DIRECTORS' REPORT

Global Economic Scenario

The global economy has entered a critical phase in 2026, with the sudden outbreak of war in West Asia adversely affecting the global growth outlook. Disruption of shipping traffic in the Strait of Hormuz, energy price shock, trade disruption, and loss of business confidence are some of the key themes that have made headlines since February.

West Asia is a significant producer of ammonia and nitrogen - key ingredients in many synthetic fertilisers. Iran is one of the largest exporters of methanol while Qatar produces around 35% of the world's helium, used in the production of semiconductors. The impact of the conflict is not localised or restricted to just energy infrastructure but also affects other key industrial intermediate inputs, with wider implications for the global economy.

Against this development, the IMF World Economic Outlook in April 2026 projected a slowdown in global growth from 3.4% in 2025 to 3.1% in 2026. The conflicts' impact is being felt across geographies. The Euro Area growth is expected to taper from 1.4% in 2025 to 1.1% in 2026. Growth in emerging markets is also expected to soften to 3.9% in 2026 from 4.4% in 2025. The IMF projections are conditional on limited conflict, indicating that the growth outlook is tilted to the downside if peace talks fall short of expectations.

The war's impact on energy prices was immediate. Brent crude oil traded at around $110 per barrel at the time this report was finalised. The rising commodity prices may result in firmer inflation expectations going ahead. Projections for global headline inflation stand at 4.4% according to IMF, 52 bps higher than its pre-conflict forecast.

The closure of Strait of Hormuz has further impacted global trade, already battered by the impact of tariffs in 2025. World trade volume growth is expected to decline from 5.1% in 2025 to 2.8% in 2026. Export of both goods and services is also projected to decline in 2026.

India's Economic Scenario

The Indian economy demonstrated resilience amid trade tensions with the US and registered a growth of 7.6% in FY 2026, as per the Second Advanced Estimates. The manufacturing sector remained a major driver of growth in the last two years. Private final consumption expenditure -the mainstay of aggregate demand - revived and recorded a growth of 7.7% in FY 2026 while gross fixed capital formation expanded by 7.1% in FY 2026, higher than 6.4% growth seen in FY 2025. The inflationary conditions during FY 2026 also remained benign with CPI Inflation registering an average growth of 2.1% during the year. Additionally, progress in summer crop area coverage remained satisfactory till the end of April despite concerns over the potential impact of El-Nino on water availability.

Union Budget 2026-27 continued to focus on reforms in agriculture, MSME, investment, and exports, alongside key areas such as taxation, power sector, urban development, mining, and financial and regulatory sectors, to strengthen growth potential and global competitiveness. However, the policy calculus could not have anticipated the sudden outbreak of war in West Asia. The war resulted in a brief period of LPG shortage triggering contingency measures centred around energy supplies. Official communications indicate that Indian ships have safely passed the Strait of Hormuz but uncertainty around ship movements persist.

The Government, in March 2026, extended the RELIEF (Resilience & Logistics Intervention for Export Facilitation) scheme to support exporters affected by war-related disruptions in the Gulf and West Asia. The Reserve Bank of India (RBI) has also allowed pre- and post-shipment credit of up to 450 days until June 2026. Periodically released 'Inter-Ministerial Briefing on Recent Developments in West Asia' indicates the span of policy measures to accommodate and absorb the shock. Furthermore, fertiliser availability is being ensured, LPG hoarding is being checked and full custom duty on select critical petrochemical products is being exempted to shield the industry. Moreover, Emergency Credit Line Guarantee Scheme 5.0 has also been approved to support MSME and airlines sector.

Currently, the war's full impact on the Indian economy is difficult to quantify owing to uncertainty about its duration. However, on the qualitative front, it has possibly impacted rice and bananas, engineering goods, and pharmaceuticals business. The indirect impact includes reordering of shipping routes diverting via the Cape of Good Hope. The Real GDP growth for 2026-27 is now projected at 6.9%.

Banking Business

FY 2026 was a good year for the banking sector. Both public sector banks and private sector banks saw healthy business growth with the former's combined net profit reaching ? 1.98 lakh crore in FY 2026. During the period, the aggregate advances and deposits registered a y-o-y growth of 16.1% and 13.5% respectively, while the credit to deposit ratio at system level reached 81.4%. The wedge between deposits and credit growth persisted all through the year.

The health of banking system further improved during FY 2026. For public sector banks (PSB) the capital adequacy improved in FY 2026. As per audited financial for March 2026 capital adequacy ratio of PSBs was in the range 15.40% to 19.78%. In general, there was no significant pressure on asset quality and the net NPA of PSBs was in the range 0.13% to 0.79%. The net interest margins also stayed healthy for PSBs, averaging around 3% as of March 2026.

The Reserve Bank of India (RBI), by the end of FY 2026, maintained the repo rate at 5.25% while retaining a neutral stance. The year witnessed a slew of measures by RBI targeting customer protection, deposit insurance, market development and strengthening banking regulations. Few notable announcements include reviewing of non-fund-based facilities by banks, rolling out Expected Credit Loss (ECL) framework for provisioning by banks, revising Basel framework on Standardised Approach for Credit Risk, Risk Based Premium Framework for Deposit Insurance, and permitting acquisition financing by banks, among others.

Outlook

FY 2026 was a good year for India and the Indian banking sector, although the outbreak of war in West Asia towards the close of the financial year somewhat clouded the future outlook. Nevertheless, we foresee a robust demand and continued momentum in fixed capital formation in FY 2027, supported by increased government capital expenditure. Accordingly, the macros are expected to evolve along anticipated lines in the next financial year. The GDP growth is expected at 6.9% as per RBI, which is strong given the vulnerabilities in the external sectors. The domestic demand continues to be robust. The domestic inflation is expected to rise to 4.6% in FY 2027 but is fully aligned with RBI mandate. The numbers indicate that interest rates are likely to remain steady in the foreseeable future, subject to incoming data.

Financial Performance

Net Profit and Operating Profit

Net profit increased by 12.88% to ?80,032 crore in FY 2026 from ?70,901 crore in FY 2025. The Operating Profit of your Bank for FY 2026 increased by 11.25% to ^1,23,015 crore from ^1,10,579 crore in FY 2025.

Provisions and Contingencies

Total provision and contingency increased by 8.33% from ?39,679 crore in FY 2025 to ?42,983 crore in FY 2026. Major provisions made in FY 2026: Provision of ?15,422 crore for non-performing assets (as against ?14,418 crore in FY 2025) and write back Investment depreciation provision of ?14 crore (as against provision of ?514 crore in FY 2025) during the year and provision for Standard Assets of ?1,608 crore (as against ?303 crore in FY 2025) was made during the year. The Provisioning to Gross Non-Performing Assets ratio (including AUCA) of the Bank as on 31^st March, 2026 is 91.97% (Previous Year 92.08%).

Net Interest Income

Net interest income increased by 4.08% to ^1,73,120 crore in FY 2026 from ^1,66,340 crore in FY 2025. Total interest income increased from ^4,61,864 crore in FY 2025 to ^4,82,797 crore in FY 2026 registering a growth of 4.53%. Total interest expenses increased by 4.79% from ^2,95,524 crore in FY 2025 to ^3,09,677 crore in FY 2026. Interest expenses on deposits increased by 7.59% from ^2,57,228 crore in FY 2025 to ^2,76,756 crore in FY 2026.

Assets and Liabilities

Total assets of your Bank have increased by 14.18% to ^76,23,012 crore as at the end of March 2026 from ^66,76,053 crore at the end of March 2025. Net loan portfolio increased by 17.16% to ^48,77,895 crore as at the end of March 2026 from ^41,63,312 crore as at the end of March 2025. During the period, the Investments increased by 6.55% to ^18,01,254 crore from ^16,90,573 crore. The major portion of investment in the domestic market was in government securities.

Your Bank's aggregate liabilities (excluding capital and reserves) rose by 13.53% to ^70,78,570 crore as on 31^st March, 2026 from ^62,34,891 crore as on 31^st March, 2025. Deposits rose by 11.03% and stood at ^59,75,642 crore as on 31^st March, 2026 against ^53,82,190 crore as on 31^st March, 2026. Borrowings increased by 29.75% to ^7,31,254 crore as at the end of March 2026 from ^5,63,573 crore as at the end of March 2025.

Reserves and Surplus

An amount of ?24,010 crore (as against ?21,270 crore in FY 2025) was transferred to Statutory Reserves. An amount of ?6,666 crore (as against ?2,172 crore in FY 2025) was transferred to Capital Reserves. No transfer to Investment Fluctuation Reserve in FY 2026 and FY 2025.

