers in an industry. Your Bank has introduced detailed Standard Operating Procedure SOP for various processes involved in the delivery of Credit to provide a ready reference to all operating functionaries. Your Bank had undertaken project vijay starting in FY to revamp the delivery model for SME lending in order to drive growth and improve customer engagement, with following key features. Your Bank has been increasingly shifting focus towards risk mitigated lending. Leveraging its state of the art technology, your Bank is focusing on further strengthening its relationship with the corporate world for their supply chain partners. Your Bank is extending collateral free lending up to Rs crore under guarantee of CGTMSE. The cost of guarantee cover for working capital facilities up to Rs. Your Bank has a portfolio of Rs. It was able to achieve Rs. The exponential growth in e-Commerce has thrown open a world of opportunities for MSMEs. Under this project, your Bank is working on various initiatives to pioneer an ecosystem for lending through partnerships with new business models. Three SME ecosystems have been identified as focus areas e-Commerce, taxi aggregators and franchise finance. Your Bank has developed a specialized offering for startups active in the e-commerce space. A pioneering innovative product e-Smart SME for financing merchants selling through e-commerce platforms has been designed. Tie-ups with leading e-Commerce companies, Snapdeal and Flipkart, have been established this year. This innovative product moves away from traditional balance sheet based lending to a cash fow based lending program. It uses an in-house developed proprietary credit model based on platform and surrogate data to assess eligibility. Your Bank has also developed a digital tool to identify any early signs of stress through the e-commerce platform data of the borrower. A digital credit tool has been developed in-house by your Bank to automate the process and enable instant sanction. Documentation needs have been significantly simplified for enabling faster loan disbursal process. Under the OlA cabs tie-up launched in FY2015, over 1,000 loans have been disbursed across 5 centres. Franchise finance along with electronic dealer finance will provide a comprehensive, competitive solution for large industry majors. Your Bank is tying up with large, reputed franchisors to extend this proposition to their new and existing franchisees. These loans will be risk mitigated through franchisor affiliation, comfort and repayment facilitation. Continuous sharing of data by franchisor will enable economic assessment of business model and identification of early warning signals 2015 stressed franchisees. Five tie-ups have been launched during the year — Philips, Medplus Pharmacy, Anytime Fitness, lakme salon and Raymond. Your Bank has been putting significant efforts to upgrade its technology to the best in class, on an on-going basis and the capability to offer near JIT Just in Time service delivery environment across its delivery channels. With over 23 crore State Bank Group debit Cards as on 31st March,your Bank continues to lead in debit Card issuance in the country. A concerted effort by your Bank to empower the customers to enjoy Anytime Anywhere Banking through Debit Card has propelled this sheer dominance of your Bank in debit card space. With a view to move the larger base of Debit Cardholders to PoS terminals as also to e-Commerce websites, awareness campaigns are being run on a regular basis. Various innovations like introduction of sbiInTOUCH contactless Debit Cards, Mumbai Metro Debit Card, among others, aggressive marketing campaigns and Debit Card awareness programme, have placed your Bank in the top slot in terms debit Card spends. In order to go green your Bank is now focusing on paperless mobile PoS terminals with mPoS terminals. Acceptance of AMEX Card has also been enabled on SBI PoS terminals during FY In dial to offering basic acquiring services on its terminals, your Bank is also providing Value Added Services such as: Your Bank has also partnered with various Government initiatives for providing payment acceptance infrastructure at the Customer Service Centres CSCs across all geographies. Your Bank has endeavored to meet the financial needs of this segment through several innovative channels, products and services. The Indian rural market is undergoing a paradigm change with structural shifts in the economy, rising non-farm incomes, changing consumption preferences and increasing awareness among the rural consumers. This transformation is supported by several factors including rapidly rising connectivity, infrastructure development and emergence of new business opportunities. Your Bank is serving more than crore farmer borrowers under agriculture segment and is deeply entrenched in rural banking arena. Always in the forefront in ensuring national priorities, your Bank surpassed the Agri credit flow target set by Government of India during FY2016, as in the past, as depicted in the table below. Your Bank is in the forefront of technology enablement for Rural-Semi Urban RUSU areas by providing Core Banking Solutions, coupled with ATMs, Cash deposit Machines, Point of Sale PoS machines and Micro ATMs. Some key initiatives in this area include: ease and operational convenience, RuPay cards were issued to over lakh Kisan Credit Card KCC borrowers up to 31st March, KCC RuPay Cards work seamlessly with ATMs and PoS machines, enabling farmers to purchase their day to day farm requirements on 24X7 basis. To avoid distress sale by the farmers and to encourage price discovery, your Bank has entered into tie-ups with Collateral Managers to offer finance to farmers against their produce stored in warehouses. Today, the number of such clubs has reached 10, The key initiatives taken in adopted villages include the construction of community vermi-compost units under clean village concept; the construction of hygienic toilets; installation of Solar lighting in the villages; and conducting awareness programmes through melas and exhibitions. Your Bank has been at the forefront of Financial Inclusion initiatives in the country. Your Bank is the pioneer in the Business Correspondent BC model, an alternative for providing banking services to cater to both urban and rural customers, characterized by small value transactions. The BC model, with over 64,628 Customer Service Points CSPs across the country, provides various products and services such as savings, term deposits, micro loans, remittances, loan repayments and micro-pension. Your Bank has successfully leveraged technology for propagating Financial Inclusion by introducing Internet based Kiosk Banking, Card based and Cell phone messaging channels. Under the Pradhan Mantri Jan dhan Yojana PMJdYyour Bank has been amongst the most prolific implementers of the programme. Your Bank has opened crore accounts up to 31st March, and issued crore RuPay debit cards to eligible customers. A substantial number of these cards were issued in some of the most challenging areas of the country. In the years to come, all these initiatives are seeds that will eventually usher in a cashless society ecosystem, promising great social benefit. Your Bank has mapped 1,03,565 villages to 52,522 rural Customer Service Points CSPs for servicing the customers with asset-liability products, including accepting credits in loan accounts from customers residing in remote unbanked areas. These CSPs are linked to a nearby branch which serves as the support and monitoring point for these CSPs. Your Bank has sponsored 14 RRBs covering districts in 15 States, with a network of branches. All RRBs are on CBS platform. Besides, RRBs have implemented various IT initiatives such as RTGS, nEFT, RuPay Cards, IMPS, Kiosk Banking, Aadhar Payment Bridge System, Aadhar Enabled Payment System, National Automated Clearing House, Cheque Truncation System etc. Under PMJdY, RRBs have opened lakh accounts and have covered lakh account holders under Prime Minister Suraksha Bima Yojna. Banking system is witnessing new challenges in its traditional business domain from new digitally enabled entrants. Payments Bank and Small Finance Banks are on the anvil. The competitive scenario is getting intense and changing rapidly. Your Bank is the first and only Bank to have its own payment aggregator services. As a Bank and a Payment aggregator, SBIePay has already partnered with 41 banks for providing seamless Internet Banking options to the customers. PayPal has also been added as a new channel in SBIePay. With its focus on C2G and B2G SBIePay is well positioned to support the Govt. Sbiepay has already provided its aggregator services to GRAS Govt. Receipts and Payments System of the States of Maharashtra, Rajasthan and entered into relationship with Assam, Gujarat, and Puducherry State governments. Indian Railways eProcurement system has identified SBIePay for their online procurement payments. SBIePay aims to be the one stop solution for processing all online Govt. Receipts and a leading player in C2G and B2G segment. In line with our vision statement to keep Customer first during the FYyour Bank launched Enterprise Wide loyalty Programme-State Bank Rewardz to reward its customers for the unstinted trust reposed, across a wide range of services availed by them. Your Bank envisions strengthening its relationship with its customers by recognizing their continued faith and long term association with your Bank. Now, customers earn reward points for their various transactions like payment through Debit Cards, Internet Banking transactions, usage of Mobile Banking, Personal Banking, demat Accounts, Agri Business, Home loans and Current Accounts. These reward points can be redeemed for a plethora of redemption options such as SBI Gift Card, Merchandise, recharging of phone or D2H, booking tickets for Movies, Buses and Flights. The most important feature of the Programme is the ease of use through a Mobile App- State Bank Rewardz which can be downloaded from the Google Play Store. To further improve customer experience, the reward points can be redeemed at select Merchant partner outlets as well. Visa fee is being collected through SBI e-pay. In terms of operating cost reduction, your Bank has taken up the rationalization of Currency Chests, under which Currency Chests CC have been closed during FY2016, saving a recurring cost of approximately Rs. To attain considerable Cost Control and reduction, your Bank has further centralized and rationalized its purchases of registers and forms, and the introduction of Outsourcing Model for Stationary Management. To get the optimum advantage of bulk ordering in terms of reduced wastage and enhanced efficiency, a switch- over from in-house supply of stationery items to an outsourcing model of web based stationery management is being