SBI launches ‘Tab Banking service’ in Hyderabad

To make opening of a savings bank account easy, State Bank of India (SBI), country’s largest public sector lender has launched ‘Tab Banking service’ in Hyderabad. Under this new service, the bank’s staff will visit the customers at their home or office and by using the tablets get complete formalities for opening an account like photographs of applicant, scan identity/address proof and fill in the application in front of the customer and upload it to the central hub for further processing. Within a minute of uploading the application, the customer will get an instant account opening message on cell phone. Moreover, the bank’s representative will also deliver the welcome kit including cheque book and ATM card. The bank reported 34.20% fall in its net profit at Rs 2234.34 crore for third quarter ended December 31, 2013 as compared to Rs 3396.06 crore for the same quarter in the previous year. However, total income of the bank increased by 14.91% at Rs 39060.76 crore for quarter under review as compared to Rs 33992.11 crore for the quarter ended December 31, 2012.