Dividend

Your Bank has declared a dividend of ?17.35 per share @1735% for the year ended 31^st March, 2026.

1,735%

Dividend on the face value of ?1/share

Progress of Implementation of IND AS

RBI vide Circular DBR.BP.BC. No.29/21.07.001/2018-19 dated 22^nd March, 2019 deferred implementation of Ind AS till further notice. However, RBI requires all banks to submit Proforma Ind AS financial statements every half year. Accordingly, your Bank is preparing and submitting the RBI Proforma Ind AS financial statements every half year after getting approval of the Steering Committee headed by MD (R, C & SARG) formed for monitoring of implementation of Ind AS in the Bank.

These verticals collectively drive the distribution of a comprehensive suite of Retail Banking products, including deposit and investment products, home loans, personal loans, MSME loans, and agricultural loans. As on 31^st March, 2026, the Retail Banking vertical accounted for 88.27% of the Bank's total deposits amounting to ?52.75 trillion and 55.23% of the total loans and advances aggregating ?27.24 trillion. Its share in CASA deposit and Term Deposit is 95.09% and 90% respectively, underscoring its pivotal role in sustaining your Bank's growth and profitability.

With an extensive delivery network comprising 17 Circles and 79,134 Customer Service Points (CSPs) across the country, your Bank remains steadfast in its commitment to delivering superior customer experience. Guided by a strong 'Customer-First Philosophy' and attuned to the evolving customer expectations. Your Bank is actively integrating advanced digital solutions to build a future-ready retail banking ecosystem. This strategic focus has enabled it to consistently expand customer base and achieve sustainable growth in both deposits and advances.

Empowering Lives with All-in-One Financial Solutions

Your Bank continues to play a transformative role in the lives of millions of customers by offering comprehensive and inclusive financial solutions:

•    The Bank remains the largest Home Loan provider in the country and the largest dispenser of Education Loans, thereby fulfilling home ownership dream and supporting higher education aspirations.

•    Through a proactive approach to SME financing,

your Bank facilitates business expansion, technology adoption, modernisation and export financing, fostering entrepreneurship, driving    economic growth    and

generating employment opportunities.

•    Your Bank continues to strongly support the farming

community through a wide range of agricultural loan products, enabling    rural development and

inclusive growth.

•    Your Bank actively participates in government-sponsored schemes and social banking initiatives, reflecting its steadfast commitment to building a sustainable and inclusive society and contributing meaningfully to nation-building.

Your Bank remains dedicated to redefining banking through digital transformation, seamless omni-channel delivery and frictionless customer journeys. Simultaneously, a strong culture of heightened risk awareness and compliance is fostered at all levels of operations, ensuring robust governance, operational resilience and sustainable long-term growth.

Market Share

Your Bank gained 47 bps market share among All India Scheduled Commercial Banks, increasing from 27.67% in Mar 2025 to 28.14% in March 2026. The overall market share increased by 40 bps, from 20.40% in March 2025 to 20.80% in December 2025.

PSL Portfolio

Your Bank's Priority Sector Lending stands at 28.58% of the total Home Loan portfolio as on March 2026.

Asset Quality

Your Bank's proactive monitoring and follow-up resulted in a robust asset quality. Gross NPA reduced by 12 bps, from 0.72% in March 2025 to 0.60% in March 2026.

Key Initiatives

Your Bank consistently improved its home loan offerings, reinforcing its position as the 'No. 1 Choice of Customers' New initiatives and products launched during the year include:

a) Digital & technology initiatives for customer delight Customer Loan Assistance Portal

•    Launched a web-based portal, serving as a communication platform between Bank and the Customers

•    Enables customers to track their loan application status, upload home loan documents, and request for home loan disbursements

Web-based application for Home Loan

•    Empowers customers to apply for a home loan from anywhere

•    Instant in-principle offer for home loans

Digital Document Execution & eStamping

•    Facilitates easy signing of documents from the comfort of home for young and working population

Auto Delivery of Arrangement Letter and Key Fact Statement

•    Arrangement Letter and Key Fact Statement are automatically sent to customer's email

•    Automation and digital delivery footprint ensures delivery of important documents without delay

Enhanced Customer Service

•    Seamless services offered to customers through the call centre

•    Services include Interest certificate intimation via IVR, intimation for collection of title deeds, and welcome calls to newly onboarded customers

b)    Strategic Initiatives

•    Partnership with Top Developers - Your Bank is collaborating with top developers across India to increase ticket size and address the growing demand for premium apartments

•    Corporate Tie-Ups - A structured policy has been introduced to strengthen tie-ups with reputed corporates and Public Sector Units and offer home loan solutions to their employees

c)    New Product Launches and Improvements

•    Hybrid variants (a combination of Term Loan and Overdraft) have been introduced for Home Loan and Personal Loan Against Property

•    Feature enhancements have made Builder Finance Scheme and Home Loan for Repairs and Renovation more customer-centric

•    Eligible Home Loan customers are provided with an in-principle approval for Car Loan

d)    End-to-End Digitalisation

Your Bank is actively working towards end-to-end digitalisation

of Home Loans. With various initiatives being underway,

we expect the digitalisation journey to be completed in

FY 2026-27.

Retail Loans

Auto Loans

The Indian automobile industry demonstrated resilient growth during FY 2025-26. While the first half of the year remained relatively muted, reflecting a marginal year-on-year decline in sales, the sector witnessed a strong revival in the latter half, supported by GST rationalisation. The passenger vehicle segment continued to be driven by robust demand for SUVs, which accounted for over 56% of total car sales in India, as per industry estimates.

Amid this evolving landscape, the Bank reinforced its leadership position in the new car loan segment through a series of strategic and customer-centric initiatives. Our strengthened on-ground presence across key dealerships, enabled by enhanced manpower deployment, has significantly improved sourcing capabilities across major OEM channels. Strategic tie-ups with leading automobile manufacturers have facilitated instant in-principle loan sanctions at the point of vehicle booking, with the Bank commanding a dominant share in these emerging delivery channels.

The introduction of Digital Document Execution for existing-to-bank (ETB) customers has further streamlined the loan processing experience, enhancing speed, convenience, and customer satisfaction. Aligned with our commitment to sustainability, the Bank has actively promoted "Green Car Loans" for electric vehicles (EVs), offering concessional interest rate and extended repayment tenors. Dedicated financing programs and attractive schemes have been consistently deployed to accelerate the adoption of eco-friendly mobility solutions.

These focussed initiatives have translated into strong business performance. The Auto Loan portfolio recorded a robust year-on-year growth of ?10,809 crore (8.50%). During FY 2026, the Bank disbursed ?54,398 crore in Auto Loans. Further, through disciplined credit monitoring and proactive portfolio management, asset quality has remained best-in-class, with NPAs contained at an exceptionally low level of 0.43% as of 31.03.26. Driven by innovation, operational excellence, and a customer-first approach, the Bank has enabled more than 6.22 lakh customers to realise their aspiration of owning a vehicle during the year, reinforcing its position as a trusted partner in their journey.

Education Loans

Your Bank continues to be the largest Education Loan provider in India, commanding 32.94% market share among ASCBs, as of March 2026. During FY 2026, the Bank empowered 1,76,180 students with financial assistance, totalling ?19,938 crore, of which 42.77% of loans were extended to girl students.

To enhance access, quality and customer satisfaction, your Bank has undertaken several initiatives, as below:

•    PM-Vidyalaxmi Scheme: Enables collateral-free, guarantee-free loans for students admitted to 967 identified Quality Higher Education Institutions (QHEI).

•    Scholar Loan Scheme: Extended to a broader set of top-rated 61 institutions with relaxed norms and concessional interest rates.

• Global Ed-vantage Scheme: Provides customised loans to support students pursuing education at foreign universities with relaxed terms. Your Bank offers collateral free loans of up to ?50 lakh to students seeking admission in top 100 global institutions at competitive interest rates

• Digital Document Execution: This was rolled out for unsecured Education Loans to improve borrower convenience and enable ease of credit flow to students

•    In September 2025, your Bank also launched lifetime relationship calling through the contact centre. Customer receive calls at half yearly intervals during the study period and quarterly intervals during the repayment period to update them on various product/process related information

Through these focussed efforts, your Bank continues to support the aspirations of India's youth and reinforce its leadership in Education Loans.

