SBM Bank India

Commercial bank

This article reads like a press release or a news article and may be largely based on routine coverage. Please help improve it by adding independent secondary sources. (November 2022) (Learn how and when to remove this message)

|

Not to be confused with State Bank of Mysore.

SBM Bank India

Company type| Public
Industry| Finance and Insurance
Founded| 1 December 2018
Headquarters|

Mumbai

India

Key people

| Ashish Vijayakar (MD and CEO)[1]
Products| Banking

Number of employees

| 350+
Parent| SBM Holdings Ltd
Website| www.sbmbank.co.in

SBM Bank India is a subsidiary of the State Bank of Mauritius. It was the first bank to receive a banking license from the India's banking regulator Reserve Bank of India (RBI) to establish a universal banking business in the country as a wholly owned subsidiary.[2][3][4] It was incorporated on 1 December 2018 as a private sector bank headquartered in Mumbai.[5][6][7] It also operates from New Delhi, Mumbai, Bengaluru, Chennai, Hyderabad, Ahmedabad, Kolkata, Chandigarh, Ludhiana, Surat, and in the rural centers of Ramachandrapuram and Palghar.[8][9][10][11][12][13][14]

## History

[edit]

This article or section appears to contradict itself. Please see the talk page for more information. (November 2022)

|

SBM Bank (India) Ltd. is a step-down subsidiary of SBM Holdings Ltd, a listed entity in the Mauritius Stock exchange, promoted by the Government of Mauritius, brought its rich experience to India by setting up the Indian Operations in 1994.[15]

## Products and services

[edit]

SBM Bank (India) Ltd. focuses on retail banking products under the brand "SBM Private Wealth" and customized wholesale banking products.[16][17]

## Tie-ups and Partnerships

[edit]

This article may be too long to read and navigate comfortably. Consider splitting content into sub-articles, condensing it, or adding subheadings. Please discuss this issue on the article's talk page. (November 2022)

|

* SBM Bank taps partnerships to grow India operations.[18]
* SBM Bank India partners with Lendingkart to offer overdraft facility for working capital to MSMEs. SBM Bank offers a customised overdraft facility to over 1,00,000 customers of Lendingkart, largely MSMEs.[19][20]
* SBM Bank India to empower for MSME exporters through collaboration with Drip Capital.[21][22][23][24]
* SBM Bank India re-imagines credit card experience in partnership with OneCard. SBM Bank India did the Collaboration with OneCard to extend mobile-based credit cards. With in-app on-boarding, the virtual card can be activated & used instantly, while the physical card is delivered to the customer in as less as 3–5 days time.[25][26][27]
* SBM Bank India tied up with CredAvenue for NBFCs and fintec.[28][29]
* SBM Bank India taps 30 fintechs to grow deposit operations.[30]
* Vested Finance and SBM Bank come together to offer forex transfers.[31][32][33]
* Paisabazaar introduces its neo-lending strategy, launches Step Up Credit Card with SBM Bank India.[34][35]
* Niyo and SBM Bank India come together to offer Niyo Global experience for passport holders.[36][37]
* Niyo with SBM Bank India and VISA now offers a digital savings account with travel-friendly product Niyo Global. Along with zero-forex mark-up, customers can now earn an attractive interest p.a. on the savings account.[38][39]
* U GRO Capital and SBM Bank India together launch ‘GRO Smart Business’ credit cards targeted to MSMEs.[40]
* SBM Bank India along with Mastercard facilitate cross border transactions, remittances.[41][42]
* LoanTap in association with SBM Bank and Rupay, launches limitless prepaid cards.[43]
* SBM EnKash RuPay Business Card through RuPay network will offer a host of unique amenities designed for SMEs, MSMEs, and start-ups.[44]
* SBM Bank India taps Vakrangee for Banking Business Correspondent (BC) service.[45]
* Finin collaborates with SBM Bank India.[46]
* Arya announces its collaboration with SBM Bank India to tap the mid-market segment, including mid-corporates and higher-end SMEs.[47]
* Vakrangee partners with SBM Bank India to take Smart Banking to Indian hinterlands.[48]
* Bharti AXA Life tied up with SBM Bank India for insurance distribution.[49][50]
* SBM Bank India and PayNearby come together to democratize financial investments.[51][52][53]

