The State Bank of India has given a big surprise to its millions of customers. There is a good opportunity to restart the closed savings and current account in SBI. The State Bank of India (SBI) has launched a nationwide campaign to raise awareness about the importance of activating inoperative accounts. The bank said on Saturday that a savings or current account is considered inoperative when the customer has not made any transaction in the account for more than two years. SBI said in a statement that the re-KYC (Know Your Customer) process is required to activate these accounts.
It will be necessary to do KYC
The main message is the need for regular transactions in the account and preventing it from falling into the category of dormant accounts. SBI Chairman C. S. Shetty stressed the need to re-implement the KYC process in letter and spirit to keep PMJDY (Pradhan Mantri Jan Dhan Yojana) accounts in active status and enable customers to transact seamlessly. He urged bank representatives to use technology to bridge this gap and reach out to the end consumer, thereby improving the customer experience.
One-Day Workshop Organized
Ahead of the launch of the campaign, SBI conducted a day-long workshop in Gurugram to sensitize the general public about the importance of activating dormant accounts. The workshop emphasized the importance of PMJDY accounts and the importance of reactivating dormant accounts.
Additionally, the workshop showcased the implementation of artificial intelligence (AI) and machine learning (ML) models to classify customer service points (CSPs) based on their risk profile. By leveraging technology, SBI is setting a new standard for risk management and operational efficiency in the banking industry, as well as improving regulatory compliance and providing superior customer service.
He appreciated the efforts made by SBI in launching new initiatives to cope with industry demand and making the channel more flexible, risk-mitigating, and customer-oriented.
