Making ofafinancial powerhouse (The SBI way to surge ahead)

Finance is the life blood of industry. Entire economy revolves around the concept of finance, as such banks and financial institutions dealing with money and finance get prominence. State run banks are thus accelerators of growth. State Bank of India, though a nationalized bank, is generally reckoned as Government bank. Due to minimal profitability and productivity many public sector undertakings are being termed as White elephants. Position of Banks and financial institutions did not improve much rather it worsned during the recession of 2008 which still has its adverse effects. Finandal sector received rude shocks in such a situation it is worth noting how SBI faced the recession. Parivartan was the key word in the functioning of SBI which is presently headed by Mr. O.P. Bhatt. The article reviews various innovative steps taken, restructuring and re-organizing done at branch, Regional, Zonal and National level to meet current challenges.