The State Bank of India’s online services have been experiencing disruptions, with widespread issues reported with internet banking, mobile banking, and online login. According to outage tracking website Downdetector, over 800 users have reported issues, with the majority (62%) affected by mobile banking, followed by online banking (32%), and online login (6%). SBI has acknowledged the service disruptions and confirmed they are working to resolve the issues.

In a social media post, SBI explained that the technical issues are causing intermittent problems with UPI services, but assured that services will be resumed by 3:30 pm on March 11, 2025. In the meantime, customers can use UPI-lite services for uninterrupted service. The outage has not only caused frustration but also sparked humor, with Twitter users sharing memes and reports of the issues they are facing.

The memes and jokes include puns and lighthearted remarks about the bank’s problems, with some users even poking fun at SBI’s reputation for technical issues. The online community has been sharing their experiences and responses, from annoyance to amusement. Despite the disruptions, SBI has kept its customers informed of the actions being taken to resolve the issues and is working to restore services as soon as possible.

The outage has highlighted the importance of robust digital infrastructure and the need for banks to be proactive in maintaining the reliability of their online services. While the situation is inconvenient, it is also an opportunity for SBI to assess and improve its systems to prevent similar disruptions in the future. As the bank works to resolve the issues, it is reassured that customers will find ways to make light of the situation, turning a frustrating experience into a lighthearted one.

State Bank of India (SBI) has launched two new initiatives, “SBI Asmita” and “Nari Shakti” platinum debit card, to promote women empowerment and entrepreneurship. SBI Asmita is a collateral-free digital loan with a low-interest rate, specifically designed for women entrepreneurs. The loan is backed by advanced technology, which uses APIs to streamline the lending process and eliminate physical document verification. Additionally, the bank will provide top women entrepreneurs with entrepreneurial and management training to help them grow their businesses.

The “Nari Shakti” platinum debit card is a RuPay-powered card designed exclusively for women, made from 100% recycled plastic. It offers features such as entertainment, shopping, travel, and lifestyle benefits, among others. The launch of these initiatives is part of SBI’s commitment to women empowerment and its goal to accelerate action on women’s issues.

SBI’s Chairman, Challa Sreenivasulu Setty, said that SBI Asmita is a significant step towards providing faster and easier access to finance for women-led MSME units. He emphasized the bank’s focus on innovation and customer-centricity to revolutionize the MSME lending space, with a special focus on women entrepreneurship.

MD – Retail Banking & Operations, Vinay Tonse, noted that SBI Asmita offers a unique proposition to micro-SME units to fulfill their business requirements through digital mode. He also highlighted the launch of the “Nari Shakti” debit card, which is more than just a banking product, but also a step towards progress, inclusion, and convenience.

SBI’s launch of SBI Asmita and “Nari Shakti” debit card demonstrates its commitment to fostering women empowerment through innovative banking solutions, aligning with the theme of International Women’s Day 2025, “Accelerate Action”. The initiatives are expected to have a positive impact on women entrepreneurship and financial inclusion, ultimately contributing to the growth of the economy.

SBI, a Japanese financial giant, has made history by becoming the first Japanese financial institution to receive a key license to process transactions in USDC, a stablecoin pegged to the US dollar. This milestone paves the way for SBI to further expand its digital asset services and offerings in Japan.

The license was granted by Japan’s financial regulator, the Financial Services Agency (FSA), which has been actively promoting the development of the country’s fintech industry. The authorization allows SBI to operate a Virtual Currency Exchange Service for Digital Assets, enabling the processing of transactions in USDC, a stablecoin issued by Circle, a leading fintech company.

With this license, SBI can now provide USDC-related services, such as buying, selling, and exchanging USDC for other digital assets or traditional currencies. This marks a significant step forward for Japan’s digital asset market, as it brings more stability and legitimacy to the country’s growing cryptocurrency ecosystem.

The development is also expected to attract more foreign institutional investors and businesses to Japan, as it demonstrates the country’s commitment to regulatory clarity and oversight. This, in turn, is likely to boost the country’s fintech sector, which is already seeing significant growth.

