SBM Bank India explained

SBM Bank India
Type:Public
Key People:Sidharth Rath (MD and CEO)[1] [2]
Industry:Finance and Insurance
Products:Banking
Num Employees:350+
Parent:SBM Holdings Ltd
Foundation:1st December 2018
Location City:Mumbai
Location Country:India

SBM Bank India is a subsidiary of the State Bank of Mauritius. It was the first bank to receive a banking license from the India's banking regulator Reserve Bank of India (RBI) to establish a universal banking business in the country as a wholly owned subsidiary.[3] [4] [5] It was incorporated on 1 December 2018 as a private sector bank headquartered in Mumbai.[6] [7] [8] It also operates from New Delhi, Bengaluru, Chennai, Hyderabad, Ahmedabad, and in the rural centers of Ramachandrapuram and Palghar.[9] [10] [11] [12] [13] [14] [15]

History

SBM Bank (India) Ltd. is a step-down subsidiary of SBM Holdings Ltd, a listed entity in the Mauritius Stock exchange, promoted by the Government of Mauritius, brought its rich experience to India by setting up the Indian Operations in 1994.[16]

Products and services

SBM Bank (India) Ltd. focuses on retail banking products under the brand "SBM Private Wealth" and customized wholesale banking products.[17] [18]

Tie-ups and Partnerships

Notes and References

  1. Web site: Inculcating the art and science of risk management and broader governance culture is critical for startups: Sidharth Rath, CEO, SBM Bank India. ANI News.
  2. News: SBM Bank India appoints Sidharth Rath as managing director & CEO - Times of India. The Times of India. 20 November 2018 .
  3. News: SBM plans calibrated expansion of units in India. The Economic Times. Rebello. Joel.
  4. Web site: State Bank Of Mauritius To Operate As Local Subsidiary; To Double Branches, Eyes Rs 5000 Cr Biz In Two Years. Moneycontrol.
  5. Web site: SBM Bank (India) Ltd becomes first foreign bank to set up wholly owned subsidiary in India.
  6. Web site: SBM Bank India unveils SBM Private Wealth.
  7. Web site: SBM Bank India inaugurates first-of-its-kind container branch at Maharashtra. www.psuconnect.in.
  8. Web site: SBM Bank aims to add up to six branches in FY21. @businessline. 6 January 2020 .
  9. News: Mauritius PM inaugurates SBM Bank (India) Ltd in Mumbai. Business Standard India. 25 January 2019.
  10. Web site: Focusing deposits, State Bank of Mauritius plans major branch expansion. 4 March 2019.
  11. Web site: SBM Bank (India) Limited: First foreign bank to set up a Wholly Owned Subsidiary (WOS) in India. www.ciol.com.
  12. Web site: SBM Bank India Wants To Be An Amazon Of Banking. Moneycontrol.
  13. Web site: SBM Bank (India) Envisions An Expansion Of 16 Branches By The Year 2022. Bhaktvatsal. Sharma. BW Businessworld.
  14. Web site: Mauritius PM inaugurates SBM Bank (India) Ltd in Mumbai. 25 January 2019. Business Standard.
  15. Web site: Mauritius' SBM gets RBI approval to merge operations with its Indian subsidiary. Press Trust of India. 1 December 2018. Business Standard.
  16. Web site: RBI approves State Bank of Mauritius merger with Indian subsidiary. The New Indian Express. 2 December 2018 .
  17. Web site: SBM Bank (I) will focus on rural markets through collaborative approach, says Sidharth Rath. Thomas. Abraham. @businessline. 18 February 2020 .
  18. Web site: We intend to use open architecture to build scale: SBM Bank's Sidharth Rath. Raghu. Mohan. 3 August 2020. Business Standard.
  19. Web site: SBM Bank Bets On Tie-ups To Grow India Operations; Not To Add Branches. Moneycontrol.
  20. Web site: SBM Bank India ties up with Lendingkart to offer overdraft facility for working capital to MSMEs. 10 September 2021. Zee Business.
  21. Web site: SBM Bank India collaborates with Lendingkart to market unique tailormade Overdraft facility. www.indiainfoline.com.
