CS Setty: State Bank of India (SBI) has prepared to change itself according to the changing needs. According to SBI Chairman CS Shetty, he is going to make such changes in Recurring Deposit (RD) and Systematic Investment Plan (SIP), which people will find attractive. Along with this, the financial products offered by the bank will also be changed. CS Shetty believes that we have to make our products keeping in mind the financial needs of the customers. To increase deposits, we have to give them various investment options. SBI is preparing for this. We will focus on increasing customer service by keeping interest rates balanced.
Customers who are thinking seriously about assets and investments
According to SBI Chairman CS Shetty, India’s economy is progressing. Besides, the financial awareness of customers is also increasing. He is thinking seriously about his assets and investments. Their priorities are changing. People no longer want to invest their money in only one type of asset. Banking products should always be an option for people, hence we are preparing such schemes which can attract the youth.
Necessary changes will be made in FD, RD and SIP
SBI wants to adapt traditional investment schemes like RD to the new times. We are also thinking of bringing combo products. There will be benefits of FD and RD in this. Besides this, SIP facility will also be provided. These products will be digital and the customer will be able to check them anytime. CS Shetty said that the thinking of the youth is changing. Their ways of investing have also changed. We have to understand it and make products according to Gen Z.
CS Shetty said- SBI will not get trapped in rate war
CS Shetty said that SBI is making many efforts to increase deposits. We have a large network of branches, which is spread across the country. We are in touch with our customers. Apart from this, the search for new customers is also going on. However, SBI will not get trapped in the rate war. We will keep the interest rates balanced. 50 percent of our FDs have now become digital. We are opening around 60 thousand savings accounts every day. Our next target is to take our net profit to Rs 1 lakh crore.
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