implemented. This initiative is expected to help in the reduction of costs presently being incurred on hiring of premises, management of storage, obsolescence of stationery items, manpower and transportation costs. Pilot rollout of the project was launched in two Circles in March For digitization and easy retrieval of Account Opening Forms AOFsan Electronic data Management System EdMS has been introduced during the year. The digitization of AOFs aims to archive the AOFs electronically and retrieve the images at all 14 lCPCs. This is expected to be completed during the FY on a Pan India basis. As a result of the above initiatives, your Bank continues to efficiently manage a continuously increasing volume of customer transactions by taking advantage of standardization, skill building and economies of scale. Going forward, your Bank will look at sourcing new businesses and generating new income streams, while continuing to offer comprehensive financial solutions to corporate clients with a focus on profitability and risk mitigation. The Corporate Accounts Group CAG is the dedicated vertical handling the large credit portfolio of your Bank. CAG has 8 Offices in 6 regional centers viz. Mumbai, delhi, Chennai, Kolkata, Hyderabad and Ahmadabad. The business model of CAG is centered on the Relationship Management concept and each client is mapped to a Relationship Manager who leads a cross-functional Client Service Team. The Relationship strategy is anchored on delivering integrated and comprehensive financial solutions to clients, through structured products, within a strict Turn- Around-Time. The principal objective of the strategy is to make your Bank the first choice of top Corporate. Your Bank has continuously been working on promoting technology initiatives for operational convenience as also to minimize operational risk. Such initiatives include mobile versions of Corporate Internet Banking i. State Bank Anywhere — Corporate, which allow corporate users to initiate and authorize transactions through their mobile. In addition e-trade and various payment solutions are now available. Indicator platform will also be used for other ancillary activities related to credit management. The business of the Unit has clocked significant increase during last three years. Your Bank offers various e-Payment products through a secure process of dedicated portal with Host-to-Host facility. The business has been growing over last three years. CMP Centre has also brought about integration of payment systems of Ministry of Defence, Civil Ministries under UMEA, a number of State Governments with Core Banking Infrastructure of your Bank by providing Centralized e-Payment Solutions enabling Government Departments to achieve their objectives under National e-Governance Project neGP. Centralized e-Payment for Railways commenced from CMP with delhi division of northern Railways. CMP has also started non-tax collection for Government of India through Bharatkosh Portal, hosted by Controller General of Accounts. As on 31st March,Corporates are registered under e-Trade SBI. Our relationship with the Corporate World has been further strengthened by financing their Supply Chain Partners through the above two products which are fully automated, secured and robust. Financial Institutions Business Unit is a dedicated vertical created for capturing potential business opportunities from financial institutions viz. Banks, Mutual Funds, Insurance Companies, Brokerage frms and nBFCs. In addition to facilitating their Cash Management by making available various Collection and Payment productsInsurance Cos. Capital Market Branch CMBa Specialized Branch at Mumbai caters to the Capital Market business clients and brokers. The project finance environment continued to remain challenging during FY largely due to a slowdown in new project commitments by corporate, coupled with implementation and operational issues affecting ongoing projects. PFSBU also provides support to other verticals for vetting their large ticket term loan proposals. As on 31st March,the portfolio of infrastructure projects under implementation and control with PFSBU include Power projects with aggregate capacity of 43, MW; Telecom Projects serving more than million subscribers; Road projects covering more than kms; Metro Project in Hyderabad besides a host of projects in steel, cement, Urban Infra, etc. With a view to focusing on midsize units having credit requirement for limit of above Rs. During the year under review, MCG has grown in investment grade forex mainly in, Textiles, nBFC, CRE, Chemicals and Wholesale industries. The Group continues to partner in growth of its customers in India to expand their activities and provides them support for acquiring assets or companies overseas, including by way of loans to overseas subsidiaries and JVs backed by letters of Comfort or Stand-by letters of Credit. The International Operations of your Bank are guided by the overarching principle of supporting global Indian corporate and Indian Diaspora spread across geographies. In addition, your Indicator also targets the local populace in line with its vision to become a truly International Bank. The number of foreign offices of your Bank is currently Spread across 37 countries in all the continents, your Bank offices include 55 Branches, 20 other offices, 7 Representative Offices and additional offices of 8 Foreign Subsidiaries. Your Bank commenced its Representative Office functions in Sao Paulo, Brazil through its subsidiary State Bank of India Services limited. Dusseldorf Marketing Office of SBI, Bakersfield Branch of SBI California and Abbotsford Branch of SBI Canada Bank were closed during the year. International Banking Group supports your Bank as well as its major stakeholders through its various business functions as detailed below: Your Bank facilitates raising debt in Foreign Currency by Indian corporate by way of External Commercial Borrowings through syndicated deals in conjunction with other Indian and Foreign Banks, and also through bilateral arrangements. This is achieved through a range of loan products. In some countries with considerable Indian diaspora, your Bank also engages in retail banking activities for both Indian as well as local customers. The Group facilitates linkages of your Bank with international stakeholders viz Correspondent Banks, Foreign Govt. Agencies and developmental Financial Institutions, International Chamber of Commerce etc. Institutions Group to consolidate the Correspondent Relationship job, which was earlier being handled partly by Global Market Unit Kolkata GMUK. GTd formulates policies and innovates new products as per changing regulatory norms and market demands. GTd takes lead in introduction of new technologies to improve service quality in Trade Product offerings viz. International Banking - domestic IBd is a new department under FIG, which is a single point of contact for all the Foreign Offices as well as Correspondent Banks for all matters relating to domestic IB business. IBd is also responsible for monitoring timely submission of all RBI returns and FEMA compliance. Your Bank is committed to the policy of zero tolerance of non-compliance with regulatory guidelines in all its overseas operations. Status of remediation is placed before the Audit Committee of the Board. Your Bank has adopted an Independent Risk Governance Structure covering domestic and international operations. A country Risk Management Policy in tune with RBI guidelines is in place. Country-wise and Bank-wise exposure As a truly digital Bank, your Bank has taken a holistic approach to innovate processes to capture and convert data into a simple virtual organization that appears ubiquitous to every customer, offering tailored products to the likes, needs and preferences. Rs, Your Bank completed its multi- country migration forex Finale to Finale in 24 countries, which will support a wide range of APIs Application Programming Interfacewealth management and enhanced mobile banking solution. Advanced Anti Skimming devices and terminal security, SMS alerts, Out of zone concepts and PIn based debit card authorization have been implemented in all geographies. Your Bank has initiated: - Bank level CRM solution to improve deep understanding of customer needs and behavior, requiring very little remote support. Increasing NPAs adversely impacts the bottom line of banks. Banks cannot book income on such assets and they have to make provisions as per IRAC norms of RBI. Consequent upon the Asset Quality Review AQR exercise conducted by RBI, profits of your Bank reduced considerably on account of higher provisioning. With the economic recovery prospects appearing weak in the short term, the stress faced by the Banking sector is likely to continue for a few more quarters. It is headed by a deputy Managing director with two Chief General Managers overseeing the entire effort. As on MarchSAMG has 19 Stressed Assets Management Branches SAMBs and 44 Stressed Assets Recovery Branches SARBs across the country. The loan resolution week lRWa nationwide Bank Adalat was conducted over a period of one week in May and all over nPA borrowers were advised in writing well in advance to come for negotiated settlement. Besides giving wide publicity through nationwide advertisement through print and social media, the event was internally monitored by setting-up war rooms at administrative offices. Despite making concerted efforts to expedite recovery and reducing NPAs, your Bank often faces impediments in the form of legal hurdles, unavailability of strategic investors, lack of buyers for properties put up for auction, among others. For the various constraints, your Bank has approached the concerned authorities at appropriate levels and relevant forums like Gyan Sangam, IBA, among others. It enables effective management of existing and new legal cases, store contact details of Advocates, Valuers, Recovery Agents etc, and track expenses incurred on them. The monitoring through lMS system has ensured that all court hearings are attended by our officials, advocates and hearings outcome also gets recorded instantaneously loan life-Cycle Management System llMS is the online credit processing software which handles all credit processes, as prescribed by your Bank, end-to-end. It has been rolled out in all the SAM Branches and helps in generating dynamic MIS reports, monitoring the account right from inception, 3. Early Warning System EWS is a software that enables early identification of potential stressed accounts before they become delinquent so that timely action can be taken preventing their further deterioration Electronic Document Management System EdMS is an electronic depository of important documents, transactions, audit trails, accounting reports, workfow processes, compliance documents, etc. It also signals a