SBI Launches Project Kuber With 5 Banking Hubs

The SBI has launched Project Kuber in Bengaluru to help in increasing its market share in liability products for individuals as well as businesses.

The State Bank of India (SBI) has launched Project Kuber, which involves the establishment of four transaction banking hubs and one corporate salary package hub in Bengaluru. 

The primary objective of this project is to cater to the various banking needs of customers and increase SBI’s market share in liability products. 

The hubs, strategically located at different points in Bengaluru, will serve as comprehensive centers for payment and collection-related requirements.

These hubs aim to provide a one-stop destination for both corporate and non-corporate clients, offering a range of services from account opening to digital onboarding onto SBI’s platforms. 

A dedicated team of professionals will be available to assist business partners and customers in accessing digital banking services such as Yono Business, e-Payments, and Cash Management Products.

By launching Project Kuber, SBI intends to strengthen its relationships with corporate clients by enabling the integration of their business processes with banking services. 

This move reflects SBI’s commitment to enhancing convenience, efficiency, and digital access for its customers.

Additionally, SBI Life Insurance has taken steps to integrate policyholders of Sahara India Life Insurance Co. Ltd (SILIC) into its systems. 

This integration will ensure seamless service delivery and streamline operations for policyholders who were previously associated with SILIC.

The State Bank of India is attempting to expand its presence, improve customer experience, and leverage digital solutions through the Project Kuber to fulfill the evolving banking needs of individuals and businesses.

As per reports SBI’s another subsidiary business SBI Life is going to take over Sahara India Life Insurance business. 

The insurance regulator IRDAI has asked SBI Life Insurance to acquire the troubled Sahara Life business that includes 2 lakh policies as well as the policyholders’ assets.

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