Banking Sector Crucial to Achieving Viksit Bharat Vision: SBI Chairman C S Setty

SBI Chairman C S Setty Outlines Vision for Viksit Bharat

The banking sector in India will play a transformative role in mobilizing capital, fostering entrepreneurship, supporting infrastructure development, and accelerating financial inclusion as the country advances towards its Viksit Bharat vision, said SBI Chairman C S Setty.

In the annual report released on Wednesday, Setty emphasized the bank's commitment to supporting India's growth aspirations. The bank will continue to invest in technology, data analytics, artificial intelligence, cybersecurity, and digital infrastructure to create a more intelligent, agile, and responsive banking ecosystem.

The last financial year was a landmark year for the bank, with the bank strengthening its market leadership across key business segments while continuing its transformation into a technology-driven, customer-centric financial institution. The next phase of transformation will focus on delivering deeply personalized, seamless, and intuitive banking experiences across all customer segments and channels.

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Physical banking will continue to remain an important pillar of the bank's relationship-led model. The bank will integrate the strength of its branch network with the speed and convenience of digital platforms, creating a truly omni-channel banking experience for customers.

Initiatives under Project SARAL will continue to drive this transformation through process re-engineering, standardization, digital integration, and greater use of automation and artificial intelligence.

The bank sees significant opportunities in strengthening its wealth management franchise, expanding relationship-led advisory services, and leveraging technology-enabled engagement models to deepen customer relationships across segments. Setty emphasized the importance of building a granular, stable, and low-cost deposit base while further strengthening customer trust and loyalty.

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As the bank moves forward, its vision is to build a future-ready institution that combines technological leadership with human trust and business growth with social responsibility. Setty stressed the importance of human capital in the bank's transformation journey and emphasized that risk management and governance will remain foundational to the bank's growth strategy.