SBI to launch new current accounts and savings accounts in FY24

SBI to launch new current accounts and savings accounts in FY24: SBI is planning to launch new variants of the current a/c (with balances of ₹50,000 and ₹50 lakh) and the “Parivar” (family) savings a/c in FY24.

Aim: To minimize the gap between deposit growth and credit growth.

April 2023 Current Affairs Quiz

Domestic deposits of SBI grew 8.86% year-on-year (y-o-y) by the end of 2022. While domestic advances were up 16.9% y-o-y. SBI also expects that it’s domestic deposits and domestic advances will grow about 12% and 16% y-o-y, respectively, in FY24.