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Mint
38 minutes ago
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SBI aims to gain market share in all districts: Chairman Setty
Mumbai: State Bank of India is aiming to be the market leader in all 787 districts of the country as it prepares for the next 10 years, said chairman C.S. Setty, in an interview with Mint on the occasion of its platinum jubilee celebrations. SBI's market share is at 22.54% in deposits and 19.36% in advances. Setty explained that the bank is taking a three-pronged approach to improving its market share. In areas where the bank has a dominant market share in deposits, SBI is looking to defend its existing business and acquire more of the pie. In metros, where the bank has a lower market share, it is looking to be a dominant player. 'Despite having almost 23,000 branches, we still find that in some developing urban areas, our presence is not there. These are what we call white spaces. So, we would like to set up branches in places where we need to have a branch and deploy a new sales force, whether it is our internal team or using some of the feet on the street from subsidiaries," he added. In areas where SBI has a dominant market share in deposits but a lower share in loans, the bank is looking to set up specialized branches. In its annual report, the SBI chairman also mentioned that the bank is considering forming strategic partnerships with fintech, agrotech and government-backed digital platforms to build a broader ecosystem. 'We are deepening our footprint in high-potential micro-markets while modernising our brand to better resonate with digital-first generations and underserved entrepreneurs. These steps support both customer acquisition and deeper engagement," the report said. To drive this strategy, the SBI chairman and his four managing directors are conducting a massive outreach programme across 104 zonal offices to align officers with the management's thinking. The bank's focus remains on improving profitability through disciplined cost management, optimising asset mix and expanding fee-based income streams. The outreach programmes start with a presentation tracing SBI's legacy over the last 70 years. Flashes of a 1955 advertisement convey the message of a bank that stands for the country and people. Challenges of asset quality, deposit mobilisation, outsourcing, and the penetration of the YONO app are some of the key themes of discussion. 'How do you future-proof our organisation from a customer service point of view and also the services which are offered across the channels? So, this is the primary message which I keep talking about and then there are some elements in terms of digitalisation, in terms of being compliant and in terms of a more market-oriented approach," Setty said.
Time of India
39 minutes ago
- Time of India
Mumbai civic body invites expression of interest for textile museum on mill site
Mumbai: BMC has invited expressions of interest (EOI) from reputed public companies, charitable trusts or societies for the development and long-term maintenance of a textile museum at the site of the India United Mill No. 2 & 3 in Byculla (East). The proposed museum is to be established on a 44,000 sq m plot — C.S. No. 831 of Mazgaon Division — at Kalachowky, with the selected partner expected to develop, operate, and maintain the facility for a period of 20 years without any financial commitment from the BMC. The civic body has positioned this initiative as part of a CSR-driven or privately funded heritage conservation effort, requiring an investment of Rs 80 crore to 100 crore from the selected entity. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai The EOI documents can be accessed on the BMC website and the deadline for submission is 3.30 pm on July 28. Interested parties must submit their proposals to the office of the executive engineer (headquarters) at the BMC main office in Fort. The BMC took over India United Mills 2 and 3 at Kalachowkie in 2009 to bring to life the mill culture through the museum on an area of 44,000 square metres. The project aims to restore the old mill buildings into a textile museum while also developing recreational spaces within the compound with the aim of educating the citizens about Mumbai's rich industrial history. Over the past few years, the civic body launched work on the establishment of a musical fountain over a pond, murals, and an amphitheatre, among other recreational spaces within the compound of the mill. According to the BMC, the work on this phase has now been concluded, with the final commissioning of the musical fountain underway. Launching the next phase of works, the civic body is now set to commence the restoration of the dilapidated mill structures, which will be redeveloped into a textile museum. The first phase work cost the BMC Rs 25 crore.
India.com
41 minutes ago
- India.com
Mukesh Ambani, Isha Ambani make big move, Reliance Retail acquires stake in this foreign company, it is of…, name of…
Home Business Mukesh Ambani, Isha Ambani make big move, Reliance Retail acquires stake in this foreign company, it is of…, name of… Mukesh Ambani, Isha Ambani make big move, Reliance Retail acquires stake in this foreign company, it is of…, name of… RRVL had reported a consolidated turnover of Rs 3.30 lakh crore for the year ended March 31, 2025. Reliance Retail Ventures Ltd (RRVL) has acquired a minority stake in UK-based FACEGYM for an undisclosed amount and plans to introduce the facial fitness and skincare brand in India, the company announced on Thursday. The investment is part of RRVL's broader strategy to expand its presence in the rapidly growing beauty and wellness segment. 'Through this partnership, Reliance Retail's Tira will spearhead FACEGYM's India foray – leading its local operations and market development, bringing the brand's innovative concept to the Indian consumer,' a joint statement said. Reliance To Establish FACEGYM In India Reliance will establish and scale FACEGYM's presence in India over the next five years, through a mix of standalone studios and curated spaces within select Tira stores across key cities, it said. Tira is an omnichannel beauty retail platform owned by Reliance Retail. 'This expansion will leverage Reliance's robust retail ecosystem, market expertise, and deep consumer insights to introduce and scale FACEGYM's unique offering in a rapidly growing beauty space,' it said. Founded by beauty and wellness entrepreneur Inge Theron, FACEGYM has pioneered a transformative approach to skincare by combining non-invasive facial workouts with advanced skincare formulations. 'The partnership reinforces Reliance Retail's broader strategy to scale its presence in the beauty and personal care vertical, anchored by Tira,' it said. Bhakti Modi On FACEGYM Bhakti Modi, Co-founder & CEO of Tira, said: 'FACEGYM sits at the unique intersection of beauty, wellness, and fitness – creating a category of its own. This aligns perfectly with the discerning beauty consumer in India who is experience-oriented, and increasingly drawn to science-backed, innovative concepts.' Angelo Castello, CEO of FACEGYM, said, 'With our current strategic partnerships, we are in a powerful position to turn FACEGYM into one of the only beauty services. This partnership with a leading conglomerate like Reliance will serve as a catalyst for our global expansion by establishing our presence in the dynamic Indian market.' RRVL, through its subsidiaries and affiliates, operates an integrated omni-channel network of 19,340 stores and digital commerce platforms across grocery, consumer electronics, fashion & lifestyle and pharma consumption baskets. (With Inputs From PTI) For breaking news and live news updates, like us on Facebook or follow us on Twitter and Instagram. Read more on Latest Business News on