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Personal Loans (eXC)

Your Bank caters to the needs of the salaried class (Government, Defence and Private), and non-salaried customers through this product. SBI Personal Loans (erst. Xpress Credit) has reached ^3,76,003 crore as on 31.03.2026. During this financial year, your Bank provided these loans to 28 lakh customers amounting to ^2,58,000 crore.

Your Bank recently increased the maximum quantum of these loans to ?50 lakh. We are also extending these loans to 'Agniveers' wherein the loan amount of up to ?5 lakh is made available to eligible customers for a maximum period of 3.5 years. Your Bank has implemented Digital Document Execution for SBI Personal Loans (erst. Xpress Credit) which

leads to real-time execution of loan documents through e-stamping and e-signature. So far, this facility has been extended in 21 states and 5 Union Terrotories (UTs), and as on 31.03.2026, a total of 16,05,051 Personal Loan documents have been executed through this mode.

5    Pension Loans

Your Bank serves the needs of pensioners under the Pension Loan scheme. The Bank's Pension Loan portfolio has grown to ?64,025 crore as on 31.03.2026. During this financial year, the Bank sanctioned Pension Loans of ?27,547 crore to 6.74+ lakh customers.

To make the product more attractive and to enhance customer satisfaction, your Bank has undertaken the below steps:

•    Increased maximum loan amount up to ?20 lakh

•    Pre-Approved Pension Loan (PAPNL) can be availed digitally through YONO, INB and Contact Centre in 4 clicks only

Personal Gold Loan

Your Bank's Gold Loan portfolio recorded a strong year-to-date growth of 111.51%, reaching ^1,05,781 crore as of 31.03.2026. With this, it has empowered 35.46 lakh customers and helped them unlock the value of their idle gold for personal and financial needs. Additionally, overdraft Gold Loan product was launched for borrowers to cater their short-term credit needs.

With flexible loan tenures ranging from 3 to 36 months, the Bank continues to meet the customers' varied requirements. Proactive monitoring and follow-up helped contain NPAs in Personal Gold Loans to ?93.86 crore, representing just 0.09% of the Gold Loan portfolio.

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SBI Surya Ghar: Solar Rooftop Scheme

Your Bank is a leading lender under the PM Surya Ghar Muft Bijli Yojana, and commands a 73.84% market share in financing solar rooftop installations for individual households. As on 31.03.2026, the Bank's Portfolio under this scheme stood at ?11,301 crore.

To enhance accessibility and customer convenience, your Bank has undertaken the below steps:

•    Implemented Digital Document Execution (DDE) in 19 states/UTs

•    To enhance customer convenience and eliminate redundant processes, the requirement of resubmission of KYC documents has been waived off for existing, KYC-compliant accounts

•    Introduced ground-mounted elevated installations to meet technical specifications, if the customer possesses the rights to the ground/land where the installation is proposed

•    Physical electricity bills have been waived off

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Digital Loan Offerings

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While offering multiple products to grow its portfolio and increase profitability, your Bank continues to serve customers' convenience by offering digital variants through YONO, INB and the Contact Centre. Some of the services offered are as below:

i)    Real-Time Personal Loans

ii)    PAPL (Pre-Approved Personal Loan) non-CSP

iii)    PAPL (Pre-Approved Personal Loans)

iv)    PAPNL (Pre-Approved Pension Loan)

v)    e2e digital journey for offering Loan against MF Units through YONO and INB platforms, enabling the Bank to offer loan against units of more than 16+ AMCs, besides SBI Mutual Fund.

Customers can avail these offerings digitally on a real-time basis without any physical documentation or branch visit.

•    In FY 2026, your Bank sanctioned 2,51,661 Digital Loans amounting to ?8,889 crore

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Precious Metals

(i)    Gold Monetisation Scheme (GMS):

Following the discontinuation of Medium-Term and Long-Term Government Deposit (MLTGD) by RBI from 26^th March, 2025, your Bank now accepts Gold Deposits under Short Term Bank Deposit (STBD) only. In FY 2026, your Bank mobilised 2,121 kgs Gold under the STBD scheme.

(ii)    Metal Gold Loan (MGL):

Your Bank offers Metal Gold Loans to jewellers engaged in manufacturing gold ornaments for domestic and export markets. In FY 2026, your Bank granted Metal Gold Loans amounting to 9,165 kgs.

(iii)    Sale of Gold (SOG)

Your Bank also offers Sale of Gold (Wholesale) Scheme to jewellers and Bullion Dealers. In FY 2026, your Bank sold 1,174 kgs gold under the scheme.

Awards & Recognition

•    SBI was recognised as the "World's Best Consumer Bank - 2025" by Global Finance Magazine, New York, in Oct'25.

•    Retail Loans Business Unit crossed the milestone of ?7 trillion in Advances in Aug'25. BU also achieved the milestone of:

•    ?3.76 trillion in Personal Loans (eXC) portfolio, as on March'26

•    ^1,05,781 crore P-Gold portfolio as on March'26

•    +^50,000 crore Education Loans portfolio as on March'26

•    As on Mar'26, all Circles recorded a growth in SB Total, with your Bank achieving 107% of its budget

•    SB Total grew by 10.61% YTD, achieving its highest growth in the last four years. SB Per recorded 11.66% growth during the year

•    TD (Retail) registered a growth of 15.32% YTD and Bulk Card grew by 22%

•    1.62 crore new SB accounts were opened against a budget of ?1.50 crore, marking 108% achievement. 66.20% of these accounts were opened through digital channels, of which 90% (of the eligible accounts) were opened through YONO

Initiatives to Enhance Customer Convenience

•    The limit for deceased claim settlement of deposit accounts has been substantially increased from ?5 lakh to ?15 lakh, supported by simplified documentation

•    The facility to activate inoperative accounts is now available at non-home branches

•    Nomination registration facility has been made available via digital platforms

•    The CRM facilitates a convenient, end-to-end digitised process for claim settlement for deceased account holders across Deposits & Safe Deposit Lockers

•    RINB/YONO has been upgraded to enable real-time enquiries about vacant lockers and facilitate nomination for lockers

•    Social media, Print media, and SMS campaigns are being utilised to advance nomination and activation of inoperative accounts and Doorstep Banking Services. Radio jingles played in regional languages at eight major radio stations during the months of April'25 and May'25 were also leveraged for this purpose

•    Acronyms such as ABCD - All Branches to Contribute for Deposits, were deployed to motivate employees and support business growth

•    WhatsApp Banking will be used to remind customers having an average balance of >^10,000 and less than 5 remaining cheque leaves to apply for a cheque book. The development was rolled out on 16^th March, 2026

•    The Time Deposits Receipt now features adequate space for adding four nominees, as per the new nomination rules

•    A dashboard has been created for non-funded savings bank accounts and activation of inoperative accounts having a balance of more than ?10,000

•    A new DIR matrix table has been created in CBS for centralised management of DIR feeding rates. This move eliminates discrepancies arising from manual rate feeding by branches and ensures consistent rates to customers, as per RBI observations

The robust growth was supported by a focussed strategy

for sourcing new accounts across defence, central and state

government departments and corporates.

•    Launched account opening for Salary Package and Savings Bank account through TAB.

•    Comprehensive Pension Packages were introduced for central government, state government, and PSU retirees, offering benefits like personal accidental death cover, OTT subscription, movie tickets etc.

•    Special focus placed on GCC Corporates; High Value CSP Customers to be tapped through launch of three variants - Diamond, Platinum & Rhodium.

•    Base Health Insurance and Super Top-Up Health insurance products (Sapphire) were exclusively launched by SBI General for all salary package customers at discounted rates.

•    SBI E.V.A, Special Salary Package featuring curated women-centric benefits, has been launched for women working in private sectors and corporates

•    3,012 new corporate tie-ups and 180 MoUs were established in FY 2025-26 to drive Salary Package growth

•    460 dedicated microsites were created for corporates and departments to enhance awareness, engagement and ease of access for their employees

•    3,246 insurance claims totalling ^1,807.69 crore were settled during the year

Additionally, remittance is being facilitated through collaboration with 45 Exchange Houses and 5 banks in the Middle East. Moreover, the Global NRI Centres at Ernakulam and Patiala act as a one-stop solution for NRI customers, providing NRI services pertaining to non-financial transactions.

The Indian diaspora spread across the globe has always reposed immense trust in your Bank, reflected through our NRI deposit base which stands at USD 34.55 billion (as of March 2026) and FCNR(B) deposit portfolio which crossed USD 9.91 billion in the same period. Your Bank's NRI deposit market share stands at 21.01% as of January 2026.

