SBI Empowers Rural Youth Entrepreneurs through Jagriti Yatra 2024 to Drive India’s Vision of a ‘Viksit Bharat’

SBI Empowers Rural Youth Entrepreneurs through Jagriti Yatra 2024 to Drive India’s Vision of a ‘Viksit Bharat’

Supporting a transformative 8,000-km entrepreneurial journey to inspire 500 young aspirants across Tier 2 and Tier 3 regions

Mumbai, November 17, 2024 (GNI) : State Bank of India, the country’s largest bank has partnered with Jagriti Yatra 2024, supporting an inspiring 8,000-km, 15-day entrepreneurial journey across India’s Tier 2 and Tier 3 regions. Through this partnership, SBI is helping create opportunities for 500 young aspirants to explore entrepreneurial avenues, receive expert mentorship, and engage in practical, hands-on learning. By fostering the growth of young entrepreneurs, SBI aims to advance the vision of a ‘Viksit Bharat’ by 2047, ensuring that aspiring innovators have the skills and resources necessary to drive sustainable economic development and contribute to a self-reliant India.

In a continued effort to encourage entrepreneurship across the nation, State Bank of India has been empowering every Indian with training and financial assistance. The bank has established 152 Rural Self Employment Training Institutes (RSETIs), focusing on skill development and training rural youth to help them build their own micro-enterprises. These institutes have successfully trained over 11.5 lakh candidates, with 74% of them establishing self-employment opportunities. Additionally, with a SHG loan portfolio exceeding ₹50,000 crores, SBI is a market leader in the Self-Help Group (SHG) loan segment, providing financial support to more than 1 crore women members. Beyond SHGs, the bank has disbursed over ₹49,000 crore Mudra loans and approximately ₹1,550 crore PM SVANidhi loans during FY24, reinforcing its role in enabling sustainable entrepreneurship and economic empowerment across India.

Reflecting on the partnership, Shri Rana Ashutosh Kumar Singh, MD, SBI, said, “At SBI, we believe that entrepreneurship is the cornerstone of a self-reliant and progressive India. As we work towards the vision of a Viksit Bharat by 2047, it is essential to empower young entrepreneurs with the skills, resources, and opportunities they need to drive innovation and growth across the nation. Our association with Jagriti Yatra underscores our commitment to fostering a new generation of entrepreneurs who will play a pivotal role in shaping India’s future. By supporting initiatives like Jagriti Yatra, we aim to contribute to a thriving entrepreneurial ecosystem that drives sustainable development and prosperity for all.”

About State Bank of India

State Bank of India is the largest commercial bank in terms of assets, deposits, branches, customers, and employees. It is also one of the largest mortgage lender in the country which has so far fulfilled the home buying dreams of around 30 lakh Indian families. The home loan portfolio of the bank has crossed Rs. 7.64 lakh crore. As of September 2024, the bank has a deposit base of over Rs. 51.17 lakh crore with CASA ratio of 40.03% and advances of more than Rs. 39.20 lakh crore. Ranked as the 4th most trustworthy bank in the world by Newsweek, SBI commands a market share of 27% and 19.2% in home loans and auto loans respectively. SBI has the largest network of 22,640+ branches and 63,000+ ATMs / ADWMs in India with close to 80,300 BC outlets. The number of customers using internet banking and mobile banking stand at 132 million and 287 million respectively. With SBI’s digital strategy right on track – the bank witnessed 61% of new savings accounts being opened through the integrated digital and lifestyle platform YONO in Q2FY25. YONO, which has more than 8.1 crore registered users, witnessed 37 lakh new YONO registrations in Q2FY25. In terms of digital lending, the bank disbursed pre-approved personal loans worth Rs. 1,253 crores through YONO during Q2FY25. SBI also has the highest number of followers on Facebook and X amongst all banks worldwide.ends GNI