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13 years ago
Post # 1
Goan
Member
Join Date: 22 Jun 2011
Location:  Kuwait
Posts: 448
State Bank of India launches NRI Services in UAE
State Bank of India (SBI), that country's largest bank, is launching a range of services for Non Resident Indians (NRIs). Revealing this, Mr Debajyoti Ray Chaudhuri, Chief Executive Officer of SBI DIFC Branch, Dubai UAE, reiterated the fact that a large segment of NRI population banks with SBI back in India.

These customers would prefer to avail of some of their banking services from SBI in the UAE.

The bank's NRI Services are being launched by Mr A Krishna Kumar, Managing Director and Group Executive (National Banking Group), State Bank of India. The occasion is a landmark event in the history of the bank's operations in the UAE.
This is an important milestone in the history of India's No 1 bank. State Bank of India, which enjoys the widest reach in that country owing to the largest number of branches, adds a key service to its portfolio - a move that will not only impact business but also touches the lives of thousands of Indians in the UAE who transact business regularly to their home country.

Elaborates Mr Ray Chaudhuri: "SBI's Dubai office was set up in 2007 in the DIFC with a Category 4 license from the Dubai Financial Services Authority. The license was upgraded in 2009 to Category 1, allowing it to expand its operations significantly." This has enabled the bank to offer services to the large NRI population in the UAE. The bank will be able to provide all facilities that a representative office can extend, according to Mr Ray Chaudhuri. These services include facilitating the opening of NRI accounts, marketing of SBI products, providing clients with information, services, all under the existing license.

The bank would retain its focus on corporate products and trade finance and consolidate its existing operations from the DIFC.

State Bank of India(SBI) is India's largest commercial Bank in terms of profits, assets, deposits, branches and employees. It is a 200 year old institution and is now present in India in almost all segments of the financial services sector.

The bank already has a presence in Bahrain and Oman with full banking licenses. Its operations in Saudi Arabia have already commenced with a branch in Jeddah offering the full range of banking services. Its office in the Qatar Financial Centre is likely to start operations very shortly.
13 years ago
Post # 2
Lizzy
Member
Join Date: 27 Oct 2010
Location:  Qatar
Posts: 404
RE: State Bank of India launches NRI Services in UAE
Thats good news Goan.
13 years ago
Post # 3
Goan
Member
Join Date: 22 Jun 2011
Location:  Kuwait
Posts: 448
RE: State Bank of India launches NRI Services in UAE
Indeed it is.
13 years ago
Post # 4
Lizzy
Member
Join Date: 27 Oct 2010
Location:  Qatar
Posts: 404
RE: State Bank of India launches NRI Services in UAE
13 years ago
Post # 5
Goan
Member
Join Date: 22 Jun 2011
Location:  Kuwait
Posts: 448
RE: State Bank of India launches NRI Services in UAE
13 years ago
Post # 6
Ranjeet
Member
Join Date: 18 Jul 2010
Location:  Kuwait
Posts: 274
RE: State Bank of India launches NRI Services in UAE
hope they can come to kwt too....
12 years ago
Post # 7
shihabjubail_2
Member
Join Date: 06 May 2012
Location:  Saudi Arabia
Posts: 1
RE: State Bank of India launches NRI Services in UAE
;

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