The below-mentioned NRI-centric services have been launched by your Bank in FY 2025-26:

•    Customer-initiated web-based digital journey for NRI account opening

•    Foreign outward remittances through YONO app up to USD 40,000

•    Onboarding of new NRI customers: Mashreq Bank (UAE) NRI account opening through NEO app

Wealth Management and Premier Banking

SBI is the first Public Sector Bank to offer dedicated wealth management services catering to affluent customers through a wide range of investment products such as mutual funds, insurance, bonds, PMS, AIFs and SIFs, aligned with their individual risk profiles.

Elevated Customer Experience: Powered by Virtual Relationship Module

Your Bank is operationalising Virtual Relationship Module (VRM) across 17 circles to enhance service delivery and strengthen affluent client relationships under Premier Banking.

Anytime Channels

The Anytime Channels Department of your Bank continues to expand its reach and enhance its service offerings, providing seamless, efficient and customer-centric banking services across the country. Firmly focussed on innovation, tech-driven solutions and strategic expansion, your Bank is reinforcing its leadership position in the self-service banking ecosystem.

ATMs and ADWMs Network Extensive Reach

The Largest ATM Networks operators in India, comprising 64,245 ATMs, including 13,954 Automated Deposit cum Withdrawal Machines (ADWMs), as on 31^st March, 2026.

A strong presence across the country ensures seamless financial accessibility, even in remote & geographically challenging locations such as:

•    ATM at Khardung La Pass, at an altitude of ~18,379 feet - World's Highest ATM

•    ATM at Y-junction, Tawang, Arunachal Pradesh - World's Third Highest and India's Second Highest ATM at an altitude of ~14,700 feet (inaugurated by Hon'ble Finance Minister on 14^th November, 2025) ¹

Infrastructure Modernisation and Future Expansion:

As a part of the ongoing modernisation initiative your Bank:

•    Replaced 38,247 old machines with new generation, energy-efficient models during the financial year

•    Will deploy 60 Small Value Dispensing Machines (SVDMs) across the country, capable of dispensing lower denomination notes (?10, ?20, ?50) and coins (?1,?2,?5,?10,?20) using UPI (QR code) authentication

SWAYAM Barcode-based Passbook Printing Kiosks

•    Your Bank has deployed 22,791 Barcode- based Passbook Printing kiosks (SWAYAMs) across 19,561 branches, including 1,000 units with Auto-Flip' functionality

•    Self-service mechanism enables customers to independently print their passbooks. Auto-flip functionality enhances ease of use

•    3+ crore transactions processed per month, significantly reducing manual workload within branches

•    96% migration of passbook printing transactions from branch to kiosks, advancing efficiency and sustainability

•    YONO app encourages e-statements and m-passbook, reducing dependency on physical passbooks

Green Remit Card (GRC)

Your Bank's Green Remit Card (GRC) offers a hassle-free cash deposit facility, enabling customers to credit funds to a pre-mapped SBI account through GCCs and Automated Deposit and Withdrawal Machines (ADWMs). Round-the-clock cash deposit facility at ADWMs enhances customer convenience, particularly for migrant workers. Customers can deposit up to ?25,000 per transaction with a monthly cap of ^1,00,000.

Cheque Deposit Kiosk (CDK)

•    2,490 Cheque Deposit Kiosks (CDKs) deployed across 2,466 branches offering a secure and hassle-free, self-service cheque deposit facility to customers

•    ~13 lakh CTS enabled are collectively processed by these CDK's every month

•    Printed receipt with transaction details enhances transparency and security

Customer Value Enhancement

Your Bank offers a variety of products, including Life Insurance, Non-life Insurance, Mutual Funds, Credit Cards, Demat Services and NPS, in partnership with our joint ventures. These diverse products, together with the core banking solutions, position your Bank as a one-stop solution for all financial needs. Your Bank generated an income of ?5,199 crore through these products as on 31.03.2026.

Strategic Partnerships and Performance Highlights

Your Bank offers a wide range of life insurance products tailored to meet diverse customer needs, in partnership with SBI Life.

The outcomes reflect strong customer retention and continued emphasis on ethical and need-based selling practices. Moreover, the YONO App now features a diverse range of life insurance products, enhancing customer's digital journey and experience through seamless access to insurance policies.

Mutual funds serve as a convenient and efficient tool for portfolio diversification. Recognising this, your Bank offers its customers easy access to mutual funds through strategic collaboration with SBI Mutual Fund and other AMCs.

Key Achievements

~?2.43 lakh crore

Assets Under Management (AUM) managed by SBI, retains leadership position in mutual fund distribution

^11.69 lakh crore

Assets Under Management (AUM) managed by SBI Mutual Fund, ranks 1^st amongst AMCs

Aligned with our commitment to customer value enhancement, the YONO App features multiple investor-related services for SBI Mutual Fund investors, such as digital investment and folio creation.

Your Bank provides all general insurance products, i.e. Personal Accident Insurance, Health Insurance, Property Insurance and Loan Insurance, in the capacity of a corporate distributor of SBI General Insurance.

Key Achievements

^3,344 crore

Gross Weighted Premium (GWP) collected

Most of our general insurance products are digitally available on the YONO App, YONO-Web and YONO redirection journey.

Credit cards remain a preferred mode for consumer spending, offering convenience along with reward-earning opportunities. SBI, in partnership with SBI Cards, provides credit cards to its customers.

Key Achievements

16.30 lakh

Total cards issued

Seamless issuance of credit cards is enabled through the YONO App and YONO WEB, complemented by a convenient card-linking facility on the app.

NPS (National Pension System), regulated by Pension Fund Regulatory and Development Authority (PFRDA), and managed by experienced fund managers, provides a secured retirement option, including taxation.

Key Achievements

19%    80%

NPS market share    NPS accounts opened

through digital mode

In addition to retaining our leadership position in NPS, the achievements reflect a continuous emphasis on digitalisation of the NPS registration journey, supported by YONO WEB and YONO App. Your Bank also facilitates NPS accounts for minors under the NPS Vatsalya scheme.

The growing interest of Indians in the stock market, including IPOs, have prompted a rise in Demat Account opening. Your Bank's partnership with SBICAP Securities Ltd capitalises on this momentum, providing demat services to its extensive customer base. An end-to-end Demat and trading account journey is also available on the YONO App and YONO WEB.

Key Achievements

14.65 lakh

Demat accounts sourced

Small and Medium Enterprises

Micro, Small and Medium Enterprises (MSMEs) are the backbone of the Indian economy, and your Bank is the primary driver for the growth of MSMEs in India, and the largest lender to the sector with a 21% credit growth. SBI offers specialised, fast-tracked digital lending (up to ?5 crore), customised products (for e.g., PABL, PAsBL, Udaan, and Digi Sugam), and dedicated SME branches/CPCs, thereby fostering economic, employment, and entrepreneurial growth. During the year, the Bank's SME segment delivered calibrated growth with improved portfolio quality and enhanced digital integration. The focus remained on sustainable expansion, risk-mitigated lending, and on strengthening credit delivery mechanisms through centralised processing and technology adoption.

Business Performance

Our Bank is a pioneer in SME financing. With over twenty-three lakh customers, the SME portfolio of ?6.12 trillion as on 31.03.2026, accounts for nearly 14.60% of our Bank's total domestic advances. The portfolio registered growth of 20.99% (YoY) as of March 2026 of FY 2025-26 and segmental yield of 9.16%.

•    In TReDS, our market share YTD 29%. Achieved growth of m,256 crore in FY 2025-26

•    As on 31.03.2026, we have achieved YTD growth of ?6,106 crore in Pool purchase portfolio

•    Our Asset Backed Loan (ABL) portfolio has shown YTD growth of ?4,934 crore

•    e-VFS: YoY Growth of ?4,650 crore as on 31.03.2026

1.    Digital Offerings:

Your Bank leverages advanced technologies, including AI, ML, and business analytics to augment its product offerings and ensure customer delight, in every aspect of the value proposition - business, designing products, streamlining processes, improving delivery, and monitoring. Furthermore, several initiatives have been taken to build the SME portfolio in a risk mitigated manner and to implement significant changes in the product suite, processes and delivery to ensure ease of banking. YONO Business is a one-stop digital banking solution for corporates.

Pre-Approved Business Loans (PABL) is an analytics-based product that provides instant sanctions of loans up to ?20 lakh based on the transaction history of the customer. In FY 2026, 1.11 lakh PABL loans worth ?5,513 crore were sanctioned and disbursed.

