SBM Bank India
Commercial bank
From Wikipedia, the free encyclopedia
SBM Bank India is a subsidiary of the State Bank of Mauritius. It was the first bank to receive a banking license from the India's banking regulator Reserve Bank of India (RBI) to establish a universal banking business in the country as a wholly owned subsidiary.[2][3][4] It was incorporated on 1 December 2018 as a private sector bank headquartered in Mumbai.[5][6][7] It also operates from New Delhi, Mumbai, Bengaluru, Chennai, Hyderabad, Ahmedabad, Kolkata, Chandigarh, Ludhiana, Surat, and in the rural centers of Ramachandrapuram and Palghar.[8][9][10][11][12][13][14]
| |
Company type | Public |
|---|---|
| Industry | Finance and Insurance |
| Founded | 1 December 2018 |
| Headquarters | , |
Key people | Ashish Vijayakar (MD and CEO)[1] |
| Products | Banking |
Number of employees | 350+ |
| Parent | SBM Holdings Ltd |
| Website | www |
History
SBM Bank (India) Ltd. is a step-down subsidiary of SBM Holdings Ltd, a listed entity in the Mauritius Stock exchange, promoted by the Government of Mauritius, brought its rich experience to India by setting up the Indian Operations in 1994.[15]
Products and services
Tie-ups and Partnerships
- SBM Bank taps partnerships to grow India operations.[18]
- SBM Bank India partners with Lendingkart to offer overdraft facility for working capital to MSMEs. SBM Bank offers a customised overdraft facility to over 1,00,000 customers of Lendingkart, largely MSMEs.[19][20]
- SBM Bank India to empower for MSME exporters through collaboration with Drip Capital.[21][22][23][24]
- SBM Bank India re-imagines credit card experience in partnership with OneCard. SBM Bank India did the Collaboration with OneCard to extend mobile-based credit cards. With in-app on-boarding, the virtual card can be activated & used instantly, while the physical card is delivered to the customer in as less as 3–5 days time.[25][26][27]
- SBM Bank India tied up with CredAvenue for NBFCs and fintec.[28][29]
- SBM Bank India taps 30 fintechs to grow deposit operations.[30]
- Vested Finance and SBM Bank come together to offer forex transfers.[31][32][33]
- Paisabazaar introduces its neo-lending strategy, launches Step Up Credit Card with SBM Bank India.[34][35]
- Niyo and SBM Bank India come together to offer Niyo Global experience for passport holders.[36][37]
- Niyo with SBM Bank India and VISA now offers a digital savings account with travel-friendly product Niyo Global. Along with zero-forex mark-up, customers can now earn an attractive interest p.a. on the savings account.[38][39]
- U GRO Capital and SBM Bank India together launch ‘GRO Smart Business’ credit cards targeted to MSMEs.[40]
- SBM Bank India along with Mastercard facilitate cross border transactions, remittances.[41][42]
- LoanTap in association with SBM Bank and Rupay, launches limitless prepaid cards.[43]
- SBM EnKash RuPay Business Card through RuPay network will offer a host of unique amenities designed for SMEs, MSMEs, and start-ups.[44]
- SBM Bank India taps Vakrangee for Banking Business Correspondent (BC) service.[45]
- Finin collaborates with SBM Bank India.[46]
- Arya announces its collaboration with SBM Bank India to tap the mid-market segment, including mid-corporates and higher-end SMEs.[47]
- Vakrangee partners with SBM Bank India to take Smart Banking to Indian hinterlands.[48]
- Bharti AXA Life tied up with SBM Bank India for insurance distribution.[49][50]
- SBM Bank India and PayNearby come together to democratize financial investments.[51][52][53]
