SBI revises service charges on exports | Mint
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Business News/ Industry / Banking/  SBI revises service charges on exports
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SBI revises service charges on exports

The revised service charges will be payable upfront once in a year
  • The revised charges are effective from 1 September 2019
  • The revised charges are effective from 1 September 2019. (Reuters)Premium
    The revised charges are effective from 1 September 2019. (Reuters)

    Country’s largest lender, State Bank of India (SBI) has revised their export related service charges. This has been done to improve the ease of doing business and provide clear visibility of cost structure to exporters. While revising the charges, SBI has taken into consideration the views from various export promotion councils.

    The revised service charges will be payable upfront once in a year as against existing practice of collecting multiple charges for every transaction. This will result in bringing about operational conveniences to the exporters.

    SBI expects that the revised charges will help the exporter community at large and will help in improving the exports. The revised charges are effective from 1 September 2019.

    SBI is also the largest mortgage lender in the country. As on 31 March 2019, the bank has a deposit base of over 29 lakh crore with CASA ratio of 45.74% and advances of over 22 lakh crore. SBI commands around 35% of market share in home loans and auto loans. The bank has the largest network of 22,010 branches in India and an ATM / CDM network of over 58,000.

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    Published: 25 Jul 2019, 02:51 PM IST
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