State Bank of India (SBI) on March 8 appointed Nitin Chugh as the deputy managing director (DMD) and head of digital banking.
Chugh would be responsible for driving growth of customer acquisition through digital channels, along with defining and implementing digital strategies, the bank said in a press release.
The seasoned banker and a digital banking expert, with an experience of nearly three decades, served Ujjivan Small Finance Bank as its MD and CEO. He also served 18 years at HDFC Bank in several leadership roles in retail banking.
Apart from a post-graduate degree in management, Chugh holds a BTech degree in Electrical and Computer Science from NIT, Kurukshetra.
The number of SBI's customers using internet banking and mobile banking stand at 97 million and 45 million, respectively, the bank said in the release.
Also, the integrated digital and lifestyle platform by SBI, YONO, which has more than 45 million registered users, witnessed over 10 million average daily logins in Q3 FY 22.
The country's largest lender has opened around 29,000 new digital savings bank accounts a day through YONO in the quarter ended December 2021.
In terms of digital lending, the bank disbursed pre-approved personal loans worth Rs6,283 crore through YONO till Q3 of FY22. SBI also has the highest number of followers on Facebook and Twitter amongst all the banks worldwide.