1. State Bank of India to tap e-comm sector via digital products

State Bank of India to tap e-comm sector via digital products

The State Bank of India (SBI) is gearing up for a major push to its digital products roll-out, even as it plans to tap the e-commerce industry stakeholders in a big way.

By: | Published: August 15, 2015 12:13 AM

The State Bank of India (SBI) is gearing up for a major push to its digital products roll-out, even as it plans to tap the e-commerce industry stakeholders in a big way.

Apart from the payment system which the banks is currently into, the banks also plans to get involved into the full value chain of the e-commerce industry starting from vendors who supply goods to online market players to the end customers.

Speaking to journalists on the sidelines of the inauguration of the 1000th branch in Chennai circle, B Sriram, managing director & group executive (national banking), SBI said that the e-commerce has been growing big and with the rise in focus on digital products, the bank is likely to get good business from e-commerce industry.

He said: “We want to explore the full value chain of the growing e-commerce industry. Besides being the payment gateway provider, we want to lend the vendors, give loan to set up warehouses of e-commerce players and finance the end-customers who make purchases online, by providing personal loans to them.”

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