strong intent of your Bank towards battling out the cases while making last mile recovery efforts Identifying Companies and promoters as Willful defaulters and arranging for display of their names on the websites of Credit Information Companies such as CIBIl, Equifax, CRIF Highmark, Experian Identifying and engaging with strategic investors for takeover of stressed assets. It covers monitoring of SMA as well as Sub Standard accounts in PER, SME and AGl accounts. Unlike last year, the tailwind from falling yields was not available this year for the Bond portfolio. This system enables us to execute orders with minimum intervention from brokers which, in turn, helps in risk mitigation. The Global Markets Group provides foreign exchange solutions to customers for managing their currency fows and hedging risks through options, swaps and forwards. Apart from booking the rates for cash, spot and forwards, the platform also enables customers to view their entire hedging position with your Bank. Our Regional Treasury Marketing Units provide the necessary marketing support to our Fixed Income and Foreign Exchange dealers through regular interactions with customers. This year, your Bank has formed a new Inter-Bank marketing team and has commenced dealing with a number of FPI clients to leverage our large debt portfolio and our strengths in the FX market. Your Bank has also taken steps to increase the use of IT in its Treasury Marketing efforts through the implementation of an automated lead Reporting and Management System. The fund invested in infrastructure assets viz. Telecom Tower, Airport, Thermal Power, Hydro power and nHAI road assets. The Oman India Joint Investment Fund OIJIFset up in partnering with State General Reserve Fund of Oman, has completed its investments for Fund-I worth US0 million. Moreover, the Fund has made 1 full exit and 1 partial exit from the investee companies. With this, Fund-II is expected to be launched shortly. It is a platform that aims to serve as an exchange to facilitate MSMEs to convert their receivables to cash before maturity. The proposed platform will support multi-fnancier bidding for invoices through market determined rates for factoring the invoices. In addition to our continuous efforts in making profits, improving processes and reaching out to customers, your bank has advanced risk management systems in place. The leadership has been very proactive in employee engagement which is critical for your Bank to sustain growth with profit. This has been borne out by initiation of a host of important initiatives, as detailed below, during FY during the FY2016, your Bank has introduced a new system of performance appraisal re-named as Career development System of individual employees in an objective and transparent manner. The entire system is IT driven. The system extracts business data required for the KRAs and calculates scores. All the employees are being judged on the basis of their performance. These scores provide the input for Promotions and other Rewards and Recognition. The system also has provision for capturing the developmental needs of the individual employees through competency assessment. A scientifc model has been developed to determine the manpower requirement in branches in order to provide optimal staffing across various types of branches. These Officers will support the existing efforts of your Bank to augment skills in specialized area. Bank is also recruiting on lateral basis in certain specialized positions, such asWealth Management Specialists, Risk Management and Compliance specialist and information technology to enhance in-house knowledge. Rs, vacation policy : Vacation Policy has been introduced by making a stipulation of mandatory availment of leave for ten working days in one go by the staff members, posted in sensitive positions, in each financial year. This leave will serve the purpose of increasing efficiency, productivity and risk mitigation. This facility has been extended as a welfare measure with the objective of creating an employee friendly environment and promoting healthy work life balance. This is designed to facilitate their completion of mandatory assignments in a hassle- free environment. As part of the settlement, 2nd and 4th Saturdays have been declared holidays and all other Saturdays have been declared as full working days, providing much needed relief to employees with family responsibilities. Your Bank held regular consultative meetings with the Associations and the Unions as part of having a constructive dialogue for understanding and addressing grievances of various categories of employees. These consultations are carried out at both the Corporate Centre, as well as at Circles. Various issues raised by the Federations were examined on their merits and necessary actions were taken for their resolution. In a quest for becoming an organization which is a great place to work, our Bank continues a planned, proactive training process for individual growth and organizational effectiveness. The training system functions under the overall supervision and guidance of the STU. The training apparatus at present consists of five Apex Training Institutes ATIs and 45 State Bank learning Centres. Your Bank has been able to create a virtual Knowledge university within the institution, with a capacity of classroom training of employees per day in all areas of Banking, Economy, leadership, Ethics, Marketing, Administration and Soft Skills, in addition to a robust digital learning system. Our Bank has a tie-up for business content across 44 management topics and is mandatory for Senior Executives, which leads to Joint Certification between SBI and HMM. To ensure continued focus on improving and delivering improved customer service on a consistent basis SBI has initiated Mentoring of branches and this is more than the traditional understanding of Mentoring. During the mentoring process, the mentor, notionally steps away from his administrative role and looks at these Branches from a developmental perspective. The mentor also interacts with the customers of the Branch and enables the branch team to evolve solutions. Currently there are active mentors covering branches. Certification Programme on Credit has been launched for Officers of Scales I to V to develop adequate credit skills and to keep them updated at all times. It focusses on the Commercial Credit Skills required to handle the entire loan life Cycle of Advances. This year your Bank has made tremendous progress in this endeavour, with the result that, during FY2015, 23 SBlCs were accredited with the ISO Certification, taking the total tally to 27 accredited centers out of a total of 45 SBlCs till date. This enabled an exposure to the challenges and demands of the real world. Aided with a strong set of Principles and Ethics, 2015 training system actively promotes strong values in their programmes. Your Bank has also started a facebook page for new batch of Probationary Officers called SBI STEPUP. This is being used for both employee engagement and also for building a team spirit amongst new recruits. During the dial, the website of the Strategic Training Unit was completely revamped to form the epicenter of where all learning materials are accessible by all Apex Training Institutes and SBlCs in one place via the Intranet. Your Bank has opened up its training system to other outside institutions including Public and Private Sector Bank Officers and other Govt departments. During the year, an Inclusion Centre for differently Abled Employees was created. The objective is enabling financial inclusion, training, empowerment and up gradation of skills of people with different Abilities in a systematic way. Your Bank has Visually Impaired VI and Hearing Impaired HI Employees along with Orthopedically Challenged staff. State Bank of India is a strong proponent of leveraging information technology to deliver convenience to its customers. Your Bank has been offering innovative and cutting-edge products to its customers with the 2015 of enabling banking transactions at any time and from anywhere. Biometric authentication as a second-factor authentication has been implemented in branches for all CBS users. The process for systematic and proactive risk identification, assessment, measurement, monitoring and mitigation of various risks in the IT vertical has been initiated PRM: Proactive Risk Management tool has been integrated with ATM Switches for Fraud Monitoring RTO Reduction: Recovery Time Objective RTOi. This facility shall allow the customer to withdraw a pre-set favorite amount every time he visits ATM. The Corporate Internet Banking CInB is well suited to Small, Medium and large Corporate. Staff will complete all account opening formalities by using tab, including taking photograph, uploading of KYC documents. Thereafter the account opening details will be loaded in CBS platform and account number will be advised to customer. Based on data furnished and cost of project, applicant will be advised on approx. Dial Apps for recording the pre-sanction and post-sanction inspections of the customers has been launched for 7 products. The inspection reports are automatically mailed to the field staff in their EMS mail ids. Application also has auto reminders for upcoming post-sanction inspections, stock and insurance expiry dates. The Digital Inspection Forex Lite version for SME has been launched for forex phones. Field Officers can capture the photographs with date, time and geo-coordinates using the Mobile App and then continue the data entry for inspection in the desktop site. All features provided in the tab are available in the desktop site. State Bank Foreign Travel Cards are available in eight foreign currencies namely the Japanese yen, the Canadian dollar, the Australian dollar, the Saudi riyal, the Singapore dollar, the U. In FY2016, we have issued 27,220 Foreign Travel cards and approximately 2,01,900 InR prepaid cards. Your Bank offers Real Time Gross Settlement RTGSnational Electronic Fund Transfer nEFT and national Electronic Clearing Service nECS fund transfer facilities for qualifying transactions at its branches as well as through internet banking. The State Bank Connect primary point-to- point links have recently been migrated to Multi Protocol level Switching MPlS architecture for ensuring higher uptime and dynamic upgrade of bandwidth. To provide a comfortable bandwidth to all our offices for better customer service, Bank have embarked on a bulk bandwidth upgrade project and have so far upgraded bandwidth at 10,235 branches and expect to cover all branches by December project cbS roopantar: Bank have initiated CBS Roopantar, a project aimed indicator reducing data entry and steps required to perform transactions by tellers, with improvement in existing processes, thereby increasing their efficiency and