The exhibition, curated to mark 76 years of the adoption of the Constitution of India, took visitors through the Nation’s constitutional journey. The showcase highlighted the vision, values and foundational spirit embedded in the Constitution.

Speaking on the occasion, Shri. Challa Sreenivasulu Setty, Chairman, SBI, said, “The Constitution of India is not just a legal document, it is the guiding light that shapes our responsibilities, aspirations and collective progress. As we celebrate 76 years of its adoption, it is important that each one of us reflects on the duties it entrusts to us as citizens. Through this exhibition and programmes across the country, we hope to inspire greater constitutional awareness, civic responsibility and pride in our democratic heritage.”

Across the Bank’s network, the leadership teams and employees, including those in Local Head Offices (LHOs), Administrative Offices (AOs), Regional Business Offices (RBOs), Centralised Processing Centres (CPCs) and over 23,000 branches, took a collective oath to uphold constitutional principles and discharge their duties with integrity and responsibility.

Samvidhan Diwas is observed annually to mark the adoption of the Constitution of India on November 26, 1949, which came into effect on January 26, 1950.

SBI’s observance of Constitution Day reinforces the Bank’s commitment to fostering constitutional values and civic awareness across its workforce and the communities it serves.

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SBI became the largest shareholder of YBL in March 2020 under the Yes Bank Limited Reconstruction Scheme, 2020, as notified by the Central Government. Subsequently, SBI had also acquired additional shares as part of follow-on public offer by YBL in July 2020. Post the aforesaid divestment, SBI will continue to remain a shareholder in YBL with a shareholding of 10.8% (approx.) of YBL shares (Residual shareholding).

The partial stake sale by SBI and other shareholder Banks in YBL to SMBC represents the largest cross-border investment in the Indian banking sector. The transaction has received the necessary regulatory and statutory approvals including from the Reserve Bank of India and the Competition Commission of India.

SBI Chairman, Shri Challa Sreenivasulu Setty said, “Yes Bank restructuring plan by RBI in 2020 was an innovative, first of its kind public sector – private sector partnership that was fully supported and facilitated by Government of India. We are incredibly proud of the journey we have shared with Yes Bank in supporting their transformation since we came onboard as the major shareholder in 2020. This is perhaps the best example of protecting the customer interests of a large bank by collaborative efforts of SBI and other banks under the guidance of Government of India and RBI. We are excited to welcome SMBC, a marquee financial institution, as a strategic partner through the largest cross-border transaction in India’s banking sector. Their global expertise will be a great complement to Yes Bank’s ongoing progress and future ambitions”.

SBI and the other selling Shareholder Banks were advised by SBI Capital Markets Limited as their financial advisor and S&R Associates as their legal advisor.

The MoU also introduces complimentary insurance provisions, including air accident death insurance of ₹1.60 crore along with up to ₹1 crore coverage on RuPay Debit Cards, personal accident permanent total disablement cover of ₹1 crore, and permanent partial disability cover of up to ₹80 lakh. This initiative is seen as a compassionate, employee-centric step, especially aimed at frontline Group C railway personnel and other staff, offering them financial security and peace of mind.

Under her leadership, SBI extended strong support to several key initiatives of the Department of Pension & Pensioners’ Welfare (DoPPW), significantly enhancing services for pensioners across the country. Her dedication and commitment were instrumental in driving initiatives aimed at making pension processes more efficient and accessible.

SBI congratulates Smt Kacker on this well-deserved recognition, celebrating her exemplary service and lasting contributions to improving pensioners’ welfare.

The hackathon, focused on the theme, ‘Detecting Loan Defaulters and Tracking Them in the Digital Ecosystem’ was hosted by SBI, at IIT Guwahati. Over a span of 90 days, participating teams worked intensively on developing solutions and prototypes, showcasing the spirit of entrepreneurship and problem-solving.

Shri M. Nagaraju, Secretary, DFS congratulated the winners and commended SBI-IIT Guwahati partnership for inspiring young innovators. Speaking at the event, he emphasised the goal of fostering entrepreneurial talent and collaboration between students and banks. Stressing upon the importance of continuous innovation, cybersecurity, and supporting startups to strengthen the financial sector, he envisioned India’s growth by 2047, emphasising on the vital role to be played by the financial sector. He thanked SBI and the organisers and encouraged students to aim higher and wished them success for future competitions.

Shri CS Setty, Chairman, SBI, said, “SBI is proud to collaborate with the Department of Financial Services and IIT Guwahati in promoting fintech and startups. Our technological advancement such as YONO and UPI, along with incubation initiatives for MSME lending and cybersecurity, reflect our commitment to driving India’s tech and financial growth. Industry-academia collaboration is essential to build future-ready solutions, and initiatives like FINNOVATION are vital in fostering that ecosystem. I congratulate all the winners and urge them to continue innovating for India’s financial future”.

The event concluded with a strong message of encouragement to young innovators, reaffirming the role of hackathons like “FINNOVATION” in shaping India’s digital and financial future.

The hackathon, focused on the theme, ‘Detecting Loan Defaulters and Tracking Them in the Digital Ecosystem’ was hosted by SBI, at IIT Guwahati. Over a span of 90 days, participating teams worked intensively on developing solutions and prototypes, showcasing the spirit of entrepreneurship and problem-solving.

