State Bank of India Launches Nationwide Drive To Promote Inoperative Account Activation

Mumbai, India (December 1, 2024): The State Bank of India (SBI), the country's largest lender, has launched a nationwide awareness campaign to promote inoperative account activation and reactivation efforts. The initiative aims to raise awareness about the importance of activating accounts that have been inactive for over two years.

As part of this drive, SBI conducted a one-day workshop in Gurugram for its national business correspondents to sensitize them on the significance of inoperative account activation, with special emphasis on Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts. The bank stressed the importance of regular transactions to avoid accounts becoming inactive.

SBI has also integrated Artificial Intelligence (AI) and Machine Learning (ML) models to assess Customer Service Points (CSPs) based on their risk profiles, enabling better risk management, operational efficiency, regulatory compliance, and superior customer service.

The bank's Chairman, CS Setty, urged business correspondents to actively engage in the Department of Financial Services (DFS) campaign for Jan Suraksha Schemes from October 15, 2024, to January 15, 2025, to ensure coverage of all eligible citizens. He highlighted the need for strict adherence to banking guidelines, leveraging technology to bridge the gap, and developing a vision map for technological innovation.

SBI reiterated its commitment to advancing financial inclusion through innovative solutions and efficient service delivery. The bank's focus on Re-KYC and activating inoperative accounts reflects its dedication to empowering citizens and ensuring seamless banking experiences nationwide.

The nationwide drive is expected to have a significant impact on financial literacy and account activation, providing a boost to the country's financial inclusion efforts.