## References

[edit]

1. ^ "SBM Bank India names Ashish Vijayakar MD - CEO".
2. ^ Rebello, Joel. "SBM plans calibrated expansion of units in India". The Economic Times.
3. ^ "State Bank Of Mauritius To Operate As Local Subsidiary; To Double Branches, Eyes Rs 5000 Cr Biz In Two Years". Moneycontrol.
4. ^ "SBM Bank (India) Ltd becomes first foreign bank to set up wholly owned subsidiary in India".
5. ^ "SBM Bank India unveils SBM Private Wealth".
6. ^ "SBM Bank India inaugurates first-of-its-kind container branch at Maharashtra". www.psuconnect.in.
7. ^ "SBM Bank aims to add up to six branches in FY21". @businessline. 6 January 2020.
8. ^ "Mauritius PM inaugurates SBM Bank (India) Ltd in Mumbai". Business Standard India. 25 January 2019.
9. ^ "Focusing deposits, State Bank of Mauritius plans major branch expansion". 4 March 2019.
10. ^ "SBM Bank (India) Limited: First foreign bank to set up a Wholly Owned Subsidiary (WOS) in India". www.ciol.com.
11. ^ "SBM Bank India Wants To Be An Amazon Of Banking". Moneycontrol.
12. ^ Sharma, Bhaktvatsal. "SBM Bank (India) Envisions An Expansion Of 16 Branches By The Year 2022". BW Businessworld.
13. ^ "Mauritius PM inaugurates SBM Bank (India) Ltd in Mumbai". 25 January 2019 – via Business Standard.
14. ^ "Mauritius' SBM gets RBI approval to merge operations with its Indian subsidiary". Press Trust of India. 1 December 2018 – via Business Standard.
15. ^ "RBI approves State Bank of Mauritius merger with Indian subsidiary". The New Indian Express. 2 December 2018.
16. ^ Abraham, Thomas (18 February 2020). "SBM Bank (I) will focus on rural markets through collaborative approach, says Sidharth Rath". @businessline.
17. ^ Mohan, Raghu (3 August 2020). "We intend to use open architecture to build scale: SBM Bank's Sidharth Rath" – via Business Standard.
18. ^ "SBM Bank Bets On Tie-ups To Grow India Operations; Not To Add Branches". Moneycontrol.
19. ^ "SBM Bank India ties up with Lendingkart to offer overdraft facility for working capital to MSMEs". Zee Business. 10 September 2021.
20. ^ "SBM Bank India collaborates with Lendingkart to market unique tailormade Overdraft facility". www.indiainfoline.com.
21. ^ "SBM Bank India collaborates with Drip Capital to empower MSME exporters". The Economic Times. 6 July 2021.
22. ^ "Drip Capital partners with SBM Bank India to empower MSME exporters". @businessline. 7 July 2021.
23. ^ Network, Knn India-Knowledge & News. "SBM Bank India partners with Drip Capital to boost MSME exports". knnindia.co.in.
24. ^ "What bank-fintech tie-ups mean for MSMEs, others in India beyond lending, payments". 28 October 2021.
25. ^ "SBM Bank India Collaborates with OneCard to extend mobile-based credit cards". 7 September 2021.
26. ^ "SBM Bank and OneCard to Launch Mobile-Based Credit Card". Fortunly.
27. ^ India, Press Trust of (6 September 2021). "SBM Bank partners with OneCard to launch mobile-based credit card". Press Trust of India – via Business Standard.
