State Bank Of India

State Bank of India (SBI), the nation’s biggest lender, has launched a new customer facility ‘Easy Collect’ as a pilot project at its Bandra-Kurla Complex branch. This new facility enables collection of the correct amount of premium from policyholders and real-time remittance of the same to SBI Life Insurance Company. The Policy holders can also get receipts for the cash / cheque payment.

SBI has registered 30.54% jump in its net profit at Rs 3100.41 crore for second quarter ended September 30, 2014 as compared to Rs 2375.01 crore for the same quarter in the previous year. Total income of the bank has increased 12.46% at Rs 41833.36 crore for Q2FY15 as compared Rs 37199.92 crore for the corresponding quarter previous year.