SBI rationalizes service charges on export from Ist Sept

Mumbai : Country’s largest lender, State Bank of India (SBI) has rationalized their export related service charges. This has been done to improve the ease of doing business and provide clear visibility of cost structure to exporters. While revising the charges, SBI has taken into consideration the views / representations from various export promotion councils. The revised service charges will be payable upfront once in a year as against existing practice of collecting multiple charges for every transaction. This will result in bringing about operational conveniences to the exporters. SBI expects that the revised charges will help the exporter community at large and will help in improving the exports. The revised charges are effective from September 1, 2019.
About State Bank of India
State Bank of India (SBI) the largest commercial bank in terms of assets, deposits, branches, customers and employees; is also the largest mortgage lender in the country. As on March 31, 2019, the bank has a deposit base of over Rs. 29 lakh crore with CASA ratio of 45.74% and advances of over Rs. 22 lakh crore. SBI commands around 35% of market share in home loans and auto loans. The Bank has the largest network of 22,010 branches in India and an ATM / CDM network of over 58,000. The number of customers using internet banking facility are more than 6 crore and mobile banking services stand at 1.41 crore. Downloads for YONO – an integrated digital and lifestyle platform by SBI – are over 2 Crore, with more than 15 lakh logins per day. On social media platforms, SBI has the highest number of followers on Facebook, YouTube, LinkedIn and Pinterest. The Bank tops the list of followers on Facebook and YouTube across all banks worldwide.