28. ^ "SBM Bank India partners with CredAvenue for NBFCs and fintechs - Times of India". The Times of India. June 2021.
29. ^ "SBM Bank India logs on to CredAvenue as Platform Partner". 28 May 2021.
30. ^ "SBM Bank ties up with 30 fintechs to grow deposits - Times of India". The Times of India. 28 July 2021.
31. ^ "Vested Finance ties up with SBM Bank for forex transfers". mint. 13 October 2021.
32. ^ Harrison, Polly Jean (17 October 2021). "Vested Finance Partners with SBM Bank India To Make Desposts for US Investing Easier".
33. ^ "SBM's partner Vested to help Indians buy US stocks online - Times of India". The Times of India. 14 October 2021.
34. ^ "Paisabazaar rolls out its neo-lending strategy, launches Step Up Credit Card with SBM Bank India". ThePrint. 22 June 2021.
35. ^ Pioneer, The. "Paisabazaar, SBM bank announce to launch Step Up credit card". The Pioneer.
36. ^ "Niyo with SBM Bank India now offers a digital savings account". 1 December 2021.
37. ^ "Niyo and SBM Bank to launch upgraded Niyo Global experience for passport holders".
38. ^ "Niyo, SBM Bank announce offer for digital savings account". Free Press Journal.
39. ^ "SBM Bank India set to launch a neo banking platform". @businessline. 13 November 2020.
40. ^ Network, BFSI (8 April 2021). "U GRO Capital, SBM Bank India partner to launch 'GRO Smart Business' credit card for MSMEs".
41. ^ "SBM Bank India, Mastercard to facilitate cross border transactions, remittances". mint. 6 July 2020.
42. ^ "WorldRemit Introduces Transfer Tracking App". www.pymnts.com. 16 September 2020.
43. ^ "Digital lending platform LoanTap launches limitless prepaid cards in association with SBM Bank, Rupay". Free Press Journal.
44. ^ "SBM Bank India, EnKash, YAP and RuPay launch business credit card". @businessline. 23 July 2020.
45. ^ Market, Capital (4 December 2020). "SBM Bank India partners with Vakrangee to provide banking services" – via Business Standard.
46. ^ "Finin launches as neobanking platform, partners with SBM Bank India". Business Today. 3 December 2020.
47. ^ Network, BFSI (12 August 2021). "Arya, State Bank of Mauritius Bank partner to offer financing solutions".
48. ^ "Vakrangee ties with SBM Bank India to offer Smart Banking to the unbanked India". www.indiainfoline.com.
49. ^ "Bharti AXA Life partners with SBM Bank India for insurance distribution". The Economic Times. 18 August 2020.
50. ^ Srivats, K. R. (18 August 2020). "Bharti AXA Life, SBM Bank India enter into bancassurance partnership". @businessline.
51. ^ "New platform floated by SBM Bank India and PayNearby ease the process of financial investments | Indiablooms - First Portal on Digital News Management". Indiablooms.com. 18 August 2020.
52. ^ "SBM Bank India and PayNearby announce launch of Nivesh".
53. ^ "SBM Bank Ties Up With PayNearby To Offer 'open Banking' To Masses". Moneycontrol.

