'Yonoisation of the bank is the next goal'

CS Setty believes that ‘Yonoisation’ — simplification - will create intuitive, seamless journeys for SBI’s customers and employees.

- @ CS SETTY, CHAIRMAN, STATE BANK OF INDIA

He tells Mahesh Nayak and Joydeep Ghosh that besides wealth management, transaction banking and trade finance will be key to the bank’s growth strategy. Excerpts:

Going forward, how do you reimagine banking from SBI’s perspective?

Reimagining banking at SBI is a long-term journey, aligned with the Viksit Bharat vision for 2047, but in the shorter term, our focus is on 2030. Having already crossed ₹100 lakh crore in business, and adding nearly ₹10 lakh crore every year, we could be double in size within six to seven years. To manage that scale, we must invest continuously in people, processes, products, and technology.

One of the primary drivers of this transformation is what I call the ‘yonoisation of the bank’, essentially simplification. It’s about creating simple, intuitive journeys for customers and employees alike. Project Saral, I believe this will be a game changer, making both our digital and branch platforms stronger, more productive, and more customer-oriented.

Going forward, we will position transaction banking and trade finance as central to SBI’s growth strategy.

You have spoken about increasing focus on wealth management. Will this be driven by lateral hires or built in-house?

Our ambition is to build trusted wealth offerings at scale, accessible across geographies and segments. We have defined three categories —high-value clients above ₹1 crore, served by market-recruited specialists; mass affluent customers in the ₹30-50 lakh range, supported by nearly 3,000 internally trained relationship managers; and a wider base served through virtual RMs, ensuring reach and personalisation. While selective lateral hiring will support specialised needs, the backbone remains our internal resources, strengthened by technology.