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Customer experience remains central to SBI's growth strategy: Chairman

Customer experience remains central to SBI's growth strategy: Chairman

Time of India18-07-2025
Customer experience
continues to be the cornerstone of SBI's growth strategy, Chairman
C S Setty
said, as the bank was recognised as the 'World's Best Consumer Bank' for 2025.
The award to be presented by Global Finance magazine is based on the publication's comprehensive research and analysis, enriched by insights from corporate finance executives, analysts, and bankers across the globe, SBI said in a statement on Friday.
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Global Finance magazine will present the award to SBI Chairman C S Setty at the annual event titled World's Best Bank in Washington, on October 18, 2025 during the IMF/World Bank Annual Meetings, it said.
Speaking on the occasion, Setty said "customer experience remains central to our growth strategy. By simplifying on-boarding, enabling vernacular voice banking, and ensuring 24/7 digital support, we aim to deliver a seamless and inclusive experience across geographies, particularly for emerging segments in rural and semi-urban areas."
Further, he said, the bank is building
omni-channel engagement
models, supported by hyper-personalised offerings powered by AI.
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This global recognition reaffirms SBI's commitment to serving its about 52 crore customers with innovation, inclusivity, and excellence, delivering world-class banking experiences across every corner of the nation and beyond, he added.
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Some Kenyan runners see doping as a path to glory, and to basic sustenance
Some Kenyan runners see doping as a path to glory, and to basic sustenance