reducing the overheads both in terms of time and resources. Standardization of passbook narrations: Narrations printed in passbook have been standardized for the convenience of customers. Facility for collection of Mutual Fund investments in CBS provided, by linking to Mutual Fund server, for fetching investor details. Subsequent to establishing our presence on external social media sites by engaging with the young generation customers, we have been ranked no. SBI boasts having the highest fan-base on Facebook across the globe among banks. It also leads the chart on linkedIn and Pinterest among Indian banks. According to an article in Economic times, on 9th July,your Bank is amongst the most active banks in addressing customer complaints and queries on social media. It also mentioned that our Bank is the most active bank on Facebook, with the highest number of posts shared per day. We have leveraged this platform to promote our latest products and services and provided responses to the innumerable comments that we receive on this platform. We are the first bank in India to have started live broadcasting of important events on Face book. Your Bank is using analytics extensively to better understand and serve the customer by generating actionable insights to generate business and revenue while at the same time controlling costs. Customer Analytics is carried out to make key business decisions via market segmentation and predictive analytics with the objective of enhancing customer revenues through cross-sell, up-sell and customer retention. The data is used across Your Bank for reports and returns monitoring and is provided in in a graphical and intuitive manner to business users including interactive and visualization dashboard. It turns data into ultimate value and, is the source of major reporting and analyses in your Bank. The vertical has also introduced Charge Back Model with a view to further ingrain ROI in the corporate culture. Bank has built a robust disaster recovery architecture to ensure business operations in case of non-availability of primary IT infrastructure. Each IT Application is designed to have an alternative IT infrastructure arrangement identical to their production environment. The processes of movement between primary and alternative sites are tested regularly to ensure the readiness. SSO enables the user to have single set of user ID and password across multiple applications. The Command Centre is a state of the art setup with 18 lEd display panels for current use and future requirements. Setting up of alternate disaster recovery Site Hot Site : In view of criticality of Core Banking application, your Bank has setup an Alternate disaster Recovery Site Hot Site with all the processing environment and in closer proximity to production site for resuming the Core Banking Operations in a short time span of 1 hour. We also migrated the production environment with all- fish-storage replacing the old spinning disks. Your Bank is exposed to various risks that are an inherent part of any banking business. The major risks are credit risk, market risk, liquidity risk and operational risk which includes IT risk. Your Bank has policies and procedures in place to measure, assess, monitor and manage these risks systematically across all its portfolios. Your Bank is amongst the leaders to undertake implementation of the Advanced Approaches under Credit, Market and Operational risk. Your Bank has also undertaken the Enterprise and Group Risk Management Projects which aim to adopt global best practices. The projects are being implemented with support from external consultants. RBI Guidelines on Basel III Capital Regulations have been implemented and your Bank is adequately capitalised as per the current requirements under Basel III. An independent Risk Governance Structure, in line with international best practices, has been put in place, in the context of separation of duties and ensuring independence of Risk Measurement, Monitoring and Control functions. This framework visualises empowerment of Business Units at the operating level, with technology being the key driver, enabling identifcation and management of risk at the place of origination. The various risks across Bank and the SBI Group are monitored and reviewed through the Executive level committees and the Risk Management Committee of the Board RMCB which meets regularly. Risk Management Committees at Operational unit and Business unit level are also in place. Your bank has taken several new risk initiatives towards enhancing its risk management. Rs, An independent, second look is being given on all the sanctions through an Early Sanction Review for all loans having exposure between Rs crore. Rs, In order to focus on capital conservation and maximization of return on capital, your Bank has introduced Risk Based Budgeting RBB. Reduction in risk and return on Capital is measured based on Return on Credit Risk Capital RoCrC. Achievement of the budgeted advances levels will be subject to achievements under the specified levers. Risk Adjusted Return on Capital RAROC framework has been implemented from FY Customer level RAROC calculation has also been digitized. Behavioral models for monitoring and scoring the retail borrower performance have been developed and hosted on Credit Risk data Mart. Credit Risk is defend as the possibility of losses associated with the diminution in the credit quality of borrowers or counter-parties from outright default or from reduction in portfolio value. Your Bank uses internal Credit Risk Assessment Models and score cards for assessing credit risk under different exposure segments. Internal ratings of your Bank are subject to comprehensive rating validation framework. Research papers are prepared to assess the impact of major developments e. The data under parallel run of FIRB is being submitted to RBI. Stress Scenarios are regularly updated in line with RBI guidelines, Industry best practices and changes in macro economic variables. Market Risk is the possibility of loss a Bank may suffer on account of changes in values of its trading portfolio, due to change in market variables, such as exchange rates, interest rates and equity price, among others. Your Bank has submitted letter of Intent to the Reserve Bank of India for migration to Internal Models Approach IMA under the Advanced Approaches for market risk. The VaR methodology is supplemented by conducting quarterly stress tests of the trading portfolio. Operational Risk is the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events. 2015 charge as per AMA has also been calculated as part of Parallel Run. Enterprise Risk Management Project aims to put in place a comprehensive framework to manage various risks. It encompasses Global best practices like Risk Appetite, Risk Aggregation and Material Risk Assessment. Your Bank has a comprehensive Internal Capital Adequacy Assessment Process ICAAP Policy. The Pillar 2 risks, such as liquidity Risk, Interest Rate Risk in Banking Book IRRBBConcentration Risk etc, and overall Risk Management practices as well as adequacy of Capital under both normal and stressed conditions are assessed as per the Policy. Group Risk Management aims to put in place standardized risk management processes in Group entities. In addition, limits for Unsecured Exposures, Real Estate and Intra- Group Exposures have been set by your Bank. Information Security risk seeks to establish stringent information security structure to prevent data loss and threats. These policies are in line with international best practices. They are reviewed periodically and suitably strengthened to address emerging threats. SBI is a forerunner in setting up of an in-house Security Operations Centre SOC for 24 x 7 monitoring of various attacks and threats on its IT infrastructure. The SOC has the following attributes: - Visibility over the security threats from within and outside your Bank and improves Incident Reporting and Management. Critical IT Systems of your Bank are compliant with the International BCMS Standard — ISO The application setups undergo security reviews before launching as also are reviewed periodically. Your Bank has in-built internal control systems with well-defned responsibilities at each level. The inspection system plays an important and critical role in identification, control and management of risks through the internal audit function, which is regarded as one of the most important components of Risk Management Process. Your Bank carries out mainly two streams of audits — Risk Focused Internal Audit RFIA and Management Audit, covering different facets of Internal Audit requirement. To verify the level of rectification of irregularities by branches, audit of compliance at select branches is also undertaken. While audit of Group I branches is administrated by the Central Audit Unit CAU headed by a General Manager, audit of branches in Group II and III category and Business Process Re-engineering BPR entities are conducted by 13 Zonal Inspection Offices, each of which is headed by a General Manager. The Credit Audit System also provides feedback to the business unit by way of warning signals about the quality of advance portfolio in the unit and suggests remedial measures. Audit in high value credit area also has an off-site review mechanism loan Review Mechanism of all the pre-sanction and sanction process of individual advances above Rs. The objectives of ESR are: - To capture the critical risks in the proposals sanctioned, at an early stage and apprise the Controllers of such risks for mitigation thereof at the earliest. All Branches are being subjected to Information System IS Audit to assess the IT related risks as part of RFIA of the branch. Concurrent Audit System is essentially a control process, integral to the establishment of sound internal accounting functions, effective controls and overseeing of operations on a continuous basis. Concurrent Audit System has been revamped, along with the introduction of a web-based solution, with external auditors appointed as Concurrent Auditors External Chartered Accountant Firms. It covers low value credit areas, and is conducted between two RFIAs. This enables audited unit to be better prepared for the RFIA. Off-Site Transaction Monitoring System OTMSa web based solution, has been introduced to capture deviations and take corrective actions. Exception data is being generated by Data Warehouse dWbased on certain business rules. At Present, 14 types of exceptions are being monitored and fagged to the branches for verification by them. Legal Audit was rolled out in all the Business Verticals in June, to cover all loan and Mortgage related documents pertaining to accounts with aggregate exposure of Rs. As on 31st March,legal Audit was commenced in eligible accounts and has been completed in cases. Bank has outsourced 