Beena Parmar Moneycontrol News
After its merger with five associate banks and Bharatiya Mahila Bank, the State Bank of India on Monday opened as one bank with 500 million customers, 740 million accounts and 500 tera-byte of database, said SBI Chairman Arundhati Bhattacharya.
Addressing the media on Monday morning, Bhattacharya said, “The SBI opened as 'one bank' today...just accomplished in the last 48 hours; I don’t think anywhere in the globe anybody has attempted a six-way merger of such a magnitude. We have created a CBS (core banking solution) database which is about 500 tera bytes, which is I guess the biggest Oracle database in the world.”
Bhattacharya further added that all this work was done in 48-50 hours. "The system was handed over at 3 a.m. on April 1 and given back to us (by IT) at 5.30 a.m. today. This speaks a lot about the hardware and software of our country."
SBI merged the all-women Bharatiya Mahila Bank (BMB) and SBI’s five associate banks - State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank Of Hyderabad, State Bank of Mysore and State Bank of Travancore- with itself.
The merger of BMB and all treasury departments into one has been completely integrated at the report and data level. The integration granular data of the associates will be completed by May end.
Bhattacharya said, “Merger of data will start from April 24 because audit has to take place. Once audits are completed, from April 24 onwards every weekend one bank will be taken and the data of that bank will be merged. So, within May 27, the entire granular level data merger will be completed. In case of BMB and treasury the granular data merger has already completed.”
On the last day of the previous financial year, March 31, the bank handled 135 million transactions, 20 percent more than 100 million handled the last day of the previous year, with 84 percent through e-channels.
The new peak transaction per second is 4,000 per second while the system can handle 15,000 transactions per second, the SBI chief said, praising India’s IT hardware and software and thanking SBI partners including TCS, Tech Mahindra, Wipro, HCL Tech and others.
“We are quickly digitizing our processes and CRM (customer relationship management). You will see much more globalized SBI very shortly. Customers can expect to get more quality and even personalised services. By July of next year 2018, you will have a totally customised look and feel of every channel that you operate in, not just digital channels but also at the branch level. People will be able to recognize all of you (customers) by name,” the SBI chief exuded confidence.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
