SBI launches enrolment for social security schemes

social security schemes: The largest lender in the nation, State Bank of India, announced a facility on Friday that enables consumers to enrol in social security programmes by simply providing an Aadhaar card.

The new facility, which will be accessible through the bank's Customer Service Points (CSPs), was launched by SBI Chairman Dinesh Khara and intends to make the process of signing up for various social security systems easier.

Customers enrolling in programmes like the Pradhan Mantri Jeevan Jyoti Bima Yojana, the Pradhan Mantri Suraksha Bima Yojana, and the Atal Pension Yojana at CSPs will simply need their Aadhaar cards, the bank said in a statement.

Customers won't have to bring their passbooks to the CSPs any longer, according to the statement.

According to Khara, the new feature would considerably increase the coverage of social security schemes with the intention of empowering every segment of society by lowering barriers to obtaining financial security.

About SBI

The largest commercial bank in terms of assets, deposits, branches, clients, and personnel is State Bank of India. The bank had approximately Rs. 45.31 lakh crore in deposits as of June 2023, a CASA ratio of 42.88%, and more than Rs. 33 lakh crore in advances. In terms of home loans and auto loans, SBI holds a market share of 33.4% and 19.5%, respectively.

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