Shri M. Nagaraju, Secretary, DFS congratulated the winners and commended SBI-IIT Guwahati partnership for inspiring young innovators. Speaking at the event, he emphasised the goal of fostering entrepreneurial talent and collaboration between students and banks. Stressing upon the importance of continuous innovation, cybersecurity, and supporting startups to strengthen the financial sector, he envisioned India’s growth by 2047, emphasising on the vital role to be played by the financial sector. He thanked SBI and the organisers and encouraged students to aim higher and wished them success for future competitions.

Shri CS Setty, Chairman, SBI, said, “SBI is proud to collaborate with the Department of Financial Services and IIT Guwahati in promoting fintech and startups. Our technological advancement such as YONO and UPI, along with incubation initiatives for MSME lending and cybersecurity, reflect our commitment to driving India’s tech and financial growth. Industry-academia collaboration is essential to build future-ready solutions, and initiatives like FINNOVATION are vital in fostering that ecosystem. I congratulate all the winners and urge them to continue innovating for India’s financial future”.

The event concluded with a strong message of encouragement to young innovators, reaffirming the role of hackathons like “FINNOVATION” in shaping India’s digital and financial future.

Bengaluru, August 21, 2025: State Bank of India (SBI), the country’s largest bank, inaugurated its Centre of Excellence (CoE) for MSMEs at the State Bank Academy (SBA), Gurugram. The Centre has been established with an objective of strengthening the MSME ecosystem through capacity building, research, and industry collaboration, thereby contributing to India’s vision of becoming a developed nation. The Centre was inaugurated by Shri M. Nagaraju, Secretary, Department of Financial Services (DFS) and Shri C.S. Setty, Chairman, in the presence of Shri Vinay M. Tonse, MD (RB&O), Shri Surender Rana, DMD (Retail-Agri, SME & FI), Shri Anindya Sunder Paul, DMD (SME & SCF) and Smt. Suranjana Dutta, CGM STU. SBA is an institute imparting specialized training in Credit, International Banking, Risk & Compliance and carrying out Research & Development in various spheres of banking.

Shri M. Nagaraju, Secretary, Department of Financial Services, said, “MSMEs are the true engines of growth, creating widespread employment and driving prosperity in rural India, which is critical for our journey towards becoming a developed nation. I urge this SBI Centre of Excellence to benchmark itself against the best MSME institutions in the country. My expectation is that the CoE will engage in making case studies and undertaking research, creating a rich repository of knowledge and sharing it online for the benefit of all, especially those in remote areas. Continuous innovation and deep engagement with entrepreneurs, fintechs, and startups will be the key to its success.”

Speaking on the occasion, Shri C.S. Setty, Chairman, SBI, stated, “As the largest lender to MSMEs, with the widest network of SME branches, SBI is responsible to build capacity and the Centre of Excellence will serve as a hub of ideas and innovation, supporting the development of new SME-focused products and processes that can benefit the entire banking sector.”

Shri C.B.K. Singh, GM & Director, State Bank Academy, said, “The Centre has been established based on the vision articulated by the Chairman and would play a significant role in supporting the growth and development of the MSME sector.”

The CoE has been designed with an inclusive approach, engaging with MSME promoters, startups, industry associations, academia, government, regulators, and banking professionals. This collaborative model will ensure that the Centre’s initiatives remain relevant, impactful, and aligned with the needs of the sector.

·         Complete waiver on processing fee

·         Lowest interest rate of flat 10.50% to all Defence personnel till 30th September 2025

Bengaluru, August 14, 2025: State Bank of India, the country’s largest bank celebrates the 79^th Independence Day by launching a special personal loan scheme for Agniveers – young men and women serving in the armed forces under the Government of India’s short-term Agnipath recruitment programme. Under this loan scheme, Agniveers with a salary account at SBI can avail loans upto ₹ 4 lakh without any collateral and with a complete waiver of processing fee. The repayment tenure will align with the term of the Agnipath scheme, offering maximum flexibility and convenience to our nation’s brave hearts transitioning from civilian life. In addition to this, the bank is offering lowest interest rate of flat 10.50% to all Defence personnel till 30th September 2025.

While launching the product, Shri C S Setty, Chairman, SBI said, “On the auspicious day of Independence, we are honored to launch this exclusive financial product for Agniveers- the young warriors who are serving our nation with dedication and courage. At SBI, we believe that those who are protecting our freedom, they deserve our unwavering support as they build their futures. This zero-processing fee is just the beginning as we continue to create solutions that will empower India’s brave hearts in the years to come.”

These initiatives build on the Bank’s long-standing commitment to the welfare of India’s armed forces through its Defence Salary Package that has long been available to Agniveers. The package provides a host of benefits such as zero-balance accounts, free international gold debit cards, unlimited free ATM transactions at SBI ATMs nationwide, waiver of annual maintenance charges on debit cards, complimentary personal accident insurance (₹ 50 lakh) and air accident insurance (₹ 1 crore), as well as coverage for permanent disability (partial and total) up to ₹ 50 lakh, among other privileges.

As part of this nationwide hiring effort, opportunities will be available across SBI’s vast network of branches and offices, offering the aspirants a chance to begin their career with a dynamic and growth-driven institution. Commenting on the recruitment drive, bank’s Chairman CS Setty said that onboarding the new talent pool is central to the bank’s aim of strengthening its human resource capabilities by implementing structured skill development programmes aligned with evolving functional and technological requirements.

This latest recruitment drive is a testament to SBI’s continued focus on talent development as the Bank, which employs over 2.36 lakh employees, remains deeply committed to shaping the next generation of banking professionals and driving sustained financial progress across the country.