With more than 67 crore e-Commerce transactions in FY2016, we are the largest player in the e-Commerce space within the country.
It is said that money makes the world go round. Nowadays, doing trade and transactions online makes the world go round even faster.
Our banking platform onlinesbi.com provides robust and customer friendly net banking services to retail, corporate and institutional customers, including PSUs and Government Agencies. This cost-effective channel has enabled more than 124 crore transactions during FY2016, achieving 39% growth over the previous year. With over 36,000 merchant tie-ups, direct or through State Bank Collect and e-Commerce aggregators, we have facilitated more than 67 crore e-Commerce transactions during FY2016, making us by far a major player in the e-Commerce space within the country.
SBI’s e-Trade web-based portal enhances our customers’ access to trade finance services with speed and efficiency. Today, nearly 2,250 Corporates use this portal. We are also financing their Supply Chain Partners through our e-VFS/ e-DFS platforms, facilitating an efficient management of their working capital cycle, sustained growth and better profitability. Over 182 Industry Majors with nearly 3,900 vendors and more than 12,900 dealers across the country have migrated to our electronic platform.
SBI has made big strides and leadership position in using its digital infrastructure to enable e-governance to step up to new levels of efficiency and productivity. SBI has been a pioneer in developing customised e-solutions to allow Central and State Governments to migrate their transactions to the online mode and bring in more overall efficiency and transparency into the system.
SBI e-Pay is the first and only aggregator service by any bank in India. This platform aspires to bring in additional payment modes, new merchant categories, with a special focus on Central, State Government Departments and Municipal Corporations.