State Bank Of India

State Bank of India (SBI), the country’s largest lender, is reportedly in talks with Microsoft to utilize technology that will enable digital banking in rural areas with little access to telecom networks. In a bid to hasten the government’s online and cashless push, SBI plans to use technology to get more citizens to abjure cash. The Bank is also experimenting with other technologies as well to reach out to places where there are no reliable connectivity options.

Microsoft is looking at the country as a major market to implement its so-called ‘white space’ and ‘wide area WiFi or Wide-Fi’ technologies - a concept that taps unutilized spectrum of television stations and cable TV network for internet access.

SBI offers a wide range of services in the Personal Banking, Agriculture/Rural, NRI services, SME and Corporate Banking etc. The Bank reported 34.56% fall in its net profit at Rs 2,538.32 crore for second quarter ended September 30, 2016 as compared to Rs 3879.07 crore for the same quarter in the previous year.