  22. News: SBM Bank India collaborates with Drip Capital to empower MSME exporters. The Economic Times. 6 July 2021 .
  23. Web site: Drip Capital partners with SBM Bank India to empower MSME exporters. @businessline. 7 July 2021 .
  24. Web site: SBM Bank India partners with Drip Capital to boost MSME exports. Knn India-Knowledge & News. Network. knnindia.co.in.
  25. Web site: What bank-fintech tie-ups mean for MSMEs, others in India beyond lending, payments. 28 October 2021 .
  26. Web site: SBM Bank India Collaborates with OneCard to extend mobile-based credit cards. 7 September 2021.
  27. Web site: SBM Bank and OneCard to Launch Mobile-Based Credit Card. Fortunly.
  28. Web site: SBM Bank partners with OneCard to launch mobile-based credit card. Press Trust of India. 6 September 2021. Business Standard.
  29. News: SBM Bank India partners with CredAvenue for NBFCs and fintechs - Times of India. The Times of India. June 2021 .
  30. Web site: SBM Bank India logs on to CredAvenue as Platform Partner. 28 May 2021.
  31. News: SBM Bank ties up with 30 fintechs to grow deposits - Times of India. The Times of India. 28 July 2021 .
  32. Web site: Vested Finance ties up with SBM Bank for forex transfers. 13 October 2021. mint.
  33. Web site: Vested Finance Partners with SBM Bank India To Make Desposts for US Investing Easier. Polly Jean. Harrison. 17 October 2021.
  34. News: SBM's partner Vested to help Indians buy US stocks online - Times of India. The Times of India. 14 October 2021 .
  35. Web site: Paisabazaar rolls out its neo-lending strategy, launches Step Up Credit Card with SBM Bank India. 22 June 2021.
  36. Web site: Paisabazaar, SBM bank announce to launch Step Up credit card. The. Pioneer. The Pioneer.
  37. Web site: Niyo with SBM Bank India now offers a digital savings account.. 1 December 2021.
  38. Web site: Niyo and SBM Bank to launch upgraded Niyo Global experience for passport holders.
  39. Web site: Niyo, SBM Bank announce offer for digital savings account. Free Press Journal.
  40. Web site: SBM Bank India set to launch a neo banking platform. @businessline. 13 November 2020 .
  41. Web site: U GRO Capital, SBM Bank India partner to launch 'GRO Smart Business' credit card for MSMEs. BFSI. Network. 8 April 2021.
  42. Web site: SBM Bank India, Mastercard to facilitate cross border transactions, remittances. 6 July 2020. mint.
  43. Web site: WorldRemit Introduces Transfer Tracking App. 16 September 2020. www.pymnts.com.
  44. Web site: Digital lending platform LoanTap launches limitless prepaid cards in association with SBM Bank, Rupay. Free Press Journal.
  45. Web site: SBM Bank India, EnKash, YAP and RuPay launch business credit card. @businessline. 23 July 2020 .
  46. Web site: SBM Bank India partners with Vakrangee to provide banking services. Capital. Market. 4 December 2020. Business Standard.
  47. Web site: Finin launches as neobanking platform, partners with SBM Bank India. Business Today. 3 December 2020 .
  48. Web site: Arya, State Bank of Mauritius Bank partner to offer financing solutions. BFSI. Network. 12 August 2021.
  49. Web site: Vakrangee ties with SBM Bank India to offer Smart Banking to the unbanked India. www.indiainfoline.com.
  50. News: Bharti AXA Life partners with SBM Bank India for insurance distribution. The Economic Times. 18 August 2020 .
  51. Web site: Bharti AXA Life, SBM Bank India enter into bancassurance partnership. K. R.. Srivats. @businessline. 18 August 2020 .
  52. Web site: New platform floated by SBM Bank India and PayNearby ease the process of financial investments | Indiablooms - First Portal on Digital News Management. Indiablooms.com.
  53. Web site: SBM Bank India and PayNearby announce launch of Nivesh.
  54. Web site: SBM Bank Ties Up With PayNearby To Offer 'open Banking' To Masses. Moneycontrol.

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