Your Bank launched the Pre-Approved Business Loan (PAsBL), a new initiative, on 01.01.2026. It is a cash flow-based lending product designed for existing CASA customers and targets Informal Micro Enterprises (IMEs) through the analysis of UPI settlement data.

In FY 2025-26, 3.55 lakh leads were generated, with a total potential value of ^11,913 crore. Out of these, 11,214 leads were converted into business, amounting to ?372.05 crore.

Digital Document Generation (DDG) and Digital Document Execution (DDE):

DDG was rolled out for Digital MSME Loans with individual signatories for sanction limits up to ?50 crore.

DDE facilitates digital contracting through e-stamping and e-signing to ensure secure, paperless transactions. Since its roll-out on 1^st January, 2026, SME documents for 5,500 proposals have been executed digitally using this functionality.

2.    Rationalisation of Interest Rates

To enhance market share and offer competitive rate of interest, the SME segment has rationalised the rate of interest on commercial advances for MSMEs and Non-MSMEs (Up to ?7.50 crore Regulatory Retail Borrowers).

2.1 Business Rule Engine (BRE):

Business Rule Engine (BRE) is a single credit risk model developed for SME loans up to ?5 crore to sanction loans faster and innovatively, and to enable straight-through processing (STP) for all types of loan applicants - New to Bank (NTB),

Existing to Bank (ETB), New to Credit (NTC), Existing to Credit (ETC), and for renewals. This has not only provided ease of business to customers, but also enabled your Bank to book good quality MSME advances with minimal TAT.

•    Since its launch in January 2024, the Bank has processed/sanctioned 3.99 lakh proposals amounting to ^1,52,942 crore

•    In FY 2025-26, 2.43 lakh proposals amounting to ?99,505 crore were sanctioned

2.2    DIGI Sugam:

Rolled out in August 2025, Digi Sugam is a seamless end-to-end digital loan product on YONO-B platform for your Bank's current account customers providing loans of up to ?50 lakh. The loan limit is assessed based on cash flow captured through the Bank's account statement and GSTIN.

2.3    Digital products under development

•    BRE's auto renewal journey for loans with three years vintage is currently under process

•    Change in applicability of digital loan journey from ?5 crore currently to ?50 crore is being undertaken in two phases

3. Supply Chain Finance (SCF)

By leveraging its state-of-the-art technology and wide branch network, your Bank continues to be a major player in SCF by strengthening its relationship with corporates. Till date, the Bank has extended SCF to 36,472 dealers with sanctioned limits of:

•    ?58,584 crore (e-DFS)

•    ?35,812 crore (e-VFS)

In FY 2025-26, around 45 new e-DFS and 160 e-VFS tie-ups were entered into.

Contactless loan processing (CLP): The Bank has implemented CLP for e-DFS and e-VFS through "psbloansin59minutes.com', providing easy access for loans to GST and IT-registered dealers.

In FY 2025-26:

•    6,403 proposals (new and renewal) valuing ?5,601 crore were sanctioned through e-DFS BRE

•    Rolled out UIN based tie-ups with 31 IMs

•    Onboarded 10 IMs in PV, CV and construction equipment, aggregating 61 dealers with an exposure of ?204 crore

4. Green Energy Initiatives

Your Bank remains committed to the green energy initiatives aimed at reducing carbon footprint by financing renewable energy and sustainable infrastructure projects.

a)    Surya Shakti Solar Finance:

In FY 2025-26, a non-captive variant was launched under Surya Shakti Solar Finance to provide financing for open access, RESCO, and group-captive projects. During the year, 1,113 loans amounting to ?6,788 crore were sanctioned under the new variant. The maximum loan amount under the scheme is ?50.00 crore, with a comfortable repayment tenure of 15 years.

The Solar Finance portfolio grew from ?6,737 crore as on 31^st March, 2025 to ?16,248 crore as on 31^st March, 2026. The Green Energy portfolio also increased from ?14,480 crore to ^28,220.82 crore during the same period.

The scheme also includes a special provision for financing captive solar power projects for captive use, with a maximum loan amount of ?10.00 crore and a comfortable repayment tenure of 10 years.

b)    Financing Biofuel Projects:

Your Bank launched a new Product for extending credit to all forms of Biofuels, as mentioned in 'National Policy of Biofuels 2018; including ethanol, biodiesel, advanced biofuels, Bio-CNG, and more.

•    The product has a long door-to-door repayment tenor up to 15 years

•    Term loans/regular working capital is provided

•    Biomass suppliers / aggregators supplying pellets / briquettes to thermal power plants for substituting coal are also financed

c)    Compressed Biogas under Satat Scheme:

Your Bank provides finance to companies setting up manufacturing facilities for compressed Biogas under Satat scheme.

•    Loans up to ?100 crore are categorised under Priority Sector Lending (PSL)

•    The scheme provides incentives to entrepreneurs including reduced customs duty on imported equipment, 40% depreciation on WDV method, tax holiday on net income for 5 years

5.    Export Credit

Export Credit for SMEs increased from ?19,609 crore in the earlier fiscal year to ?21,201 crore, despite macroeconomic challenges in international trade.

•    During FY 2025-26, 498 export credit proposals amounting to ?4,626 crore were sanctioned. Further, under the Exporters Credit Guarantee Scheme (ECGS), 488 proposals amounting to ?2,166 crore were disbursed till 31^st March, 2026

•    Your Bank has made available several customer digital journeys in YONO business, including Inland LC, Import LC, Exports, Inland, A1 & A2 remittances and advance payments

6.    Co-lending with NBFCs

Your Bank entered into co-lending agreement with 9 NBFCs to help MSMEs with no access to formal credit.

7.    Trade Receivables Discounting System (TReDS)

Your Bank is among the first PSBs to register as a financier on TReDS platform under RXIL, Ml exchange, Invoicemart, DTX and C2FO. In FY 2025-26, your Bank surpassed financing of ?33,588 crore (as on 31.03.26), exhibiting 50.40% growth YoY and a 29% market share.

8.    Financing with cluster-based approach

Your Bank developed a 'Cluster Finance Scheme' to finance units located in 120 identified clusters at competitive interest rates.

•    In 2025-26, your Bank sanctioned 4,135 loans amounting to ?8,596 crore (till Mar'26)

•    Since the inception of cluster-based approach in April 2022, the Bank made sanctions of ?39,668 crore to 11,664 SME units in the identified clusters

Rural Banking

Agriculture Advances

Your Bank's lending under Agriculture & Allied activities crossed the milestone of ?4 trillion during the financial year, the highest for any Bank in India, marking a robust growth of over ?68,000 crore (20% YoY).

Your Bank focussed on making farming sustainable by financing farm gate infrastructure, agri enterprises and progressive farmers through multi-product offerings such as Agri Infra Fund, Agri & Food Enterprise Loan (AFEL), Kisan Samriddhi Rin (KSR), e-NWR financing, Agri Gold loan, SHG loan, KCC loan, and more. Customised credit was also offered to FPOs/PACS/Rural Co-operatives, reducing operating expenses and enhancing value.

^18,000 crore

Portfolio Built across AFEL & KSR

^8,400 crore

Loan sanctioned to 31,000 borrowers under Atmanirbhar Bharat schemes (Agri Infra Fund,

AHIDF & PM-FME)

Furthermore, your Bank achieved 1^st position amongst all banks in the 'Infra Modernisation for Prosperity Through Agri-value Chain Transformation (IMPACT) Campaign' for Agri Infra Fund, launched by the Ministry of Agriculture and Farmers welfare during the financial year.

Initiatives Launched

•    'Agri Cluster Finance initiative' across 117 clusters to expand value-chain reach

•    '101 district initiative' to engage high-potential investment credit customers across India

Strategic measures to control agri portfolio stress resulted in single-digit Gross NPA (%) during the financial year. The agri NPA portfolio mainly comprises small-value farmer loan accounts impacted by economic slowdown, drought, natural calamities etc. 'Rinn Samadhan, a special OTS scheme launched by your Bank, helps these farmers/legal heirs of deceased farmers to settle their dues and avail refinance after a cooling period of one month, enabling them to become debt-free and start afresh.

Micro Credit

Your Bank is the market leader in Self-help Group (SHG) loans, with a portfolio exceeding ?64,000 crore, covering more than 1.25 crore women members. Over ?44,000 crore was disbursed to 8 lakh SHGs during the financial year under SHG financing, including Deendayal Antyoday Yojana - National Rural Livelihood Mission (DAY -NRLM).

Further, easy loans up to ?10 lakh are being extended to individual women members of SHGs for select livelihood activities under the 'Svyayam Siddha Initiative, under an MoU with the MoRD. PMSVANidhi Credit Cards, which are RuPay credit cards with a credit limit of up to ?10,000, are also being issued by your Bank.

