Key Points
State Bank of India (SBI) is setting its sights on Indias wealthy, reportedly roping in 2,000 relationship managers to capture a share of the nations growing financial assets...
Chairman Dinesh Khara said the move is aimed at rejuvenating the lender's wealth management unit..
SBI, which boasts over 22,500 branches across India, is stepping up its game amidst stiff competition from both global players like HSBC and Barclays and local firms such as 360 One WAM Ltd., ICICI Bank, and Axis Bank...
Khara remains confident about managing the gap between credit and deposit growth, thanks to SBIs excess liquidity of 3.7 trillion..
This liquidity stems from SBIs holdings of government bonds under statutory liquidity ratio (SLR) requirements, which exceed the mandatory 18 percent...
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