56 groups of activities to approximately vendors. A full fudged outsourced audit department headed by a General Manager is being set up to oversee the audit of outsourced activities of your Bank. Your Bank is committed to the implementation of different provisions of the Annual Programme formulated by the Government of India. We continued our efforts to use Hindi and other Indian languages in your Bank. Some of the highlights are given below: A new website of Rajbhasha dept. This website is launched by our Chairman recently through video conferencing during All India Rajbhasha Adhikari Vaarshik Sammelan held at SBIRd, Hyderabad. In the changed scenario Government of India is expecting from us that we shall make our staff conversant with the regional language also so that they can interact with the local people in their language and have a better understanding of their needs and achieve better results. During the year we have introduced a bi-monthly sentence formation competition in Hindi for other than Hindi knowing staff. A new application has been developed and implemented by our own System and Rajbhasha Officers for online submission of the quarterly progress report. Renowned Hindi poet dr. Gopal das neeraj and renowned Hindi—Urdu poet late Shri nida Fazli felicitated on the eve of Hindi day at Corporate Centre of your Bank. From this year, we have started an All India online Hindi Quiz in the Rajbhasha Month with different elimination rounds. More than 11,000 staff members from all over your Bank participated with lot of enthusiasm. As a responsible Corporate, all offices of your Bank abroad celebrated 11th January th January being a holiday as World Hindi day. The objective of this day is to create a conducive environment for progressive use of Hindi there and also to encourage and motivate our staff members to use Hindi in their day to day work according to the target set in the Annual Programme. Among the highlights participation of foreign nationals is a very encouraging sign for the propagation of Hindi in those countries. Many foreign staff members won prizes in the competitions held on this day. A meeting of the standing committee set up under the aegis of Reserve Bank of India to ensure uniformity in banking terminology in the banking industry was hosted by us at our Corporate Centre at Mumbai on 28th and 29th January The meeting concluded with finalization of Hindi equivalents of banking terms. On this occasion a demonstration of online banking glossary portal of RBI was also made. A Compendium of Customer Information in bilingual comprising of policy documents viz. At SBI, there are three aspects to the vigilance function — Preventive, Punitive and Participative. In this connection, Preventive Vigilance Committee meetings are being held at the branches and at regular quarterly intervals. The concept of Whistleblower is another effective tool for Preventive Vigilance. There is a well-defned Whistle Blower policy in our Bank, which acts as a deterrent for employees that may be prone to carrying out malicious activities. The Whistleblower is generally an insider, who has near full knowledge of the misdeeds of fellow worker or higher official, can provide evidence against the delinquent employees. We keep the secrecy of the whistleblower and give protection to them so that they continued proving an effective tool against wrongdoings without fear. Where certain lapses of grave nature are observed, such branches are earmarked for Suo-motu investigations so that possible fraudulent activities are checked and remedial measures taken. State Bank of India has been a pioneer in the space of Corporate Social Responsibility within the Indian Banking ecosystem. Your Bank believes that it owes a solemn duty to the less fortunate and underprivileged members of the society to make sustainable social change in their lives. Your Bank is committed to the economic and social wellbeing of the socially and economically impoverished. The CSR spend of your Bank for the FY stood at Rs crore. This is the fourth successive year, where its CSR spend has crossed the milestone of Rs million. The sector wise spend during the FY is as under: Supporting Healthcare: Health and hygiene are critical elements to enhance the quality of life. Healthcare in India is a neglected area. It is still inaccessible to many sections of the society, especially the most vulnerable and depressed section of the society. Lack of affordability, unavailability and lack of awareness are the major reasons for a low healthcare index in India. The primary focus has always remained to provide the basic infrastructure to ameliorate the conditions of the common man. To deliver quality healthcare to those belonging to underprivileged and economically weaker sections dial the society, your Bank has supported large number of hospitals. Your Bank has also donated Rs crore to over 50 charitable organizations for acquiring 57 Ambulances and Medical Vans. Your Bank has supported surgeries for poor and underprivileged section of the society by sponsoring heart surgeries through Rotary Charitable trust Bangalore and needy heart foundation. Your Bank has also donated Rs. It is commonly said A healthy nation is always a wealthy nation. Sport is an important part of our national culture. An Amount of Rs crore was spent for development of sport especially in north eastern region of the country. Supporting Education: Education plays a vital role in improving the standard of life of an individual and is viewed as an effective tool for bringing social change through community development. Holistic Support: Your Bank spent Rs crore in holistically supporting for food, shelter and sponsoring the cost of education. Your Bank also spent an amount of Rs crore on Computers, Equipments, Furniture support for Setting up Science Centres to rural schools; and the printing and distribution of one lakh note books among destitute girl students. This imparts formal vocational training, hand holding, periodic skill up-gradation, capacity building, sustainable income generation, providing forward and backward credit linkages. The aim of training is to equip the rural youth to get employment or start a profitable micro-enterprise. Your Bank has spent Rs crore for the construction of 9 RSETI buildings and for providing other infrastructure to 12 RSETIs. The expenditure incurred for conducting skill development programs for youth was Rs crore at RSETIs of your Bank across the country. Sbi youth for india Fellowship program: To bridge the widening urban-rural divide and to organize and galvanize the youth, a unique CSR Programme was initiated by your Bank in It entails the urban educated youth to voluntarily get involved in various developmental projects in rural areas. Under the initiative, your Bank partnered with reputed nGOs that are engaged in development work in rural areas, for conceiving and working on innovative projects in which the enrolled youths take part. These youth were supported by a monthly fellowship from your bank. The fellow of the fourth batch are currently working at 23 locations in 12 states. SBI has spent Rs crore during FY for Construction of over toilets and additional water facilities in rural schools of India. Support to persons with disabilities pwds : Your Bank always remain in the forefront for Protection and Promotion of the Rights and dignity of Persons with disabilities Pwd. Some specific actions take were: - distribution of artificial limbs, calipers, crutches, wheel chairs among others. Environmental sustainability is defend as responsible interaction with the environment to avoid depletion and degradation of natural resources and maintain long term quality of the environment. Your Bank has spent Rs crore for acquiring, commissioning and maintaining of a number of Solar power plants, Solar lamp, Solar water heater, and Solar street lamps. It has also provided an animal ambulance and set up an operation theatre for injured animals. To this end, your Bank has made significant contribution in several ways, by way of financial support and initiatives in the area of renewable energy, as well as adoption of various measures that reflect the importance attached to environmental concerns and energy dial. Other measures include adoption of green building norms, rain water harvesting, management of waste disposal, composting among others. In recognition of the leading role in Renewable Energy financing, your Bank received the Outstanding Performance Award — from the Government of India. The following donations were made during the year. An amount GBP 200,000 was contributed during the year. The corpus of the fund is made by staff members and matching contribution provided by your Bank. Haryana and Chandigarh organised on the occasion of 99th Foundation day of your Bank. SSl has over branches and offers demat, e-broking, e-IPO and e-MF services to both retail and institutional clients. SSl currently has more than 10 lakh clients. The Company has booked gross revenue of Rs crore during the period ended 31st March, as against crore in FY SVl is a wholly owned subsidiary of SBI Capital Markets limited. SVl is acting as the Asset Management Company. The neev Fund had its Initial close on 10th April, and current corpus of the Fund is Rs crore. Funds will be invested in Infrastructure sectors such as renewable energy, water and sanitation, agricultural supply chain in 8 identified states of India Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Odisha, Rajasthan, Uttar Pradesh and West Bengal. SVl has started earning Management Fee. SUl is a wholly owned subsidiary of SBI Capital Markets limited. SUl is positioning itself as a relationship outft for SBI Capital Markets limited in UK and Europe. Relationships are being built with FIIs, Financial Institutions, law Firms, Accounting Firms, etc to market the business products of SBICAP. SSGl, is a wholly owned subsidiary of SBI Capital Markets limited. SSGl commenced business with effect from December Relationships are being built with FIIs, Financial Institutions, law Firms, Accounting Firms, etc. It has been specializing in marketing of Foreign Currency Bonds and securing clients for SBICAP SEC. SBICAP Trustee Co limited STClis a wholly owned subsidiary of SBI Capital Markets limited. SBI DFHI limited is one of the largest standalone Primary dealers Pd with a pan India presence. As a Primary dealer Pd it is mandated to support the book building process in primary auctions and provide depth and liquidity to secondary markets in G-Sec. Besides Government securities, it also deals in money market instruments, non G-Sec debt instruments, etc. As a PD, its business activities are regulated by RBI. In the current year, the company has launched the Simply Click Card to tap into the e-commerce focused younger generation, Co-branded Cards