FY 2025-26 Micro Loan Sanctions & Disbursals

^815 crore

Loan Sanctioned under Svyayam Siddha Initiative

^48,900+ crore

Disbursed in Mudra Loans during the financial year

1,04,000

Loan Sanctioned

^833 crore

Total Amount under PM Vishwakarma Scheme

^1,200 crore

Disbursed under PMSVANidhi Scheme (?5,200+ crore since inception)

MoUs under co-lending model have been signed with 25 NBFCs/ HFCs to expand reach to the unserved and underserved population, enabling loan sanction of ?8,000 crore to over 6.50 lakh borrowers, with more than 6 lakh accounts fully digitised for loans of up to ?3 lakh.

Digitalisation

A revamped Loan Management System was implemented for Agriculture & Allied activities, significantly reducing Turn Around Time (TAT) for credit delivery. Additional digitisation efforts include:

•    End-to-end digital journey for KCC loans up to ?2 lakh in Karnataka, Maharashtra and Madhya Pradesh through Jan Samarth portal; now being expanded to Gujarat

•    KCC loan documentation fully digitised across 10 states (where stamp duty is waived) for loans up to ?2 lakh

•    Launched Aadhaar-based e-documentation process for borrowers under PMMY, PMSVANidhi and PM Vishwakarma schemes

Rural Self Employment Training Institutes (RSETIs)

164 RSETIs across 29 States/UTs set-up by your Bank serve as social change agents, empowering rural youth to establish their own micro-enterprises and enjoy sustainable livelihood through skill development and training.

More than 14.58 lakh

Candidates trained through 53,000 programmes

75%

Candidates self-employed

More than 6 lakh

Trained candidates received credit facilities

Lead Bank Scheme

The Lead Bank Scheme (LBS) initiative enhances bank finance access for priority sectors and underserved segments, driving inclusive growth and development.

Your Bank has been assigned with the responsibilities of Lead District Manager in 276 out of 776 districts and SLBC convenorship in 14 out of 36 States/UTs across India. The government has initiated multiple programmes involving all sections of the society, where LDMs/SLBC officials are actively involved.

Financial Literacy Centres (FLCs) & Centres for Financial Literacy (CFLs)

SBI's 357 FLCs across India impart free financial literacy, credit counselling and propagation of electronic payment systems to promote financial awareness amongst rural masses. Additionally, 595 CFL sponsored by your Bank across 1,780 blocks are promoting innovative and participatory approaches towards financial literacy.

Enabling Financial Inclusion (FY 2025-26)

27,400+

FLC camps conducted, engaged

11.90 lakh people

2,18,500

CFL camps organised, 73 lakh participants

Customer Outreach Programmes

I.    Agri Loans Awareness Week

A week-long nationwide 'Agri Loans Awareness Week' was conducted by your Bank in June 2025 across all circles through Agri Commercial Branches (ACBs) and Rural & Semi-Urban branches/RBOs networks.

Programme Objectives:

•    Promoting credit awareness in rural and semi-urban areas

•    Sensitising borrowers on the importance of timely limit renewal and repayment of dues

•    Fostering financial discipline amongst farming community

•    Strengthening your Bank's engagement and outreach across rural India

II.    Annadata Utsav

'Annadata Utsav; a 15-day farmer-centric nationwide outreach programme, was organised in December 2025 across nearly 15,000 rural & semi-urban branches, honouring India's farming community and reaffirming Bank's continued commitment to strengthening the Agri ecosystem.

Financial Inclusion

Your Bank remains committed to advancing financial inclusion by extending services to the grassroots level through its extensive network of Business Correspondent (BC) partners and 79,134 Customer Service Points (CSPs). This network delivers widespread access to affordable financial products and services, including transactions, payments, savings, credit, insurance, and pensions, even in the remotest regions of the country.

The Bank's BC channel empowers individuals across diverse socio-economic backgrounds, by offering a comprehensive bouquet of financial services, thereby strengthening financial inclusion. The Channel has facilitated the opening of over 156 million Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts, mobilising deposits exceeding ' 784 billion. It has also enabled the processing of ~ 2.9 million financial transactions and ~ 1.0 million non-financial transactions daily, significantly supporting local economic activities across the country, particularly in rural and semi-urban areas.

Operating as 'mini branches; with ATM facility, this channel offers a diverse range of 44 products and services, with continual expansion to meet evolving customer needs. Services include PMJDY account opening, Re-KYC, cash transactions, fund transfers, passbook updates, etc., including doorstep banking, that enable convenience with flexible timings even beyond routine banking hours.

With a strong presence in the country that ensures a robust financial inclusion ecosystem, your Bank, amongst all public sector banks, holds a major market share of 46% and 39% in Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) schemes respectively; a 32% share under the Atal Pension Yojana (APY) scheme and 35% under the Pradhan Mantri Jan Dhan Yojana (PMJDY) scheme among PSBs.

Your Bank's financial inclusion initiatives have received widespread recognition from stakeholders including industry organisations and media houses. Some notable awards received during FY 2025-26, include:

•    Award of Excellence - Achiever in Atal Pension Yojana by PFRDA

•    Best Financial Inclusion Award under 'Public and Private Banks - Large Bank' category in IBA 21st Annual Banking Technology Conference

•    Your Bank has also achieved remarkable milestone of "2 crore gross enrolments under APY"

2.9 million

Financial transactions processed daily

'784 billion

Deposit mobilisation

Your Bank provides comprehensive training to CSP operators to ensure a resilient and responsive BC network. The channel undergoes rigorous risk-focussed internal audits and Information Security Audits to ensure compliance and secure operations.

Your Bank continues to leverage technology to transform BC/CSP operations, to address the evolving requirements of various customer segments. Customer-centric innovations have been introduced to enhance convenience and ease of use. Several products and processes have been optimised to provide seamless, efficient and inclusive service experiences. The BC channel has introduced a fully digital account opening process at CSP outlets through e-Sign and Aadhaar-enabled Payment System (AePS) transactions through face authentication. These initiatives are expected to further accelerate financial inclusion while contributing to the Bank's sustainability goals by reducing its carbon print.

Government Business

Railways

SBI collaborated with the Indian Railways as an exclusive partner bank for their recently launched RailOne Super App. The app serves as a one-stop digital platform for ticketing, enquiries, freight and other services provided by the Indian Railways.

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EPFO

SBI is the sole payment banker for Employees Provident Fund Organisation (EPFO), serving over 7.50 crore subscribers. It also acts as the Sponsor Bank for processing pension payments for all EPFO pensioners, numbering 78 lakh.

CBDT

Your Bank continues to be the sole refund banker for income tax refunds issued by CBDT. During the year, 4.11 crore refunds amounting to ^4,71,530 crore were processed by SBI.

CBIC

SBI is the only bank facilitating the collection of customs duty through PoS terminals under the 'Atithi 2.0' initiative of the Government of India, aimed at ease for passengers. The facility is available at all 37 international airports across India.

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DBT

As a proud and responsible partner of the Government in implementing welfare schemes for uplifting the poor, your Bank facilitates the processing of Direct Benefit Transfer disbursements to beneficiaries of several such schemes. We continue to be the largest sponsor bank for MGNREGA and Kisan Samman Nidhi Yojana schemes. During the year, 189 crore transactions aggregating to ^1,73,619 crore were processed for distribution to beneficiaries.

SBI is also the designated bank for distribution of LPG subsidy under the PAHAL scheme. During the year (up to March 2026), 139 crore transactions were processed and an amount of ?21,193 crore was transferred to the accounts of LPG subsidy beneficiaries.

Pension Payments

SBI continues to serve the largest number of pensioners across the Central Government, State Governments, and Autonomous Bodies. Your Bank serves over 40 lakh pensioners, of which 2.12 lakh pension accounts were added during the year (up to 31.03.2026).

We continue to remain at the forefront of digital awareness campaigns with the objective to promote and facilitate digital submission of annual Life certificate. About 50 percent pensioners opted for digital submission of life certificates during the financial year.

Transaction Banking

Current Accounts

Current Account (CA) deposits, a source of low-cost funds, is central to healthy Net Interest Margins and overall profitability. Your Bank offers a comprehensive suite of CA products and services tailored to the needs of diverse business segments, supported by an ever-increasing focus on digital and transaction banking solutions. Streamlined customer onboarding, aligned with industry best practices, ensures a seamless and enhanced experience.

