SBI allocates Rs. 70 Crore to combat the 2nd wave of COVID-19

· The Bank allocates Rs. 30 Crore for setting up 1,000 bed makeshift hospitals for COVID-19 patients in some of the worst affected states

· Additional sum of Rs. 21 Crore has been allocated to Circles to support initiatives at the local level by way of life-saving healthcare equipment, oxygen supply to hospitals, COVID-19 care centres, ambulances to transport COVID-19 patients, PPE kits, masks, providing food relief, etc.

· The Bank to spend Rs. 10 Crore to supplement the Government’s efforts in genome-sequencing

· Apart from this, Rs. 10 Crore will be earmarked to partner and collaborate with on-ground NGOs to address the community needs

· The Bank will continue to serve citizens through its extensive network of over 22,000 branches

Mumbai – May 03, 2021: True to its vision and mission to support the country in fighting with adverse situations, State Bank of India (SBI) has allocated Rs. 71 Crore, to undertake various support initiatives to help the country combat the second wave of COVID-19. The Bank has dedicated Rs. 30 Crore to setup 1,000 bed makeshift hospitals, 250 bed ICU facilities and 1,000 bed isolation facilities across some of the worst-hit states. These facilities would be set up in collaboration with government hospitals and Municipal Corporations of the respective cities.

SBI is in talks with various designated authorities to explore partnerships for setting up makeshift hospitals. The Bank will also contribute Rs. 10 Crore for genome-sequencing equipment / lab and vaccine research equipment / lab to the Government.

Additionally, SBI has allocated Rs. 21 Crore to all its 17 Local Head Offices to address the urgent medical needs of the citizens including procuring life-saving healthcare equipment and enhancing the oxygen supply to hospitals. Bank will continue to provide PPE kits, masks, rations and cooked meals. The Bank will also spend Rs. 10 Crore in partnering with NGOs to undertake community-based testing, strengthening vaccination drives, creating helpline for COVID-19 related matters, providing oxygen supply and other critical activities.

Shri. Dinesh Khara, Chairman, SBI said, "We are trying our best to make a small contribution to society in the fight against the second wave. We are committed to contribute funds, resources and reach out to the citizens of India and also join in the Government’s efforts in fighting the virus. I urge everyone to offer their support in any form to the people in need and contribute towards making the country COVID-19 free.”

SBI has tied with various hospitals for the vaccination of its employees. The Bank has also decided to bear the cost of vaccination for its employees and their dependent family members. The Bank has also converted 60 of its training centres across the country into isolation/Quarantine centres for affected employees and their family members

Last year, SBI had pledged 0.25% of its annual profit to fight the coronavirus outbreak in India and has donated over Rs. 108 Crore to the PM CARES Fund. In addition, SBI has also contributed Rs. 11 Crore toward supporting the vaccination drive of the government.

About State Bank of India:

State Bank of India is the largest commercial bank in terms of assets, deposits, branches, customers, and employees. The bank has a deposit base of over Rs. 35 lakh crore and advances of more than Rs. 26 lakh Crore with CASA ratio of about 45%. The Bank commands over 34% market share in home loans and around 33% in the auto loans segment. The Bank has the largest network of 22,000 branches, nearly 58,000 ATM / CDMs and total BC outlets of over 71,000. The number of customers using internet banking and mobile banking stand at 85 million and 19 million respectively. The Bank’s integrated digital and lifestyle platform YONO mobile app has over 37 million registered users and witnesses 9 million logins per day. Accelerating the digital agenda, over 1.5 million accounts has been opened through YONO in the quarter ended December 2020. In terms of digital lending, bank disbursed pre-approved personal loan (PAPL) worth Rs. 5300 Crore via YONO in the same quarter. On social media, SBI has the highest number of followers on Facebook and Twitter amongst all banks worldwide.