SBI Becomes the First Bank to Become a Trading Cum Clearing Member at IIBX

  • SBI is the largest commercial bank in India, with over 30 lakh Indian families and a home loan portfolio exceeding Rs. 7.25 lakh crore. 
  • The bank’s entry into the IIBX market aligns with RBI guidelines, allowing branches of an Indian Bank in GIFT IFSC to act as Trading Members (TM) or Trading and Clearing Members (TCM) of IIBX. 
  • SBI’s digital strategy has resulted in 61% of new savings accounts being opened through the integrated digital and lifestyle platform YONO in Q4FY24. 
  • The bank also has the highest number of followers on Facebook and Twitter amongst all banks worldwide.
Posted in Current Affairs.

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