Business Snapshot (FY 2025-26)    CMP NextGen

^3.81 trillion    2,261

CA Balance    Corporates onboarded

28,000 customers    1.39 crore

Onboarded via VCIP    Transactions processed with ?2.89 lakh crore

aggregate turnover

600+

Tech-enabled RM-TxBs deployed across top 70 business centres

Key Initiatives & Milestones

1.    CA balance reached ?3.81 trillion in March 2026. Consistent growth reinforced our market leadership, regained in September 2024 and sustained over the past six consecutive quarters, reflecting the impact of our wide geographical reach and the stability of our liability franchise

2.    Introduced TAB Banking for opening current accounts for all types of business entities, offering convenience and ensuring efficiency by eliminating duplication of work during employee-assisted CA opening at the customer's premises

3.    The Video-based Customer Identification Process (VCIP) introduced last year has now stabilised, with over 28,000 customers onboarded in FY 2025-26

4.    Palladium CA was introduced to bridge the gap between Rhodium and Platinum variants, in alignment with the evolving needs:

a.    Monthly Average Balance (MAB) required: ?25 lakh

b.    Permits free cash deposits up to 15x MAB (max ?8 crore/month)

c.    Includes various other benefits

Additionally, Realtors Designated Master Bank Account ZERO was launched, supporting 100% collection under revenue-sharing models involving multiple promoters

5.    Free cash deposit limit for all premium CA variants has been decoupled from the earlier fixed cap and is now dynamically linked to the MAB of previous months, providing greater flexibility and alignment with customer business volumes

6.    Revamped YONO Business pre-login platform now serves as a unified gateway for CA, Trade Finance, Forex, Loans, CMP, SCF, APIs, and Connected Banking, enabling informed self-selection of services/products by customers and smoother digital engagement

7.    Cardless cash withdrawal via YONO Cash and digital nomination services for sole proprietors have augmented customer convenience.

8.    Scaled up connected banking ecosystem through FinTech and business software integrations, onboarded Tally and Zoho - country's largest business software platforms serving 25 lakh+ enterprises to deliver SaaS-led offerings, enabling seamless account integration and improved operational efficiency for MSMEs

9.    Targeted digital outreach, including SMS and email campaigns for activation of inoperative, zero-balance, and unfunded CAS; supports acquisition, funding, and retention efforts and reinforces leadership in transaction banking

10.    Relationship-led acquisition and engagement model continued to drive growth through:

a.    A strong physical-digital network: 43 Transaction Banking Hubs and 57 Liability Hubs across top 70 business centres

b.    600+ tech-enabled RM-TxBs deployed in these hubs and semi-urban centres enable deep market penetration and delivery of integrated, solution-driven Current Account and business banking offerings

Cash Management Products (CMP)

A comprehensive, technology-driven suite of Cash Management products and solutions cater to Corporates, Institutions, Government Ministries/Departments, Autonomous Bodies, and NBFCs. These platforms enable efficient processing of bulk transactions, supported by customised MIS, automated reconciliation, and enhanced cash-flow visibility, empowering customers with stronger control over fund management.

The CMP ecosystem was revamped in the current year through CMP NextGen, an off-the-shelf, future-ready platform, delivering agile and scalable solutions, aligned with the evolving corporate requirements. This significantly reduced the onboarding and integration turnaround time, supporting faster customer acquisition.

CMP NextGen Performance

(as on 31^st March, 2026)

2,261

Corporate clients onboarded

1.39 crore

Transactions processed

^2.89 lakh crore

Aggregate turnover

Key functional enhancements:

•    Beneficiary account name lookup for NEFT/RTGS/IMPS/ DCR transactions, improving transfer accuracy and reducing erroneous credits and fraud risks

•    24x7 Virtual Account Number (VAN) transactions via YONO Web platform

•    CMP account statements now feature transaction time stamping, creating additional value to stockbrokers and mutual fund customers

Corporate Banking

Corporate Accounts Group

The Corporate Accounts Group (CAG) is a dedicated vertical

of your Bank, managing high-value corporate relationships as

a specialised and efficient delivery platform.

5 branches

in Mumbai, New Delhi, and Chennai

Branch Network & Management

•    2 branches in Mumbai and 1 each in New Delhi and Chennai are headed by General Managers, servicing top-rated corporates, including their foreign associates and subsidiaries

•    CAG Mumbai branch comprises a Foreign Institutional Investment Cell; supports FDIs, FPIs, AIFs, Custodians, etc.

Business Model

•    Based on relationship management concept with each corporate/business group mapped to a global relationship manager

•    Further supported by a cross-functional client service team comprising credit and operations experts

•    Focus on delivering integrated and comprehensive solutions to clients, including tailor made and structured products; targeted to make SBI the preferred partner for top corporates

Financial Institutions Branch

Financial Institutions Branch (FIB), Mumbai (5^th branch) under Financial Institutions Group (FIG) is headed by a Deputy General Manager. FIG is critical in providing financial solutions to institutional clients.

Key Services

•    Intraday facility for stockbrokers, mutual funds and insurance companies

•    Bank Guarantees & e-FDR for margin with exchanges/ clearing houses

•    Serves as 'Banker to Issue' for SEBI, provides 'Sponsor Bank' services, and, as the Nodal branch, manages all IPOs, debt and Rights Issues

•    Handles QIPs for corporates and maintains settlement accounts for multiple exchanges

Corporate Solutions Group

Corporate Solutions Group (CSG), a specialised unit within the CAG vertical, caters to customers' requirements beyond the traditional credit needs.

•    Engages with top rated corporates to understand their business model and provide banking products/solutions tailored to their ecosystem

International Operations

The International Operations of your Bank are guided by the overarching principle of supporting global Indian corporates and Indian diaspora spread across geographies. In addition, your Bank has successfully shifted its focus towards increasing its share of local business by targeting the local populace and local corporates, in line with its vision to become a truly International Bank. The Overseas operations of your Bank are managed by a separate business unit - International Banking Group (IBG), headed by Deputy Managing Director (IBG), and overseen by the Managing Director (IB, GM & T).

IBG has continuously adapted to the multitude of heterogeneous challenges, including ongoing geo-political turbulence/ conflicts, bank failures in the west, economic downturn in neighbouring countries etc., and sustained its healthy growth trajectory, while balancing the risk-return dynamics. Focus on efficient asset liability management, building cost efficiencies in liability management and overheads, exploring new income streams, enhancing digitisation and leveraging relationships for new businesses has enabled IBG to maintain profitability despite headwinds. It has been a constant endeavour of IBG to contribute to your Bank's business and its global aspirations, in line with its vision, documented as under:

The specialised departments of IBG continued to play a vital role in sustaining the momentum by contributing on various fronts:

1) Credit Contribution: Business Driver

Your Bank proactively supports Indian corporates in their global growth strategy and arranges debt in foreign currency by way of:

a)    ECBs, through syndicated deals in conjunction with other Indian and foreign banks; and,

b)    Bilateral lending to overseas corporates in local markets by partnering with local and global banks.

IBG Local Credit Strategy:

•    USD 11.28 billion foreign currency loans was disbursed by your Bank to overseas entities during FY 2025-26

•    Capitalising on high-yield opportunities in emerging markets like Africa, Commonwealth of Independent States (CIS), and Latin America through improved capital planning, increased provisioning, and stricter regulatory compliance, enhancing resilience against geopolitical shocks

•    Engaging with multilateral institutions like IFC, AFC, ADB, ECA backed etc. for taking exposure in good quality assets in developing economies which are under-explored due to their prevailing local economic conditions

•    Focussing on bilateral deals, supply chain deals and originating syndication loans with better margin/fee

•    Improving synergies between domestic offices viz. CAG/ CCG/SMEBU and IBG and leveraging relationships with domestic corporates to finance their overseas operations

•    Enhancing engagement with local banks, global banks and Indian corporates with overseas presence

•    Improving visibility in local/retail lending markets through networking events and enhanced engagement with local banks

•    Prioritising regions with strong sustainability policies to align with global investor demand for green finance and ethical investments

•    Increased emphasis on Green Loans, Social Loans and Sustainability Linked Loans

•    Strengthening presence in newer geographies with strong global economic performance and demonstrating untapped potential

2) ECBs & Syndications Department, IBG

•    Your Bank has disbursed USD 6.55 billion Foreign Currency loans to Indian corporates & overseas subsidiaries of Indian corporates

•    The department plays a pivotal role in facilitating foreign currency borrowings for corporate clients, in compliance with regulatory guidelines

•    Your Bank is an active partner of Indian corporates in their global growth strategy and arranges debt in foreign currency to meet their funding requirements for capex, expansion, and on-lending (NBFCs) needs by way of ECBs through bilateral arrangements and syndicated deals in conjunction with other Indian and foreign banks

•    With a customer-centric approach and a commitment to regulatory compliance, the department continues to monitor the market and focus on sectors witnessing demand for ECBs, contributing to economic growth and strengthening your Bank's position in the international financial ecosystem

3)    Trade Finance

Your Bank is supporting Indian importers and exporters by offering them a bouquet of Trade Finance products and services through an extensive, well-equipped branch network that operates in all the time zones, in India and abroad.

