-16.15 (-1.50%) State Bank of India (SBI), the country’s largest public sector lender, has partnered with Uber to provide its drivers with vehicle finance. Under this arrangement, Uber will give SBI an assumption of what a driver could earn in a particular city. The EMI will come through payouts Uber makes to the driver and the payout will be channeled through SBI, which will debit the EMI and credit the rest to the driver’s account, thereby ensuring minimal chance of default.
SBI offers a wide range of services in the Personal Banking, Agriculture/Rural, NRI services, SME and Corporate Banking etc.