* Banks portal

* v
* t
* e

Banking in India

Institutes|

| Central bank|

* v
* t
* e

Reserve Bank of India

Regulation|

* Reserve Bank of India Act, 1934
* Monetary Policy Committee

People|

* Governor of the Reserve Bank of India
* Deputy governor of the Reserve Bank of India

Buildings|

* Reserve Bank of India Staff College
* RBI Monetary Museum

Subsidiaries|

* Bharatiya Reserve Bank Note Mudran
* Security Printing and Minting Corporation of India

Think tanks|

* BBB
* BCSBI
* NPCI
* IBA
* IDRBT

Speciality banks|

* IFCI
* All India Financial Institutions :
* Exim Bank of India
* NABARD
* NHB
* SIDBI

Other|

* BIFR
* IBBI
* IBPS
* Deposit Insurance (DICGC)

Public-sector
banks|

* Bank of Baroda
* Bank of India
* Canara Bank
* Central Bank of India
* Indian Bank
* Indian Overseas Bank
* Jammu & Kashmir Bank
* Punjab & Sind Bank
* Punjab National Bank
* State Bank of India
* UCO Bank
* Union Bank of India

Private-sector
banks|

* Axis Bank
* Bandhan Bank
* CSB Bank
* City Union Bank
* DCB Bank
* Dhanlaxmi Bank
* Federal Bank
* HDFC Bank
* ICICI Bank
* IDBI Bank
* IDFC First Bank
* IndusInd Bank
* Karnataka Bank
* Karur Vysya Bank
* Kotak Mahindra Bank
* Nainital Bank
* RBL Bank
* South Indian Bank
* Tamilnad Mercantile Bank
* Yes Bank

Foreign banks|

| Foreign Bank Branches|

* Abu Dhabi Commercial Bank
* ANZ
* Bank Maybank Indonesia
* Bank of America
* Bank of Bahrain and Kuwait
* Bank of Ceylon
* Barclays
* Credit Suisse
* CTBC Bank
* Deutsche Bank
* HSBC
* Maybank
* MUFJ
* Rabobank
* Scotiabank
* SMBC
* Standard Chartered India

|

Wholly owned subsidiary (WOS)|

* DBS Bank
* State Bank of Mauritius
* Emirates NBD

Wound up/closed (or in process)|

* Antwerp Diamond Bank
* Citibank

Small finance banks|

* AU
* Fincare
* Capital
* ESAF
* Equitas
* Jana
* North East
* Suryoday
* Ujjivan

Payments banks|

* Airtel
* National Securities Depository
* India Post
* Jio
* Paytm

| Surrendered licencees
or wound up|

* Aditya Birla
* Vodafone M-Pesa
* Tech Mahindra

|

Cooperative
banks|

* Abhyudaya Co-operative Bank.
* Buldana Urban Cooperative Credit Society
* Cosmos Bank
* Dombivli Nagari Sahakari Bank
* Kerala Bank
* Mizoram Co-operative Apex Bank
* Punjab and Maharashtra Co-operative Bank
* Repco Bank
* Saraswat Bank
* Shamrao Vithal Co-operative Bank
* TNSC Bank

Regional rural banks|

* Assam Gramin Vikash Bank
* Bangiya Gramin Vikash Bank
* Mizoram Rural Bank
* Paschim Banga Gramin Bank
* Puduvai Bharathiar Grama Bank
* Tamil Nadu Grama Bank
* Uttar Bihar Gramin Bank
* Uttarakhand Gramin Bank
* Vananchal Gramin Bank

| Andhra|

* Andhra Pradesh Grameena Vikas Bank
* Andhra Pragathi Grameena Bank

|

Kerala|

* Kerala Gramin Bank
* North Malabar Gramin Bank
* South Malabar Gramin Bank

Uttar Pradesh|

* Allahabad UP Gramin Bank
* Gramin Bank of Aryavart
* Sarva UP Gramin Bank

Defunct banks|

| Merged|

| PSB|

* New Bank of India
* Dena Bank
* Vijaya Bank
* Allahabad Bank
* Andhra Bank
* Corporation Bank
* Oriental Bank of Commerce
* United Bank of India
* Syndicate Bank

|

SBI|

* Bank of Bombay
* Bank of Calcutta
* Bank of Madras
* Imperial Bank of India
* State Bank of Bikaner & Jaipur
* State Bank of Hyderabad
* State Bank of Indore
* State Bank of Mysore
* State Bank of Patiala
* State Bank of Saurashtra
* State Bank of Travancore
* Bharatiya Mahila Bank

Rescued|

* Global Trust Bank (OBC)
* Lakshmi Vilas Bank (DBS)
* Nedungadi Bank (PNB)
* United Western Bank (IDBI)
* United Industrial Bank (Allahabad Bank)
* Punjab and Maharashtra Co-operative Bank (Unity SFB)

