The new initiative streamlines account opening for NRIs by utilizing digital tools to eliminate paperwork and accelerate verification
State Bank of India (SBI): SBI has introduced a TAB-based end-to-end digital onboarding process for Non-Resident Indians (NRIs) to simplify the opening of NRE (Non-Resident External) and NRO (Non-Resident Ordinary) accounts, reported thehindubusinessline.com.
Digital transformation in banking
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This innovative initiative will be available across SBI branches in India and select foreign offices
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By utilizing digital tools, it eliminates the need for physical paperwork, allowing for quicker document verification and faster account opening, both at branches and during customer visits
Chairman’s statement
Challa Sreenivasulu Setty, Chairman of SBI, emphasized that this end-to-end digital solution will significantly reduce turnaround time, offering NRIs a seamless and efficient digital experience for account opening.
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