State Bank of India’s (SBI) Shanghai Branch has become the first Indian Bank to be connected to China’s National Advance Payment System (CNAPS) and to operationalize it. SBI is the only Indian bank to have obtained the license to do business in local currency and also inducted to the CNAPS by the People’s Bank of China (PBOC) as on date.
SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.