SBI has been at the forefront of Japan’s fintech revolution, with a strong focus on innovation and development. The company has been exploring the potential of blockchain and distributed ledger technology for some time, and this latest move is a testament to its commitment to the space.

Japan has been a leader in regulating digital assets, with the passage of the Prevention of Money Laundering Act in 2020. Since then, the country has been steadily developing a more comprehensive framework for the regulation of digital assets, which has attracted both domestic and foreign investment.

The significance of SBI’s license cannot be overstated. It marks a major milestone in Japan’s fintech journey, as it enables the country to further integrate digital assets into its financial system. The move is likely to have a positive impact on the wider fintech industry, as it demonstrates the feasibility of digital asset-based transactions in a regulated environment. As a result, SBI’s license is expected to pave the way for more Japanese financial institutions to follow suit, further accelerating the growth of the country’s fintech sector.

The State Bank of India (SBI) has conducted an unprecedented feat by organizing a record 126 financial literacy camps in a single day in Karnataka, India. This initiative aimed to empower women from diverse backgrounds, including Self-Help Group (SHG) members, Anganwadi workers, agricultural workers, entrepreneurs, ASHA workers, students, and homemakers. A total of 5,429 women participated in these camps, which were set up to promote financial literacy and knowledge.

According to Joohi Smita Sinha, Chief General Manager of SBI, empowering women financially is a vital factor in driving economic growth, fostering stronger households, and creating a more resilient economy. Financially empowered women can play a crucial role in achieving inclusive growth and national progress. As the largest and most trusted financial institution in the country, SBI is committed to bridging the financial knowledge gap and creating a more inclusive and secure future for all.

The financial literacy camps aimed to educate participants on various aspects of personal finance, including budgeting, saving, and investing. The camps also provided information on government schemes, insurance, and other financial products, as well as offered guidance on how to manage debt and make informed financial decisions.

This initiative marks a significant milestone in SBI’s efforts to promote financial inclusion and empower women in Karnataka. By providing access to financial knowledge and resources, SBI is helping to break the cycle of poverty and promoting economic growth in the region. The success of this initiative demonstrates the bank’s commitment to making a positive impact in the lives of millions of people and creating a more equitable society.

A daring robbery took place in Raviryal village, Rangareddy district, as a four-member gang stole around Rs 30 lakh in cash from an SBI ATM center on Saturday night. According to the police, the gang arrived at the ATM center at 1:55 am in a car, and one of the members sprayed paint on the surveillance camera’s lens. They then cut off the power supply to the emergency alarm and used an iron rod and gas cutter to open the cash dispensing machine. The gang worked quickly, collecting the cash and leaving without triggering any alarms. The bank officials were alerted the next morning, and the police were informed of the robbery.

The police have formed special teams to track down the suspects, suspecting that an interstate professional gang is involved. The investigation is based on CCTV footage from cameras in the area, which is being analyzed to identify the accused. The police are working to determine the exact size and organization of the gang, with the director of the Maheshwaram police station, P Sunitha Reddy, stating that it appears to be a professional gang. The rapid speed and precision of the operation, completed within four minutes, suggest that the gang has likely carried out similar heists in the past.

Unidentified armed miscreants allegedly robbed a State Bank of India (SBI) branch in Odisha’s Mayurbhanj district, making off with approximately Rs 27 lakh. The incident occurred around 10:15 am when five masked men, riding two motorcycles, arrived at the bank. Three of them entered the building, with one of them brandishing a gun and threatening the employees. The robbers also assaulted some of the employees, leaving them injured. They then fled the scene on their motorcycles, leaving behind a trail of chaos.

The police were quick to respond to the scene and began investigating the incident. They are currently examining the available CCTV footage to identify and trace the culprits. A scientific team and a dog squad have been roped in to assist in the investigation.

According to reports, the robbers targeted the Bahalda branch of SBI in Mayurbhanj district, causing significant financial losses to the bank and emotional distress to the employees. The police are working tirelessly to apprehend the perpetrators and recover the stolen money. The incident has sent shockwaves in the region, raising concerns about the lack of adequate security measures at the bank. The police investigation is ongoing, and more details are expected to emerge as the probe unfolds.

