State Bank of India

February 2, 2026 9:22 AM

Budget to make India a global hub for innovation, advanced manufacturing: SBI Chairman

The Budget for 2026-27 is a significant step toward making India a global hub for innovation and advanced manufacturing with global competitiveness as the lynchpin, says Challa Sreenivasulu Setty, Chairman, State Bank of India. The Budget maintains policy continuity, tax predictability while attempting a fine balance between rural and urban, legacy and sunrise sectors. "This year’s Budget has both predictable and futuristic elements. The predictable part is the basic structure which remains ...

January 19, 2026 10:32 AM

India set to transition to upper middle income country by 2030: SBI Research

India is set to reach $4,000 per capita income by 2030, enabling it to transition to an upper middle-income country and join China and Indonesia in the current classification, an SBI Research report said on Monday. India took 60 years since Independence to reach a $1 trillion economy and achieved $2 trillion in another seven years, in 2014. The country reached $3 trillion in another seven years in 2021 and $4 trillion in another four years, in 2025. “India is likely to achieve $5 trillion i...

October 15, 2025 1:29 PM

PMAY 2.0 boosts digital payment adoption, fuels financial inclusion among low-income borrowers: SBI Research

The Pradhan Mantri Awas Yojana-Urban 2.0 (PMAY-U 2.0) is not only fulfilling the dream of home ownership for millions of urban poor and middle-class families but is also driving a remarkable transformation in digital payment behaviour, noted a research report from the State Bank of India (SBI). The scheme, which provides affordable housing loans at subsidized interest rates, has become a catalyst for enhancing both discretionary and non-discretionary spending, says the report. "PMAY is now act...

September 1, 2025 11:09 PM

Indian Railways, SBI ink MoU to provide enhanced insurance benefits for railway employees

Indian Railways and the State Bank of India on Monday signed a Memorandum of Understanding (MoU) to provide enhanced insurance benefits to railway employees maintaining salary accounts with SBI. The agreement was signed in the presence of the Minister for Railways, Information & Broadcasting, Electronics & Information Technology, Ashwini Vaishnaw. As part of the MoU, the insurance cover for accidental death has been increased to ₹1 crore. Earlier, employees were covered under the Cent...