Latest news with #SBMBankIndia
Time of India
07-08-2025
- Business
- Time of India
SBM 'Banks' on rap ad to protect you from cybercrime
With a fusion of India's rich cultural heritage and modern digital communication, SBM Bank India has unveiled "MudraRap," an innovative campaign designed to raise awareness about cybersecurity. The initiative combines the expressive hand gestures of classical Indian dance , known as mudras, with the high-energy rhythm of rap music to connect with the nation's digitally savvy population. The campaign comes at a time when cyber threats grow increasingly sophisticated, with financial frauds and social engineering scams on the rise. SBM Bank India's approach reimagines cybersecurity awareness , moving it from a dry, technical subject to a vibrant, cultural experience, said a media statement. The core of the "MudraRap" campaign is a video in which expressive hand gestures derived from classical dance and everyday movements are paired with a fast-paced rap composition. An AI-generated voiceover and background score deliver key cyber safety messages, such as safeguarding passwords, recognising scam attempts, and protecting personal information online. The rap's contemporary lyrics are crafted to resonate specifically with millennial and Gen Z audiences. This campaign is a natural extension of SBM Bank India's long-standing commitment to integrating art into its brand philosophy. "India has always told its stories through art," said Sunita Prabhu, Head of Marketing & Communication at SBM Bank India. "With MudraRap, we wanted to tap into this cultural power to deliver an urgent and timely message—that of CyberSuraksha . We've taken a form rooted in our heritage and layered it with words and music that speak to the current generation." The powerful hand gestures, or "Mudra-graphy," featured in the campaign were conceptualized and performed by Tithi Das, a renowned Odissi dancer from Kolkata. Das's choreography seamlessly blends tradition with innovation, transforming classical dance into a compelling visual language for a modern message. The campaign's urgency is underscored by alarming statistics on cybercrime. Niju Mohan, Chief Information Security Officer & Head of Operational Risk at SBM Bank India, highlighted the scale of the problem. "Cyber-enabled financial frauds are rising sharply, with social engineering driving nearly one-third of the cases," Mohan stated. "Digital Arrest scams alone caused losses exceeding ₹2,000 crore last year. As people remain the weakest link in the cybersecurity chain, human behavior must be treated as the first line of defense. Continuous awareness campaigns are essential to build resilience across audiences, and MudraRap aims to raise awareness in this critical space." Watch the film here:
Mint
19-05-2025
- Business
- Mint
SBM Bank India ties up with ICICI Prudential for life insurance products
SBM Bank India has tied up with ICICI Prudential Life Insurance Company to offer an array of life insurance products to the bank's customers. In a statement, SBM Bank India said on Monday this bancassurance partnership will enable the bank to cater to its customers a diverse set of solutions ranging from term insurance, long-term savings and wealth creation products to effectively planning for income on retirement. Nikhil Rajadhyaksha, Head – Retail Banking at SBM Bank India, said that with insurance penetration in India at 3.7 per cent in 2023-24, well below the global average of 7 per cent, there is substantial scope for market expansion. 'By combining ICICI Prudential Life Insurance's innovative product portfolio and digital expertise with SBM Bank's vision of becoming a financial supermarket, we aim to deliver seamless, customer-centric solutions that enhance financial well-being and empower individuals with greater financial protection,' Rajadhyaksha also said. SBM Bank India has 22 branches across India, including its recently opened branch in Tivri, Naigaon, Maharashtra. As on March 31, 2025, ICICI Prudential Life Insurance Company had an asset under management (AUM) of ₹ 3.09 lakh crore and a total in-force sum assured of ₹ 39.43 lakh crore with over 9 crore lives covered. ICICI Prudential Life Insurance has said it has received an order from GST Commissioner (Appeals) upholding tax demand of about ₹ 3.67 crore. On July 2, 2024, Central Goods and Service Tax (CGST) authorities in Mumbai had passed an order in this regard. The order denied part of service tax credit, which the company migrated to the GST regime in the 2017-2018 fiscal year, when GST was launched. Subsequently, the company had filed an appeal before the Commissioner (Appeals). In a regulatory filing, ICICI Prudential said: "the company has received an order from the Commissioner of CGST & Central Excise (Appeals), Mumbai, on April 17 upholding the tax demand." The order includes GST liability of over ₹ 1.83 crore and penalty of an equal amount. "The company shall file an appeal against the said order before appropriate authority," ICICI Prudential Life said. As on March 31, 2025, ICICI Prudential Life Insurance had an AUM of ₹ 3.09 lakh crore. and a total in-force sum assured of ₹ 39.43 lakh crore with over 9 crore lives covered.
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Business Standard
19-05-2025
- Business
- Business Standard
SBM Bank India, ICICI Prudential Life forge bancassurance partnership
SBM Bank India and ICICI Prudential Life Insurance Company have entered into a bancassurance partnership to offer an array of life insurance products to the bank's customers. This tie-up will enable the bank to cater to its customers a diverse set of solutions ranging from term insurance, long-term savings and wealth creation products to effectively planning for income on retirement, SBM Bank India said in a statement on Monday. Nikhil Rajadhyaksha, Head Retail Banking, SBM Bank India, said that with insurance penetration in India at 3.7 per cent in 2023-24, well below the global average of 7 per cent, there is substantial scope for market expansion. "By combining ICICI Prudential Life Insurance's innovative product portfolio and digital expertise with SBM Bank's vision of becoming a financial supermarket, we aim to deliver seamless, customer-centric solutions that enhance financial well-being and empower individuals with greater financial protection," Rajadhyaksha said. SBM Bank India has 22 branches across the country, including its recently opened branch in Tivri, Naigaon, Maharashtra. As on March 31, 2025, ICICI Prudential Life Insurance Company had an asset under management of Rs 3.09 lakh crore and a total in-force sum assured of Rs 39.43 lakh crore with over 9 crore lives covered. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