Time of India

timean hour ago

  • Time of India

Some Kenyan runners see doping as a path to glory, and to basic sustenance

ITEN , Kenya: Thousands of feet above the Great Rift Valley that runs through East Africa , the small city of Iten, Kenya, calls itself the Home of Champions . It has long produced and attracted world-class running talent, its high altitude and red dirt roads a training ground for thousands. The town also has a far less laudatory reputation. It is a well-documented center of a doping crisis that shows little sign of being tamed. Explore courses from Top Institutes in Please select course: Select a Course Category PGDM Product Management Design Thinking others Cybersecurity Data Science Project Management Degree Management Public Policy Healthcare Data Science MCA Data Analytics MBA Leadership Finance healthcare Digital Marketing Artificial Intelligence Operations Management CXO Others Technology Skills you'll gain: Financial Analysis & Decision Making Quantitative & Analytical Skills Organizational Management & Leadership Innovation & Entrepreneurship Duration: 24 Months IMI Delhi Post Graduate Diploma in Management (Online) Starts on Sep 1, 2024 Get Details Runners come here for access to competition, coaching talent and the benefit of training in thin air, all to try to earn riches from running. Many Kenyans who try to join the elite endure cramped and dirty living conditions, little food and separation from their families in service of their ambitions. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like How Much Does It Cost to Rent a Private Jet - The Prices May Surprise You! Private Jet I Search Ads Learn More Undo In a region where the average annual income is the equivalent of little more than $2,000 and the competition so intense, the potentially life-changing lure of banned substances, referred to locally as 'the medicine,' is obvious. A few thousand dollars in prize money or participation in a single overseas race can be the difference between runners and their families eating three meals a day and scratching around for the next bite. They calculate that doping is worth the risks not only of getting caught, but also of damaging their health and, in some cases, even dying. Live Events In that environment, the doping industry has flourished, with pharmacies in the region's health care hub city of Eldoret said to serve as a conduit for performance-enhancing substances. The crisis pulls together extreme poverty, moneymaking opportunity, corruption and a region overflowing with running talent that makes getting an edge harder than just about anywhere. 'This economic reality means the high-risk situation is always going to be impossible to completely eradicate,' said Brett Clothier, the head of global track and field's unit responsible for anti-doping efforts. Many runners and coaches suspect that their rivals dope, and they point to the roster of athletes barred from international competitive racing. Kenya, which has a smaller population than 25 other countries, has the most names on the list. Some of Kenya's most prominent runners have been caught doping and barred from competition. The women's marathon world-record holder, Ruth Chepngetich, who is from the Rift Valley, was suspended this month after testing positive for a prohibited substance. Her agent did not respond to a request for comment. International officials have made headway. Kenyans are now among the most-tested athletes anywhere, Clothier said, adding that as widespread as the doping is, it was far worse just a few years ago. Yet, global anti-doping bodies suspect that policing efforts may be touching only the edges of a cheating epidemic. Officials in Kenya responsible for tackling doping have been caught taking bribes. Some have been arrested. The scale of the problem prompted track and field's governing body to threaten to ban Kenya from global competition unless its government committed to spending $25 million to fight doping, a staggering amount in the anti-doping world. 'We have to teach them a different way of seeing things: that using illegitimate means of doing well is not going to help them in the long run; it damages their health, and they might not be successful,' said Barnabas Korir, an executive committee member of Kenya's athletics federation who also sits on a multiagency anti-doping body. 'It's a matter of changing the whole attitude.' Runners Everywhere Before dawn on any given day, runners kick up the red earth along the main road to Iten or other training routes. At the busiest times, it can seem that more people are running than walking alongside the road. The best are on teams of their own. Their up-and-coming athletes sleep, eat and train in camps. The most promising compete in races locally and regionally, and if they succeed, teams send them abroad to earn prize money or sponsorships. Thousands of other athletes exist on the periphery of this structure, outside the teams. On a Tuesday this year, one of them, Daniel Rotich, 24, was at Kipchoge Keino Stadium, named for one of Kenya's most revered runners. It's a ramshackle building that is a magnet for runners looking to improve. Rotich arrived before first light, waiting for a coach who would ultimately not show. With a young child and another on the way, Rotich convinced his wife that he should try running because he had shown promise in school. He had maize and beans to last another few weeks, enough time, he hoped, to improve his pace and attract the attention of a camp that would provide housing and food in return for a share of any earnings. His wife sent him the equivalent of a dollar every second day, he said, and he slept on a thin blue mat in a room with a mud floor that a friend let him use. 'It's hard, but we have to survive until you make it,' he said after running 10 drills of 1,000 meters each. 'It might take two years or six months.' His story is typical. 'You'll never find anybody running for health,' Toby Tanser, a former runner who has written books on Kenyan running, said one morning above the cheers of children emanating from a field day nearby. Though many runners here convince themselves that they can rise above the pack, Tanser said, 'the sad reality is that around 95% of runners training in Iten are never going to have a career.' A Better Life To beat the competition and earn life-changing income, which could mean as little as $5,000 or $10,000 a year, doping is an attractive proposition. Over the past decade, Alfred, an athlete who acknowledged using banned drugs, achieved success in modest races. The income, he said, allowed him to provide a home for his immediate family and his mother, who had been living in the mud-and-thatch house where he was raised. Doping was the only route he saw to a better life, said Alfred, who agreed to be interviewed on the condition his last name not be used. Getting access to banned substances is straightforward, according to anti-doping officials and athletes. Pharmacies line the streets of Eldoret, a city of about a half million and the region's principal commercial hub, about a 30-minute drive from Iten. Runners can procure just about anything they need to boost performance. For those who can't pay, some pharmacists or doctors will strike deals for a percentage of future earnings, athletes and anti-doping officials said. Pharmacists in and around Iten and Eldoret declined to be interviewed. 'If any dodgy doctor or pharmacist says, 'Try this,' people just do it,' said Clothier, the anti-doping official. The authorities' crackdown also took aim at drug suppliers. In May, an Indian national was arrested in Iten carrying prohibited drugs, including human growth hormones. Efforts such as presentations about the risks of doping have backfired, said Joseph Cheromei, a well-regarded local coach known for his hard line against doping. The presentations from anti-doping officials, Cheromei added, instead outlined for runners which substances would increase their speed. Scrambling to Avoid Capture Blanket testing is the latest tool that officials have devised to catch cheats in Iten. One morning in November, officials descended on a track where scores of athletes were training, locking the gates behind them. Pandemonium ensued, according to Ben Kipchirchir, a Kenyan runner. Kipchirchir said he witnessed athletes clamber over walls and vault fences to escape. 'They were running this way and that,' he said, smiling ruefully. Often, Kenyans and others taking drugs show little regard for the physical risks, such as dangerously elevated heart rates, kidney and liver disease, and even death. In the fall of 2024, at the same Iten track, a 20-year-old man trying out for an American college scholarship collapsed and died after a 3,000-meter trial, news reports said. He is one of many young Kenyan athletes to die while running, according to news reports about their deaths. The causes of death have been hard for athletics officials to determine because they have been unable to get access to autopsy results. 'If someone drops dead like that, an athlete who is fit, a young one, there has to be a reason,' said Korir, the Kenyan official. 'It can't be someone just drops dead.' Kipchirchir's goal to go pro gets harder with each day, as younger rivals join the scramble to get ahead. Wearily, he watches them speed up, ultimately — thanks to 'the medicine,' he said — blitzing past him in the race to change their lives. 'It's not fair,' he said.

