With a view to pushing the concept of entrepreneurship by guiding and counselling new entrepreneurs in starting a new company or business enterprise, the State Bank of India has launched a wealth management service, a space dominated by private and foreign players, to cater to fast-growing affluent segment of the country, informed an official.
“Introducing wealth management has been one of the bank’s top strategic priorities, as we have a number of HNI customers in the bank and potentially many more whose banking needs are more sophisticated and who require a highly specialised service delivery mechanism,” SBI Chairperson Arundhati Bhattacharya said.
The bank has also inaugurated a dedicated branch for startups to provide advisory services to the budding entrepreneurs.
The wealth management offering — ‘SBI Exclusif’ and the start-up branch — ‘SBI InCube’ were rolled out in Bengaluru.
The service of ‘SBI Exclusif’ will offer numerous firsts in wealth banking like the first ‘e-Wealth Center’, that can deliver quality relationship management services remotely for extended hours.
It enables customers to transact and invest on digital channels such as internet and mobile.
The customers will have access to a dedicated relationship manager to take care of all their banking and investment needs.
“With this, the entrepreneurs will be guided right from setting up of a company. Legal issues connected to that, taxation issues etc will be properly explained to them under one roof,” Bhattacharya added.