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SBI opens Global NRI Center in Kochi

State Bank of India has launched its Global NRI Center in Kochi. The center is a one-stop customer service point for all NRI banking-related activities. At the center, customers will also get other services like wealth management. Besides, customers can also avail of the services of the chatbot, SBI Intelligent Assist. Rajnish Kumar, chairman, SBI, said Kerala receives the maximum remittances and there has been a consistent growth in NRI deposits of the bank in the state. That is why the bank has chosen to open the center in the state, he added. He also mentioned of the total deposits in the state, 8% comes from NRI accounts. He said technological advancements are creating opportunities to modernize and de-risk the way vital remittances are transferred across borders. Formal remittances are also seen as a key stepping stone to improving financial inclusion by encouraging more people to have bank accounts, he added. The bank is aiming to centralize its NRI operations which are currently spread across 16 circles, 92 NRI branches in 66 different locations and several NRI-intensive branches through the global center.

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