SBM Bank India
From Wikipedia, the free encyclopedia
Commercial bank
 | |
| 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 |
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]
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
 | This article may be too long to read and navigate comfortably. Consider splitting content into sub-articles, condensing it, or adding subheadings. Please discuss this issue on the article's talk page. (November 2022) |
- 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]
References
- ↑ "SBM Bank India names Ashish Vijayakar MD - CEO".
- ↑ Rebello, Joel. "SBM plans calibrated expansion of units in India". The Economic Times.
- ↑ "State Bank Of Mauritius To Operate As Local Subsidiary; To Double Branches, Eyes Rs 5000 Cr Biz In Two Years". Moneycontrol.
- ↑ "SBM Bank (India) Ltd becomes first foreign bank to set up wholly owned subsidiary in India".
- ↑ "SBM Bank India unveils SBM Private Wealth".
- ↑ "SBM Bank India inaugurates first-of-its-kind container branch at Maharashtra". www.psuconnect.in.
- ↑ "SBM Bank aims to add up to six branches in FY21". @businessline. 6 January 2020.
- ↑ "Mauritius PM inaugurates SBM Bank (India) Ltd in Mumbai". Business Standard India. 25 January 2019.
- ↑ "Focusing deposits, State Bank of Mauritius plans major branch expansion". 4 March 2019.
- ↑ "SBM Bank (India) Limited: First foreign bank to set up a Wholly Owned Subsidiary (WOS) in India". www.ciol.com.
- ↑ "SBM Bank India Wants To Be An Amazon Of Banking". Moneycontrol.
- ↑ Sharma, Bhaktvatsal. "SBM Bank (India) Envisions An Expansion Of 16 Branches By The Year 2022". BW Businessworld.
- ↑ "Mauritius PM inaugurates SBM Bank (India) Ltd in Mumbai". 25 January 2019 – via Business Standard.
- ↑ "Mauritius' SBM gets RBI approval to merge operations with its Indian subsidiary". Press Trust of India. 1 December 2018 – via Business Standard.
- ↑ "RBI approves State Bank of Mauritius merger with Indian subsidiary". The New Indian Express. 2 December 2018.
- ↑ Abraham, Thomas (18 February 2020). "SBM Bank (I) will focus on rural markets through collaborative approach, says Sidharth Rath". @businessline.
- ↑ Mohan, Raghu (3 August 2020). "We intend to use open architecture to build scale: SBM Bank's Sidharth Rath" – via Business Standard.
- ↑ "SBM Bank Bets On Tie-ups To Grow India Operations; Not To Add Branches". Moneycontrol.
- ↑ "SBM Bank India ties up with Lendingkart to offer overdraft facility for working capital to MSMEs". Zee Business. 10 September 2021.
- ↑ "SBM Bank India collaborates with Lendingkart to market unique tailormade Overdraft facility". www.indiainfoline.com.
- ↑ "SBM Bank India collaborates with Drip Capital to empower MSME exporters". The Economic Times. 6 July 2021.
- ↑ "Drip Capital partners with SBM Bank India to empower MSME exporters". @businessline. 7 July 2021.
- ↑ Network, Knn India-Knowledge & News. "SBM Bank India partners with Drip Capital to boost MSME exports". knnindia.co.in.
- ↑ "What bank-fintech tie-ups mean for MSMEs, others in India beyond lending, payments". 28 October 2021.
- ↑ "SBM Bank India Collaborates with OneCard to extend mobile-based credit cards". 7 September 2021.
- ↑ "SBM Bank and OneCard to Launch Mobile-Based Credit Card". Fortunly.
- ↑ India, Press Trust of (6 September 2021). "SBM Bank partners with OneCard to launch mobile-based credit card". Press Trust of India – via Business Standard.
- ↑ "SBM Bank India partners with CredAvenue for NBFCs and fintechs - Times of India". The Times of India. June 2021.
- ↑ "SBM Bank India logs on to CredAvenue as Platform Partner". 28 May 2021.
- ↑ "SBM Bank ties up with 30 fintechs to grow deposits - Times of India". The Times of India. 28 July 2021.
- ↑ "Vested Finance ties up with SBM Bank for forex transfers". mint. 13 October 2021.
- ↑ Harrison, Polly Jean (17 October 2021). "Vested Finance Partners with SBM Bank India To Make Desposts for US Investing Easier".
- ↑ "SBM's partner Vested to help Indians buy US stocks online - Times of India". The Times of India. 14 October 2021.
- ↑ "Paisabazaar rolls out its neo-lending strategy, launches Step Up Credit Card with SBM Bank India". ThePrint. 22 June 2021.
- ↑ Pioneer, The. "Paisabazaar, SBM bank announce to launch Step Up credit card". The Pioneer.
- ↑ "Niyo with SBM Bank India now offers a digital savings account". 1 December 2021.
- ↑ "Niyo and SBM Bank to launch upgraded Niyo Global experience for passport holders".
- ↑ "Niyo, SBM Bank announce offer for digital savings account". Free Press Journal.
- ↑ "SBM Bank India set to launch a neo banking platform". @businessline. 13 November 2020.
- ↑ Network, BFSI (8 April 2021). "U GRO Capital, SBM Bank India partner to launch 'GRO Smart Business' credit card for MSMEs".
- ↑ "SBM Bank India, Mastercard to facilitate cross border transactions, remittances". mint. 6 July 2020.
- ↑ "WorldRemit Introduces Transfer Tracking App". www.pymnts.com. 16 September 2020.
- ↑ "Digital lending platform LoanTap launches limitless prepaid cards in association with SBM Bank, Rupay". Free Press Journal.
- ↑ "SBM Bank India, EnKash, YAP and RuPay launch business credit card". @businessline. 23 July 2020.
- ↑ Market, Capital (4 December 2020). "SBM Bank India partners with Vakrangee to provide banking services" – via Business Standard.
- ↑ "Finin launches as neobanking platform, partners with SBM Bank India". Business Today. 3 December 2020.
- ↑ Network, BFSI (12 August 2021). "Arya, State Bank of Mauritius Bank partner to offer financing solutions".
- ↑ "Vakrangee ties with SBM Bank India to offer Smart Banking to the unbanked India". www.indiainfoline.com.
- ↑ "Bharti AXA Life partners with SBM Bank India for insurance distribution". The Economic Times. 18 August 2020.
- ↑ Srivats, K. R. (18 August 2020). "Bharti AXA Life, SBM Bank India enter into bancassurance partnership". @businessline.
- ↑ "New platform floated by SBM Bank India and PayNearby ease the process of financial investments | Indiablooms - First Portal on Digital News Management". Indiablooms.com. 18 August 2020.
- ↑ "SBM Bank India and PayNearby announce launch of Nivesh".
- ↑ "SBM Bank Ties Up With PayNearby To Offer 'open Banking' To Masses". Moneycontrol.
