SBIN

✅ SBI Bank – Recent News & Updates

✅ SBI Bank – Recent News & Updates 1. SBI market cap crosses ₹9 lakh crore SBI has reached a major milestone by crossing a market cap of ₹9 trillion. The stock has rallied strongly this year, supported by steady earnings, lower NPAs, and strong credit growth. This makes SBI the first PSU bank to achieve this valuation level. 2. SBI to discontinue mCASH service The bank will discontinue its mCASH service (used for simple fund transfers) after 30 November 2025. Customers will need to rely on UPI, IMPS, NEFT, RTGS, and regular beneficiary-based transfers instead. This is part of SBI’s effort to streamline its digital channels. 3. Major IT infrastructure modernisation coming SBI has announced a plan to completely modernise its core banking infrastructure over the next two years. This includes: Private cloud deployment Microservices-based architecture Over 300 new APIs Faster digital banking services This overhaul aims to improve reliability, reduce downtime, and prepare SBI for high-scale digital workloads. 4. SBI supports another round of PSU bank mergers Top SBI leadership has indicated support for a new wave of public-sector bank mergers. The idea is to create larger, more efficient banks that can support India’s long-term credit needs. If implemented, this could reshape the PSU banking landscape again. 5. SBI joins India International Bullion Exchange SBI has joined the India International Bullion Exchange (IIBX) as a special category participant and has already executed its first gold trade. This move strengthens SBI’s position in the gold trading and bullion ecosystem and adds a new business vertical