India's biggest lender SBI to set up AI, fintech project finance unit

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India's biggest lender SBI to set up AI, fintech project finance unit

^{Published on 2025-03-13 02:20:51 - Moneycontrol}

SBI plans to complete the project within a year and will hire 'specialized professionals' to staff it, said Ashwini Kumar Tewari, a managing director at the bank.

The State Bank of India (SBI), India's largest lender, has announced plans to establish a new unit focused on AI and fintech project financing. This initiative aims to leverage artificial intelligence to enhance its financial services, particularly in project finance. The move is part of SBI's broader strategy to integrate advanced technology into its operations, thereby improving efficiency, reducing costs, and offering innovative financial solutions. The new unit will not only focus on financing projects that incorporate AI and fintech but also on developing in-house capabilities to better serve its clients in these rapidly evolving sectors. This step is seen as a response to the growing demand for tech-driven financial products and services in India's banking sector.

Read the Full Moneycontrol Article at:
[ https://www.moneycontrol.com/news/business/markets/india-s-biggest-lender-sbi-to-set-up-ai-fintech-project-finance-unit-12963726.html ]

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