with Federal Bank, lakshmi Vilas Bank, Capital One and Mumbai Metro. In terms of new technology, the company has launched Pay-Wave Signature Card based on nFC technology for contactless usage. SBI life has a unique multi—distribution model comprising Bancassurance, Retail Agency, Alternate, Group Corporate and Online Channels for distribution of insurance products. The Company has proven its market leadership again in FY16 with a growth rate higher than the growth of the industry. The Company has been ranked no. Leveraging wider reach achieved through its network of offices, SBI life has systematically brought large rural areas under insurance. The Company has been substantially exceeding the minimum social and rural regulatory norms. The proposed divestment by SBI has been approved by SBI. SBI life has reinforced its outreach initiatives in the realm of child welfare, across different parts of the country, in line with its avowed CSR goals. SBI life continues to remain focused on contributing towards improving the quality of life of children and engaging communities through healthcare facilities, educational and infrastructural improvement and rural development. The Company has engaged in societal sustainability through its partnership programmes with national and local organizations and has impacted the lives of more than one lakh children and extended support to over educational institutions and organizations across the nation. In FY2016, the focus was on designing products that cater to the changing market requirements and regulatory requirements. Based on an analysis of the customer needs and current product portfolio, new segments were identified and the products listed below were launched. Each of them is aimed to address a specific need and to contribute to comprehensiveness of the product portfolio. SBIFMPl, the Asset Management Company of SBI Mutual Fund, is the 5th largest Fund House in terms of Average Assets Under Management and a leading player in the market with over million investors. SBIFMPl posted a PAT of Rs crore in FY as against Rs crore earned during FY The average Assets Under Management AUM of the company during the quarter ended March were Rs. SBIGFl is a leading provider of factoring services for domestic and international trade. By virtue of its membership of Factors Chain International FCIthe Company is able to ameliorate credit risk from export receivables under the 2 factor model. The Company has turned around in FY Company has achieved PBT of Rs crore as compared to loss of Rs crore last year and PAT of Rs crore as compared to loss of Rs crore last year. Turnover of the Company crossed Rs. FIU level crossed Rs. Gross NPA level of the Company was brought down to Rs crore and net NPA level to Rs. SBIGFl received Certifcate of Recognition for Best Service Quality Improvement as Export Factor from Factors Chain International FCI in June at Singapore. The company maintained its number 1 rank in both Private Sector and Government Sector. The Company was adjudged the Best Pension Fund House under nPS for the year by Outlook Money. The Company has entered in to strategic tie-ups with three large car manufactures to drive growth in the Motor portfolio. Overall market share among all general insurance companies increased from 1. Awards and recognitions include Marketing Initiative of the Year by India Insurance Awards; and 50 Most Infuential digital Media Professionals by World Marketing Congress. SBISG, a joint venture between State Bank of India and Societe Generale, was set up to offer high quality custody and fund administration services to complete the bouquet of financial services on offer by a financial conglomerate. In order to consolidate the CSR activities of your Bank, its associates and subsidiaries and carrying out the same in a structured, planned and an impactful manner, an idea to establish a separate entity in the form of a Section 8 Company was conceived. While forming the Foundation, it was envisaged that all the SBI Group entities would contribute to the Foundation for carrying out their CSR activities. The Foundation has received necessary approvals from RBI and registration with MoCA for carrying out its activities. Your Bank also aims to promote initiatives that preserve, restore and enhance environment, ecological balance, and natural resources, and improve sanitation and hygiene. Your Bank recognises the importance of good corporate governance and corporate social responsibility in promoting and strengthening the trust of its stakeholders and community at large. The Board of directors hereby states: i. Pradeep Kumar, Managing director - CBG retired on attaining superannuation on 31st October, dr. Hasmukh Adhia, retired from the Board w. Anjuly Chib duggal, was nominated as GoI nominee director in his place w. The Directors place on record their appreciation for the contributions made by the respective outgoing directors, namely, dr. Rajiv Kumar, Shri Harichandra Bahadur Singh, Shri S. Hasmukh Adhia and Shri P. Pradeep Kumar to the deliberations of the Board. The directors welcomed the new directors Ms. Anjuly Chib duggal, Shri Rajnish Kumar, Shri P. The Directors expressed their gratitude for the guidance and co-operation received from the Government of India, RBI, SEBI, IRdA and other government and regulatory agencies. Above all, the Directors thank all the valued clients, shareholders, banks and financial institutions, stock exchanges, rating agencies and other stakeholders for their patronage and support, and take this opportunity to express their appreciation for the dedicated and committed team of employees of your Bank. In FY2016, your Bank scaled up its offerings across various channels — digital branches, mobile, internet and social media Retail Banking is also playing an increasing role in customer acquisition and CASA growth on the liabilities side. Customers also have the facility to track the status of their applications till their loan is sanctioned a. Customers also have the facility to track the status of their applications till their Home loan is sanctioned during FY2016, several initiatives were taken by your Bank to give an additional thrust to its Home loan portfolio. On an average, the volume of cash that our Group ATMs dispense is Rs crore a day during FY2016, your Bank has installed ATMs and Recyclers. Your Bank has introduced dynamic Currency Conversion dCCa value added facility for foreign Master Card holders, whereby cardholders get the market currency conversion rate while withdrawing money at domestic ATMs More than ATMs during FY have been enabled as Talking ATMs for Visually Challenged customers. Thus, the total number of Talking ATMs has gone up to as on 31st March, Every new machine added comes with this feature ab initio Care for the physically challenged is our priority too of our ATMs have ramps to facilitate easy access for the physically challenged persons. Using these kiosks, customers can print their passbooks on their own using barcode technology Green channel counter Green Channel Counter GCC facility has been rolled out at all retail branches of your Bank. The contact centre is also offering transaction services, such as funds transfer within SBI accounts, issue of Fixed deposits, stop payment of Cheque sstatement of accounts, to the customers registered for Phone-banking Your Bank has added the following services that will go a long way in enhancing customer convenience and support Generation of ATM PIN Verification of mobile number update requests received through Internet Banking Issue interest certificate of Home loan, Education loan and deposit accounts Statement of Account through email Phone banking Registration through the Contact Centre and State Bank ATMs Migrating TPIn customers having registered Mobile number to Phone- banking The Contact Centre is popular amongst all sections of the society in rural, semi-urban as well as urban areas. Further, great emphasis has been placed on technology, infrastructure and information security In order to utilize the Contact Centre infrastructure to the fullest and generate revenue for your Bank, it has significantly expanded some of its outbound processes by making calls for Soft recovery of delinquent personal and agri. It also reduces crowding at a branch as the token is generated before the customer reaches the branch Sbi Quick was launched as a one stop application for all non-Financial transactions. Under this initiative, branches were covered during the year and the total number of branches under CEEP stands at as on 31st March, The core objective of the CEEP is to improve crowd management; achieve reduction in wait times and reduction in the service time processing time ; migration of customers to the usage of Anytime Channels such as ATM, CDM, Recyclers, Swayam and Electronic Cheque deposit Machine; and streamlining the process of Account Opening Some key initiatives introduced by CEEP include Rs, Provision of all Anytime channel machines viz. Besides onsite support, advisory services are available through Remote Expert on hi-defnition video conference These branches provide a consistent experience across omni channels and comprise transaction processing stations self-service zoneinformation and interaction stations and advisory rooms. Going forward, your Bank intends to continue its journey of expanding this digital footprint even more widely mobile banking Your Bank, the Banker to digital India, has changed the way its customers do Banking. Three SME ecosystems have been identified as focus areas e-Commerce, taxi aggregators and franchise finance i e-commerce Your Bank has developed a specialized offering for startups active in the e-commerce space. Your Bank has also developed a digital tool to identify any early signs of stress through the e-commerce platform data of the borrower platforms. Your Bank has been putting significant efforts to upgrade its technology to the best in class, on an on-going basis and the capability to offer near JIT Just in Time service delivery environment across its delivery channels With over 23 crore State Bank Group debit Cards as on 31st March,your Bank continues to lead in debit Card issuance in the country. Acceptance of AMEX Card has also been enabled on SBI PoS terminals during FY In addition to offering basic acquiring services on its terminals, your Bank is also providing Value Added Services such as Cash POS facility for cash dispensation to debit card holders DCC - Dynamic Currency Conversion EMI facility Your Bank has also partnered with various Government initiatives for providing payment acceptance infrastructure at the Customer Service Centres CSCs across all geographies d. This transformation is supported by several factors including rapidly rising connectivity, infrastructure development and emergence of new 2015 opportunities Your