The State Bank of India (SBI) recently inaugurated an ATM on a Houseboat at Dal Lake, Srinagar. Known as the floating ATM, it was inaugurated by the SBI Chairman Shri Dinesh Kumar Khara on 16 August 2021. SBI had just recently tweeted out the pictures from the event on its official Twitter handle. The banks said that this was done in an attempt to be a much-needed tourist attraction and that it would add to the charm of Srinagar.
The tweet read, “SBI opened an ATM on a Houseboat at #DalLake, Srinagar for the convenience of locals & tourists. It was inaugurated by the Chairman, SBI, on 16th August. The #FloatingATM in the popular Dal Lake fulfils a long-standing need & will be an added attraction to the charm of Srinagar.”
This is not SBI’s first attempt at this kind of floating ATM idea. It should be noted that the lender had previously launched its first floating ATM in 2004 in Kerala. The machine was installed on the Jhankar yacht owned by Kerala Shipping and Inland Navigation Corporation (KSINC). The ATM operated between the Ernakulam and Vaypeyan regions.
SBI continues to push its efforts to bring in innovation and spread its reach across the country. As it stands, it is the largest commercial bank in terms of assets, deposits, branches, customers, and employees. It is also the largest mortgage lender in the country which has so far fulfilled the home buying dreams of 30 lakh Indian families. The home loan portfolio of the bank has crossed the milestone of Rs. 5 lakh crore. As of June 30, 2021, the bank has a deposit base of over Rs 37 lakh crore with a CASA ratio of nearly 46 per cent and advances of more than Rs 27 lakh crore. SBI commands a market share of 34.77 per cent and about 31.11 per cent in the home loans and auto loans segment respectively.
The massive lender has one of, if not, the largest network in the country that clocks in at 22,224 branches and 63,906 ATM / CDM in India with 71,705 BC outlets. The bank also has a massive customer base with around 91 million customers using their internet banking and around another 20 million using mobile banking services. One of SBI’s most popular features, SBI YONO, has close to 36 million registered users, with around 11 million logins per day. To further showcase how the sheer volume of it, it should be noted that the bank had seen around 1.5 lakh accounts being opened through YONO in the quarter ended in June of 2021. In terms of digital lending, the bank disbursed personal loans of around Rs 2,430 crore through the YONO mobile app in the same quarter. On social media platforms, SBI has the highest number of followers on Facebook and Twitter amongst all banks worldwide.
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