Q1 Results Next Week: Airtel, SBI, LIC And Tata Motors Among 500+ Companies To Declare Earnings
Q1 Results Next Week: Airtel, SBI, LIC And Tata Motors Among 500+ Companies To Declare Earnings

News18

time6 hours ago

  • News18

Q1 Results Next Week: Airtel, SBI, LIC And Tata Motors Among 500+ Companies To Declare Earnings

Last Updated: Over 500 companies, including SBI, Airtel, LIC, and Tata Motors, will announce their Q1 results next week. The upcoming week is expected to be one of the busiest earnings weeks for the Indian stock market, with over 500 companies scheduled to announce their April–June quarter (Q1) results for FY 2025-26. Investors and analysts will be closely tracking these announcements, especially from large-cap companies across banking, telecom, auto, real estate, and insurance sectors. The results are expected to guide market sentiment and influence the direction of stocks in the coming days. The week begins with real estate major DLF Ltd reporting its earnings. Alongside DLF, companies like Marico Ltd, Shree Cement, and Sona BLW Precision Forgings are also scheduled to announce their Q1 results. These updates will be important in assessing the performance of the realty and FMCG sectors. Tuesday, August 5: Airtel, Adani Ports, Britannia On Tuesday, the focus will shift to the telecom and logistics sectors. Bharti Airtel Ltd, one of India's top telecom players, and Adani Ports, a key logistics operator, will release their financials. Other important companies reporting include Britannia Industries, Lupin, Torrent Power, Container Corporation of India, and Berger Paints. Midweek earnings will feature two-wheeler major Bajaj Auto and adhesive leader Pidilite Industries. Investors will also watch out for results from Hero MotoCorp, Bharat Forge, Divi's Laboratories, Trent, and Bajaj Holdings. These announcements are likely to reflect trends in auto sales and manufacturing demand. Thursday, August 7: LIC, Titan, Godrej Consumer Thursday will bring results from Life Insurance Corporation (LIC), India's biggest insurance provider, and Titan, a leader in jewellery and fashion accessories. Other earnings scheduled for the day include Godrej Consumer Products, NBCC (India), and Cummins India, giving insight into consumer goods and infrastructure sectors. The week ends with major Q1 updates from State Bank of India (SBI) and Tata Motors, two companies that hold significant weight in the Indian stock market. Also reporting are Grasim Industries and Info Edge (India), from the cement and internet services sectors, respectively. With such a long list of important announcements, the coming week could significantly affect market trends and investor strategies. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.

Arcil IPO: Avenue, SBI to reduce stake, GIC affiliate to exit
Arcil IPO: Avenue, SBI to reduce stake, GIC affiliate to exit

Economic Times

time6 hours ago

  • Economic Times

Arcil IPO: Avenue, SBI to reduce stake, GIC affiliate to exit

Arcil Ltd, India's first bad loan aggregator, is set for an IPO with existing shareholders like Avenue Capital, SBI, GIC's Lathe Investment, and Federal Bank planning to sell 10.54 crore shares. Avenue Capital will dilute its stake, while Lathe Investment will exit completely. Arcil, the second largest ARC in India, reported a profit of Rs 355.31 crore in March 2025. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New York based Avenue Capital Group State Bank of India (SBI), Singapore's GIC owned Lathe Investment and Federal Bank will sell an aggregate of 10.54 crore shares in Arcil Ltd in what will be the first initial public offer (IPO) for a bad loan aggregator in company filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Saturday. Avenue which holds 69.73% of equity in the company will sell 6.87 crore shares, diluting its stake to 48.57% while SBI will sell 1.94 crore shares to reduce its holding to 13.96% from 19.95%, GIC affiliate Lathe Investment will completely exit the company by selling all it 5% stake or 1.62 crore shares, the DRHP bank shareholder Federal Bank will sell 10 lakh shares to reduce its stake to 0.95% from 1.27%. The entire issue is an offer for sale by existing shareholders with no fresh shares being Capital, IDBI Capital and JM Financial are the bankers to the in 2002, Asset Reconstruction Company (India) Ltd was the first asset reconstruction company in India, backed by banks like IDBI Bank , SBI and ICICI Bank . Currently Avenue and SBI are identified as promoters of the company, together holding 89.68% of the has been in operations for more than two decades. Over the years banks have exited the ARC mostly selling stake to 2022, Avenue Capital acquired 44.6% in the company from ICICI Bank, IDBI Bank and ICICI Home Finance for a consideration of nearly ₹840 is currently the second largest in terms of assets under management (AUM) aming ARCs in India with Rs 15,230.031 crores. It earns its revenue from management fees/ trusteeship fees, portfolio recovery fees, income from investments and write Bank sold its 19.18%, ICICI Bank 13.26% while ICICI Bank's housing finance sold its 2.26% at Rs 58 a share, a Rs 48 premium to the Rs 10 face value. Punjab National Bank was the latest to sell its 10% stake in March 2023 at Rs 60.53 apiece. It remains to be seen what price the shareholders decide to sell their stake the year ended March 2025, the revenue from operations for Arcil were at Rs 596.42 crore with a profit after tax of Rs 355.31 of March 2025, had acquired Rs 72,657.30 crore in total principal debt at a cost of Rs 38,155.63 crore or 52.51% of the total principal debt and made recoveries of Rs 28,459.70 crore.

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