The State Bank of India (SBI) has initiated the application process for the recruitment of Concurrent Auditor positions. The recruitment aims to fill 1,194 vacancies, and the last date to submit applications is March 15, 2025. However, the vacancies are only for retired bank officers of SBI and its erstwhile associate banks on a contract basis.

To be eligible, candidates must upload all required documents, including assignment details, ID proof, and age proof. The selection process will consist of shortlisting and an interview, where meeting the minimum qualifications and experience does not guarantee an interview call. The Bank’s Shortlisting Committee will set the criteria, and shortlisted candidates will be invited for the interview, which carries 100 marks. The final merit list will be based on interview scores, with candidates ranked by age in case of a tie.

Retired officers will be entitled to 30 days of leave during the one-year engagement period, subject to approval from the Bank or the reporting authority. Sundays and holidays falling within the leave period will not be counted. The Bank reserves the right to approve or reject leave applications based on administrative requirements.

Candidates are advised to ensure they fulfill the eligibility criteria for the post as of the date of eligibility. It is crucial to note that candidature/shortlisting is provisional and subject to satisfactory verification of all details/documents with the originals when the candidate reports for the interview (if called). Overall, the SBI Concurrent Auditor Recruitment 2025 offers an opportunity for retired bank officers to engage in a contractual capacity, with a comprehensive benefits package.

A recent report by the State Bank of India has found that the impact of US tariff reciprocity on Indian exports will be minimal, with only a 3-3.5% decline in exports to the US, even if the US imposes higher tariffs ranging from 15-20%. This is due to India’s strategy of export diversification, value addition, and exploration of new trade routes. The report notes that India’s export strategy is evolving to reduce dependence on a single market, with growing trade ties in Europe, the Middle East, and other regions.

The report also highlights the dynamic nature of India’s tariff policies, which have increased from 11.59% in 2018 to 15.30% in 2022, in contrast to the relatively stable US tariffs on Indian goods. This shift reflects India’s more assertive trade policy aimed at balancing trade relations and protecting domestic industries. India is focusing on adding value to its exports, shifting from raw materials to finished goods and high-value products, which enhances export earnings and reduces the impact of tariff hikes.

The report suggests that India is also working on alternative trade routes, connecting Europe, the Middle East, and the US, reducing logistical costs and improving efficiency. This restructured supply chain approach is expected to strengthen India’s position in international trade despite global uncertainties. Overall, the report concludes that while US tariffs may impact Indian exports, India’s proactive trade policies, export diversification, and supply chain realignment will mitigate the impact, ensuring steady export growth in the long run.

A couple, both retired employees of the State Bank of India, have fallen victim to a scam that has left them out of pocket to the tune of Rs 6.74 lakh. The incident took place when the woman, who receives her pension in a joint account with her husband, attempted to transfer a payment to a cable operator using the internet banking facility of the bank. However, in her haste, she inadvertently entered an incorrect IFSC code, leading to a series of unfortunate events.

After discovering the mistake, the woman searched online for the branch linked to the incorrect code and found that it belonged to a bank in Aligarh. She then contacted the bank’s customer care number and, unaware of the scam, gave out her personal details to the person who claimed to be the bank manager. The fraudster, posing as the bank manager, assured her that he would help her recover the lost funds, but instead, proceeded to siphon off the entire amount.

The Kalachowki police are now investigating the case to identify the scammer and recover the stolen funds. The police have urged the public to be cautious while sharing personal details online and to always verify the authenticity of the information provided by individuals claiming to be bank officials or representatives. The incident serves as a stark reminder of the importance of being vigilant and taking necessary precautions to safeguard one’s personal and financial information.

In this case, the couple’s mistake of entering an incorrect IFSC code led to a chain of events that resulted in them falling prey to a cunning scam. The incident highlights the need for individuals to be more cautious and verify the authenticity of online transactions, particularly when sharing sensitive information. It is crucial to be aware of potential scams and take necessary steps to protect ourselves from falling victim to such fraudulent activities.