Bank is serving more than crore farmer borrowers under agriculture segment and is deeply entrenched in rural banking arena. Today, the number of such clubs has reached 10, The key initiatives taken in adopted villages include the construction of community vermi-compost units under clean village concept; the construction of hygienic toilets; installation of Solar lighting in the villages; and conducting awareness programmes through melas and exhibitions Financial inclusion Your Bank has been at the forefront of Financial Inclusion initiatives in the country. Your Bank has successfully leveraged technology for propagating Financial Inclusion by introducing Internet based Kiosk Banking, Card based and Cell phone messaging channels Under the Pradhan Mantri Jan dhan Yojana PMJdYyour Bank has been amongst the most prolific implementers of the programme. Under PMJdY, RRBs have opened lakh accounts and have covered lakh account holders under Prime Minister Suraksha Bima Yojna E. OTHER NEW BUSINESS INITIATIVES Banking system is witnessing new challenges in its traditional business domain from new digitally enabled entrants. The competitive scenario is getting intense and changing rapidly State bank aggregator module Sbiepay Your Bank is the first and only Bank to have its own payment aggregator services. PayPal has also been added as a new channel in SBIePay With its focus on C2G and B2G SBIePay is well positioned to support the Govt. Receipts and a leading player in C2G and B2G segment Enterprise Wide loyalty programme: State bank rewardz In line with our vision statement to keep Customer first during the FYyour Bank launched Enterprise Wide loyalty Programme-State Bank Rewardz to reward its customers for the unstinted trust reposed, across a wide range of services availed by them. Your Bank envisions strengthening its relationship with its customers by recognizing their continued faith and long term association with your Bank Now, customers earn reward points for their various transactions like payment through Debit Cards, Internet Banking transactions, usage of Mobile Banking, Personal Banking, demat Accounts, Agri Business, Home loans and Current Accounts. These reward points can be redeemed for a plethora of redemption options such as SBI Gift Card, Merchandise, recharging of phone or D2H, booking tickets for Movies, Buses and Flights The most important feature of the Programme is the ease of use through a Mobile App- State Bank Rewardz which can be downloaded from the Google Play Store. To further improve customer experience, the reward points can be redeemed at select Merchant partner outlets as well F. Visa fee is being collected through SBI e-pay Direct Benefit Transfer for LPG: Your Bank is the sole banker to process lPG subsidy. Going forward, your Bank will look at sourcing new businesses and generating new income streams, while continuing to offer comprehensive financial solutions to corporate clients with a focus on profitability and risk mitigation CORPORATE BANKING The Corporate Accounts Group CAG is the dedicated vertical handling the large credit portfolio of your Bank. In addition e-trade and various payment solutions are now available during the year your Bank has also stabilized the llMS loan lifecycle Management System platform, a web based portal for assessing credit risk in loan proposals including internal credit rating exercise. The platform will also be used for other ancillary activities related to credit management Vendor Finance. The business of the Unit has clocked significant increase during last three years a. CMP has also started non-tax collection for Government of India through Bharatkosh Portal, hosted by Controller General of Accounts b. As on 31st March,Corporates are registered under e-Trade SBI b e-vFS Electronic vendor Financing Scheme Our relationship with the Corporate World has been further strengthened by financing their Supply Chain Partners through the above two products which are fully automated, secured and robust. Financial institutions business unit Financial Institutions Business Unit is a dedicated vertical created for capturing potential business opportunities from financial institutions viz. In addition, your Bank also targets the local populace in line with its vision to become a truly International Bank Global PRESENCE The number of foreign offices of your Bank is currently Spread across 37 countries in all the continents, your Bank offices include 55 Branches, 20 other offices, 7 Representative Offices and additional offices of 8 Foreign Subsidiaries. In some countries with considerable Indian diaspora, your Bank also engages in retail banking activities for both Indian as well as local customers Highlights Rs, Bank launched USd Travel Card at its Maldives Operations Financial institutions Group The Group facilitates linkages of your Bank with international stakeholders viz Correspondent Banks, Foreign Govt. IBd is also responsible for monitoring timely submission of all RBI returns and FEMA compliance regulators Your Bank is committed to the policy of zero tolerance of non-compliance with regulatory guidelines in all its overseas operations. Status of remediation is placed before the Audit Committee of the Board Your Bank has adopted an Independent Risk Governance Structure covering domestic and international operations. Country-wise and Bank-wise exposure limits are monitored and reviewed on regular basis it initiatives As a truly digital Bank, your Bank has taken a holistic approach to innovate processes to capture and convert data into a simple virtual organization that appears ubiquitous to every customer, offering tailored products to the likes, needs and preferences The initiatives taken at Overseas Offices are Rs, Your Bank completed its multi- country migration from Finale to Finale in 24 countries, which will support a wide range of APIs Application Programming Interfacewealth management and enhanced mobile banking solution Trade Finance Solution- e-Trade from Misys Plc. Your Bank has initiated Enterprise Project Management tool where every IT project is tracked Bank level CRM solution to improve deep understanding of customer needs and behavior, requiring very little remote support Big data analytics to help deliver products on customer preferences and tracking customer stickiness for successful customer retention Bank has begun using Private Cloud selectively and has plan for document Management Solution to capture its records digitally Generation of regulatory and other reports directly from core data under AdF Automatic data fow for International Banking Statistics IBSBank Exposure and Country Exposure STRESSED ASSETS MANAGEMENT Management of Non Performing Assets nPAs is one of the biggest challenges facing the Banking sector today. Besides giving wide publicity through nationwide advertisement through print and social media, the event was internally monitored by setting-up war rooms at administrative offices Despite making concerted efforts to expedite recovery and reducing NPAs, your Bank often faces impediments in the form of legal hurdles, unavailability of strategic investors, lack of buyers for properties put up for auction, among others. It has been rolled out in all the SAM Branches and helps in generating dynamic MIS reports, monitoring the account right from inception, Early Warning System EWS is a software that enables early identification of potential stressed accounts before they become delinquent so that timely action can be taken preventing their further deterioration Electronic Document Management System EdMS is an electronic depository of important documents, transactions, audit trails, accounting reports, workfow processes, compliance documents, etc. It also signals a strong intent of your Bank towards battling out the cases while making last mile recovery efforts Identifying Companies and promoters as Willful defaulters and arranging for display of their names on the websites of Credit Information Companies such as CIBIl, Equifax, CRIF Highmark, Experian Review of nPAs at various levels is done at regular intervals BIFR cases are closely followed up E-auction has been introduced for increased transparency and better price realization Sale to ARCs is also explored in select cases Identifying and engaging with strategic investors for takeover of stressed assets. Telecom Tower, Airport, Thermal Power, Hydro power and nHAI road assets The Oman India Joint Investment Fund OIJIFset up in partnering with State General Reserve Fund of Oman, has completed its investments for Fund-I worth US0 million. With this, Fund-II is expected to be launched shortly during the year, SBI has committed to invest in the SIdBI-nSCIl a nSE subsidiary promoted Trade Receivables e-discounting System TRedS. This has been borne out by initiation of a host of important initiatives, as detailed below, during FY career development System cdS during the FY2016, your Bank has introduced a new system of performance appraisal re-named as Career development System of individual employees in an objective and transparent manner. Various issues raised by the Federations were examined on their merits and necessary actions were taken for their resolution STRATEGIC TRAINING unit In a quest for becoming an organization which is a great place to work, our Bank continues a planned, proactive training process for individual growth and organizational effectiveness. Our Bank has a tie-up for business content across 44 management topics and is mandatory for Senior Executives, which leads to Joint Certification between SBI and HMM mentoring of branches To ensure continued focus on improving and delivering improved customer service on a consistent basis SBI has initiated Mentoring of branches and this is more than the traditional understanding of Mentoring. Currently there are active mentors covering branches Certification Programme on Credit has been launched for Officers of Scales I to V to develop adequate credit skills and to keep them updated at all times. The objective is enabling financial inclusion, training, empowerment and up gradation of skills of people with different Abilities in a systematic way Your Bank has Visually Impaired VI and Hearing Impaired HI Employees along with Orthopedically Challenged staff. The process for systematic and proactive risk identification, assessment, measurement, monitoring and mitigation of various risks in the IT vertical has been initiated atms new developments in atm PRM: Proactive Risk Management tool has been integrated with ATM Switches for Fraud Monitoring RTO Reduction: Recovery Time Objective RTOi. This facility shall allow the customer to withdraw a pre-set favorite amount every time he visits ATM Display of free transactions - The customer shall be informed about the number of free transaction left with him on ATM machine INTERNET BANKING