SBI Wins Best Bank in India Award 2024- State Bank of India (SBI) has been awarded the prestigious title of “Best Bank in India for 2024” by Global Finance Magazine. The recognition was presented during the magazine’s 31st Annual Best Bank Awards, held in Washington, alongside the Annual Meetings of the IMF and the World Bank. The award acknowledges SBI’s dedication to exceptional banking services and its role in promoting financial inclusion across India.
SBI’s Key Achievements for Wins Best Bank in India Award 2024
| Key Areas | Details |
| Award Title | Best Bank in India for 2024 |
| Recognizing Body | Global Finance Magazine |
| Event | 31st Annual Best Bank Awards |
| Chairman | CS Setty |
| Key Digital Platform | YONO |
| Digital Savings Accounts | 63% of new accounts opened via YONO in FY25 Q1 |
| Loan Disbursement | ₹1,399 crore through YONO’s pre-approved loans |
SBI Chairman Accepts Prestigious Award
CS Setty, Chairman of SBI, accepted the award, expressing pride in the bank’s commitment to customer satisfaction and financial inclusion. He highlighted that the bank’s consistent efforts to innovate and cater to the needs of its vast customer base have earned it this recognition on a global platform.
“This award is a testament to our focus on delivering high-quality banking services and our mission to make banking accessible to all,” Setty said.
Significance of Global Finance Best Bank Awards
The Global Finance Best Bank Awards are recognized worldwide for their credibility, providing a benchmark for assessing financial institutions. These awards are particularly important for corporate decision-makers, offering valuable insights, especially during challenging economic conditions. Winning this award places SBI in a prestigious league of global banks, reinforcing its leadership in the Indian banking sector.
SBI’s Digital Transformation and Expansion
SBI continues to lead in digital innovation with its YONO platform, which has been a key factor in its success. The bank has over 22,500 branches and 62,000 ATMs across India. In the first quarter of FY25, 63% of new savings accounts were opened digitally via YONO. Additionally, SBI disbursed ₹1,399 crore in pre-approved personal loans through its digital platform, highlighting its commitment to a seamless digital banking experience.
SBI Wins Best Bank in India Award 2024 Summary
- SBI awarded “Best Bank in India for 2024” by Global Finance Magazine.
- The award was presented during the Annual Meetings of the IMF and the World Bank.
- SBI Chairman CS Setty accepted the award, highlighting the bank’s dedication to service and financial inclusion.
- The Global Finance Best Bank Awards are a trusted standard for assessing financial institutions globally.
- SBI’s digital initiatives, including the YONO platform, have driven significant growth and customer satisfaction.
- SBI operates over 22,500 branches and 62,000 ATMs across India, showcasing its expansive network.
Also Read Latest Current Affairs 2024
SBI was recognized for its exceptional banking services, commitment to customer satisfaction, and efforts to promote financial inclusion across India.
The Global Finance Best Bank Award is a prestigious recognition given to banks worldwide, evaluating their performance, services, and role in the financial sector.
YONO (You Only Need One) is SBI’s digital platform that offers various banking services, including account opening, loan disbursements, and more.
SBI has a vast network of branches and ATMs, along with digital services, to ensure that banking is accessible to people across the country.
As the Chairman of SBI, CS Setty received the award and emphasized the bank’s dedication to innovation, service quality, and financial inclusion.
SBI operates over 22,500 branches and 62,000 ATMs across India, providing extensive banking coverage.
In the first quarter of FY25, 63% of SBI’s new savings accounts were opened through its digital platform, YONO.