Acquired|

* Bank of Madura
* Bank of Rajasthan
* Bengal Central Bank
* Centurion Bank of Punjab
* Chartered Bank of India, Australia and China
* Grindlays Bank
* National Bank of India
* ING Vysya Bank
* Mercantile Bank of India, London and China
* Lord Krishna Bank
* Suvarna Sahakari Bank
* Times Bank
* Vysya Bank

| PSB|

* Bharat Overseas Bank
* Pandyan Bank

|

Wound up|

* Bank of Chettinad
* Dass Bank

Failed|

* Alliance Bank of Simla
* Arbuthnot & Co
* Commercial Bank of India
* Exchange Bank of India & Africa
* (New) Oriental Bank Corporation
* Oudh Commercial Bank
* Madhavpura Mercantile Cooperative Bank

Liquidated|

* Bengal Bank (1784)
* Bank of Bombay (1720)
* Bank of Hindostan
* General Bank of India
* General Bank of Bengal and Bihar
* Nath Bank
* Palai Central Bank
* The Commercial Bank (1819)
* The Calcutta Bank (1824)
* The Union Bank (1828)
* The Government Savings Bank (1833)
* The Bank of Mirzapore (1835)
* Travancore National and Quilon Bank

Networks|

| Interbank networks|

* Cirrus
* NFS
* PLUS

|

ATM networks|

* BANCS
* Cashnet
* CashTree
* MITR

Cards|

* Mastercard
* Debit Mastercard
* Maestro
* RuPay
* Visa
* Visa Debit
* Visa Electron

Online transfers|

* AEPS
* BBPS
* BHIM
* IMPS
* NEFT
* RTGS
* UPI

Payment service
providers|

* Atom
* BHIM
* BillDesk
* CCAvenue
* Paytm
* Sarvatra Technologies
* Zeta India

| Digital wallets|

* Amazon Pay
* BharatPe
* Freecharge
* Google Pay
* Mobikwik
* Payoneer
* PayU
* Payworld
* PhonePe

|

Related topics|

* ATM usage fees
* Bank run
* Black money
* Counterfeit money
* De-materialisation (de-mat)
* Demonetisation
* 2016
* Low denomination coins
* Foreign exchange (ForEx)

* Lists:  List of banks
* List of oldest banks in India

| Protocol
and codes|

* Bharat Bill Payment System (BBPS)
* Indian Financial System Code (IFSC)
* National Unified USSD Platform (NUUP)
* Structured Financial Messaging System (SFMS)

|

Rates &
ratios|

| Rates|

* Bank rate
* Mumbai Inter-Bank Bid Rate - MIBID/Mumbai Inter-Bank Offer Rate - MIBOR
* Mumbai Interbank Forward Offer Rate - MIFOR

|

Ratios|

* Capital Adequacy Ratio - CAR
* Statutory Liquidity Ratio - SLR
* Cash Reserve Ratio - CRR

Regulators|

* Insurance - IRDAI
* Banking - RBI
* Securities - SEBI
* Bankruptcy - IBBI

Insolvency,
bankruptcy and
reconstruction|

| Boards|

* BIFR
* IBBI
* CERSAI

|

Legislation|

* IBC
* SARFESI Act

Companies|

* ARCIL
* Edelweiss ARC
* IAMCL

Legislation|

* Banking Regulation Act, 1949
* Government Securities Act, 2006
* IBC, 2016
* RBI Act, 1934
* SARFESI Act, 2002
* Income-tax Act, 1961
* Companies Act, 2013
* Insurance Act, 1938
* FEMA, 1999
* RDDBFI, 1993

Tribunals|

* Company Law - NCLT
* Appellate - NCLAT
* Debt Recovery - DRT/Appellate - DRAT

Measures|

* Prompt Corrective Action

Other|

* Institute of Banking Personnel Selection
* Mumbai Consensus

*[v]: View this template
*[t]: Discuss this template
*[e]: Edit this template