The Corporate Internet Banking CInB is well suited to Small, Medium and large Corporate. In FY2016, we have issued 27,220 Foreign Travel cards and approximately 2,01,900 InR prepaid cards Funds transfer and Settlement Your Bank offers Real Time Gross Settlement RTGSnational Electronic Fund Transfer nEFT and national Electronic Clearing Service nECS fund transfer facilities for qualifying transactions at its branches as well as through internet banking. It also leads the chart on linkedIn and Pinterest among Indian banks According to an article in Economic times, on 9th July,your Bank is amongst the most active banks in addressing customer complaints and queries on social media. Customer Analytics is carried out to make key business decisions via market segmentation and predictive analytics with the objective of enhancing customer revenues through cross-sell, up-sell and customer retention integrated data Strategy, processing and management idSpm : Our Data warehouse is state of the art and contains over TB of data, with GB added daily through 50 million transactions. The data is used across Your Bank for reports and returns monitoring and is provided in in a graphical and indicator manner to business users including interactive and visualization dashboard business intelligence: At SBI, Business Intelligence is at the heart of decision making and also helps optimise risk weighted capital to asset ratio. The processes of movement between primary and alternative sites are tested regularly to ensure the readiness project Single Sign on SSo : Your Bank is leveraging Active directory Federation Services AdFS using the Active directory Services infrastructure for implementation of Single Sign On SSOin a phased manner. The projects are being implemented with support from external consultants RBI Guidelines on Basel III Capital Regulations have been implemented and your Bank is adequately capitalised as per the current requirements under Basel III. This framework visualises empowerment of Business Units at the operating level, with technology being the key driver, enabling identifcation and management of risk at the place of origination The various risks across Bank and the SBI Group are monitored and reviewed through the Executive level committees and the Risk Management Committee of the Board RMCB which meets regularly. The data under parallel run of FIRB is being submitted to RBI Models for estimation of Probability of default Pdloss Given default lGd and Exposure at default EAd are hosted in Credit Risk data mart for computation of IRB capital The monitoring of Prudential Exposure norms for Single and Group borrowers, Substantial Exposure norms and unsecured Exposures is being done regularly Bank regularly conducts Stress Test on its Credit portfolio. Capital charge as per AMA has also been calculated as part of Parallel Run enterprise risk Enterprise Risk Management Project aims to put in place a comprehensive framework to manage various risks. They are reviewed periodically and suitably strengthened to address emerging threats Regular security drills and employee awareness programmes are conducted to ensure security and increase awareness. The SOC has the following attributes Capability of handling 60,000 Events Per Second EPS which is scalable up to 5 lakh EPS Visibility over the security threats from within and outside your Bank and improves Incident Reporting and Management disaster Recovery drills are conducted regularly as part of the implementation of the Business Continuity Management System BCMS. Critical IT Systems of your Bank are compliant with the International BCMS Standard — ISO The application setups undergo security reviews before launching as also are reviewed periodically b. At Present, 14 types of exceptions are being monitored and fagged to the branches for verification by them legal audit Legal Audit was rolled out in all the Business Verticals in June, to cover all loan and Mortgage related documents pertaining to accounts with aggregate exposure of Rs. As on 31st March,legal Audit was commenced in eligible accounts and has been completed in cases audit of outsourced activities Bank has outsourced 56 groups of activities to approximately vendors. A full fudged outsourced audit department headed by a General Manager is being set up to oversee the audit of outsourced activities of your Bank official language Your Bank is committed to the implementation of different provisions of the Annual Programme formulated by the Government of India. Some of the highlights are given below new Website of dept. Gopal das neeraj and renowned Hindi—Urdu poet late Shri nida Fazli felicitated on the eve of Hindi day at Corporate Centre of your Bank all India online Hindi Quiz From this year, we have started an All India online Hindi Quiz in the Rajbhasha Month with different elimination rounds. More than 11,000 staff members from all over your Bank participated with lot of enthusiasm World Hindi day As a responsible Corporate, all offices of your Bank abroad celebrated 11th January th January being a holiday as World Hindi day. Many foreign staff members won prizes in the competitions held on this day RBI banking terminology committee meeting A meeting of the standing committee set up under the aegis of Reserve Bank of India to ensure uniformity in banking terminology in the banking industry was hosted by us at our Corporate Centre at Mumbai on 28th and 29th January The meeting concluded with finalization of Hindi equivalents of banking terms. In this connection, Preventive Vigilance Committee meetings are being held at the branches and at regular quarterly intervals The concept of Whistleblower is another effective tool for Preventive Vigilance. We keep the secrecy of the whistleblower and give protection to them so that they continued proving an effective tool against wrongdoings without fear Where certain lapses of grave nature are observed, such branches are earmarked for Suo-motu investigations so that possible fraudulent activities are checked and remedial measures taken. The sector wise spend during the FY is as under Exhibit Focus area wise Spend amount no. Lack of affordability, unavailability and lack of awareness are the major reasons for a low healthcare index in India The primary focus has always remained to provide the basic infrastructure to ameliorate the conditions of the common man. An Amount of Rs crore was spent for development of sport especially in north eastern region of the country Supporting Education: Education plays a vital role in improving the standard of life of an individual and is viewed as an effective tool for bringing social change through community development. SBI has spent Rs crore during FY for Construction of over toilets and additional water facilities in rural schools of India Support to persons with disabilities pwds : Your Bank always remain in the forefront for Protection and Promotion of the Rights and dignity of Persons with disabilities Pwd. Some specific actions take were An Amount of Rs crore was donated to reputed nGOs in this field for distribution of artificial limbs, calipers, crutches, wheel chairs among others. In recognition of the leading role in Renewable Energy financing, your Bank received the Outstanding Performance Award — from the Government of India national donations assistance during natural calamities : Bank has always been in the forefront to help the states affected by natural calamities. Name of the SBI Total Agg. Services Private limited a. The Company has booked gross revenue of Rs crore during the period ended 31st March, as against crore in FY Sbicap ventures limited Svl SVl is a wholly owned subsidiary of SBI Capital Markets limited. SVl is acting as the Asset Management Company The neev Fund had its Initial close on 10th April, and current corpus of the Fund is Rs crore. SVl has started earning Management Fee SBICAP UK LIMITED SUL SUl is a wholly owned subsidiary of SBI Capital Markets limited. Relationships are being built with FIIs, Financial Institutions, law Firms, Accounting Firms, etc to market the business products of SBICAP SBICAP SINGAPORE LIMITED SSGL SSGl, is a wholly owned subsidiary of SBI Capital Markets limited. It has been specializing in marketing of Foreign Currency Bonds and securing clients for SBICAP SEC SBICAP TRUSTEE CO. LIMITED STCL SBICAP Trustee Co limited STClis a wholly owned subsidiary of SBI Capital Markets limited. SBI DFHI LIMITED SBI DFHI SBI DFHI limited is one of the largest standalone Primary dealers Pd with a pan India presence. SBI life has a unique multi—distribution model comprising Bancassurance, Retail Agency, Alternate, Group Corporate and Online Channels for distribution of insurance products The Company has proven its market leadership again in FY16 with a growth rate higher than the growth of the industry. The proposed divestment by SBI has been approved by SBI SBI life has reinforced its outreach initiatives in the realm of child welfare, across different parts of the country, in line with its avowed CSR goals. Each of them is aimed to address a specific need and to contribute to comprehensiveness of the product portfolio E. SBI FUNDS MANAGEMENT PRIVATE LIMITED SBIFMPL SBIFMPl, the Asset Management Company of SBI Mutual Fund, is the 5th largest Fund House in terms of Average Assets Under Management and a leading player in the market with over million investors. SBI GLOBAL FACTORS LIMITED SBIGFL SBIGFl is a leading provider of factoring services for domestic and international trade. By virtue of its membership of Factors Chain International FCIthe Company is able to ameliorate credit risk from export receivables under the 2 factor model The Company has turned around in FY Company has achieved PBT of Rs crore as compared to loss of Rs crore last year and PAT of Rs crore as compared to loss of Rs crore last year. The Company was adjudged the Best Pension Fund House under nPS for the year by Outlook Money H. The proposed divestment by SBI has been approved by SBI Awards and recognitions include Marketing Initiative of the Year by India Insurance Awards; and 50 Most Infuential digital Media Professionals by World Marketing Congress i. Sbi Foundation SbiF In order to consolidate the CSR activities of your Bank, its associates and subsidiaries and carrying out the same in a structured, planned and an impactful manner, an idea to establish a separate entity in the form of a Section 8 Company was conceived. RESPONSIBILITY STATEMENT The Board of directors hereby states: i. ACKNOWLEDGEMENTS during the year, dr.
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It was a beautiful service which lingered on after the night was over and brought smiles to us neighbours, as we reminisced about it the days after.
The rule is comprised of two standards, one for Construction and one for General Industry and Maritime.