The Global Trade Department (GTD) of IBG supports our Foreign Offices (FOs) for an orderly growth of Trade Finance portfolio, formulates policies, and innovates new products for FOs, as per market demands and changing regulatory norms.

Additionally, GTD facilitates Trade Credits to Indian corporates for their imports and plays a crucial role in synergising business flows between domestic and foreign offices for maximising returns. It also organises trade related workshops and conferences, in partnership with trade bodies viz., BAFT (Bankers Association for Finance and Trade), GTR (Global Trade Review) etc. Collaborations with ICC, FIEO etc. further facilitates a platform for networking with exporters, regulators and industry majors.

Awards and Recognition:

•    In a press release dated 12^th December, 2025, the New York-based Global Finance Magazine published its list of "The World's Best Trade Finance Providers 2026" and awarded your bank the title of "Best Trade Finance Bank in India"

•    Your Bank was awarded by the Asia Pacific Loan Market Association (APLMA) as "Syndicated Loan House of the Year - India" and "Corporate-backed Acquisition Finance Deal of the Year" for TML CV Holdings B.V. (a subsidiary of Tata) during FY 2025-26

4)    Overseas Treasury Management:

The Treasury Management Group at your Bank's IBG (TMG-IBG) undertakes the following functions for foreign offices:

a)    Liquidity Management

b)    Dealing Room Operations

c)    Investments

TMG-IBG manages the overall liquidity portfolio of IBG and also monitors ALM ratios. TMG is the nodal department for raising long and medium-term foreign currency funds through bond issuance (MTN/ Standalone 144A) and syndicated/ bilateral loans. Various means of borrowings are deployed by TMG to optimise cost of resources. In FY 2025-26, TMG prepaid some of the high-cost borrowings and replaced them with lower-cost funds. It also engages with multilateral /supranational entities for arranging foreign currency Lines of Credits at competitive pricing.

USD 2.5 billion+ long-term resources were raised by your Bank through different channels during the financial year. Additionally, USD 500 million was raised under MTN Program

at 5-year US Treasury +75 bps - a historical all-time low spread for any Indian company for a 5-year bond. Furthermore, over 1 billion long-term loans were raised during FY 2025-26 through global financial institutions at very attractive rates, leveraging your Bank's asset books.

TMG also manages the Investment Book of your Bank's foreign operations, which currently stands at ~USD 8.2 billion. These investments provide stable interest income for IBG and aids in the maintenance of liquidity ratios. The department also monitors and provides guidance to dealing rooms at important centres and facilitates Money Market, Forex and Derivative functions at FOs.

Currently, five major dealing rooms at London, New York, Hong Kong, Bahrain and IFSC Gift City, functioning on a hub and spoke model, facilitate other Foreign Offices in their funding operations.

5)    Global Payments & Services

The Global Payments & Services (GP&S) department, IBG, facilitates:

•    Foreign inward rupee remittances and SWIFT-based rupee remittances from overseas locations to India

•    Foreign currency cheque collection

•    Opening & maintenance of Rupee Vostro Accounts (RVA), Special Rupee Vostro Accounts (SRVA), and Asian Clearing Union (ACU) Transactions

Your Bank has collaborated with 50+ remittance partners for channelising foreign inward rupee remittances from overseas countries to India.

6)    Retail Strategy

Your Bank serves as a 'window to India' for NRIs residing in different parts of the world through its specialised retail and remittance products.

Notable achievements (FY 2025-26)

•    YONO SBI is now available to our overseas customers, successfully launched in UK, Canada, Mauritius, Nepal, Maldives, Bangladesh, Bahrain, South Africa, Sri Lanka, Chicago, New York, Germany, Singapore, and Muscat, with non face-to-face account opening facility operational in UK and Canada. More than 4.20 lakh overseas customers have been onboarded through YONO

•    'One View' feature of YONO Global allows our international customers to view their Domestic SBI Accounts, merging all enquiry features of domestic YONO SBI with our global version. About 12,050 SBI Foreign Office customers are already using this feature

•    Our overseas banking subsidiaries, SBI UK, SBI Canada and SBI California, launched customised products for Indian students and professionals desirous of moving into these locations on a long-term visa. Customer onboarding can be done while they are still in India

•    Namaste UK: The product enables Indian citizens (having long-term UK visa) to open account with SBIUK prior to their UK arrival through the YONO SBI UK app

•    New2Canada: The product enables Indian citizens to move to Canada on a temporary work permit or as a PR who can open an account with SBI Canada while they are in India itself

•    GIC account: The product enables students travelling to Canada (for education) to open a GIC account with SBI Canada Bank through the YONO Canada App

•    Global Student Checking account: The product offered by SBI California enables students in California (and desirous of migrating to USA) to pursue higher education

•    Global Start Checking account: The product offered by SBI California meets the requirement of working professionals desirous of relocating to USA for work purposes

•    Our IBU GIFT City branch offers products and services suitable for NRIs/PIOs/OCIs and resident individuals. The following products and services are currently available:

•    NRI/PIO/OCI can open savings accounts and fixed deposit accounts in 8 select currencies

•    Under the Liberalised Remittance Scheme (LRS), resident Indians can open savings accounts in 8 currencies (USD, GBP, EURO, JPY, AUD, SGD, CAD, AED) for further investments

7) Financial Institutions Group (FIG) - Correspondent Relations

FIG department, IBG, enables your Bank to establish linkages with international stakeholders viz. Financial Institutions (FIs), Foreign Govt. Agencies and Developmental Financial Institutions (DFIs), etc. It also builds and improves synergies between IBG and other business verticals of your Bank such as Corporate Accounts Group, Commercial Clients Group, Retail Banking Group and Global Markets etc.

We enjoy strong business relationships with 222 Correspondent Banks, spread across 56 countries, and also act as custodians to 4,200+ RMAs (Relationship Management Application) with 860+ Banks in 118 countries, established by both domestic and foreign offices.

FIG plays a vital role in contributing to IBGs balance sheet and managing 360-degree relationships with financial institutions across the entire spectrum of business categories such as Trade Finance, Loans and Borrowings, Fund Raising, Supply Chain Financing, Forex and Remittances.

Over the years, FIG team has emerged as a one-stop solution for banks and financial institutions. It is now playing a broader role by working cohesively with dedicated FI teams across the globe, identified SPOCs of different departments of IBG and also with SPOCs of business units of various verticals/ subsidiaries of the Bank. The strong and deep-rooted relationship established by IBG and FIG with various foreign banks and multilateral institutions across the globe can be effectively leveraged for new business opportunities under the ONE SBI approach.

8)    International Banking - Domestic

Your Bank provides a wide range of products and services to exporters and importers through its extensive domestic and international branch network.

•    In a bid to facilitate the trade community, IBD rationalises and aligns Forex Service charges with the market on a yearly basis. IT system related enhancements and updates in Exim Enterprise/SWIFT are also facilitated by IBD

•    IBD is also actively involved in reskilling IB officials, in partnership with ICC, FIEO, FICCI, CII etc., and organising trade-related workshops and seminars to provide a good networking platform with exporters/regulators/industry stalwarts. It also coordinates and liaisons with trade bodies and ICC subgroups for strengthening relations

•    IBD launched the e-BG project, an end-to-end digital journey for Bank Guarantees, across all states and union territories where NeSL is facilitating e-BG

•    An additional channel via Swift has been enabled by IBD for corporates to submit import letter of credit request to the Bank

•    IBD rolled out 'SWIFT GO, a speedy remittance facility for our retail customers. The facility ensures reduced TAT, competitive charges, and predictability for low value payment (up to USD 10,000) for outward/inward remittance. The service is available in USD and among SWIFT GO member banks in US and other geographies

9)    Technology Initiatives at Overseas Offices

'Digital First' continues to remain your Bank's strategic pillar for providing seamless services at foreign offices and subsidiaries. Your Bank sustains its focus on leveraging technology solutions with multi-pronged objectives to improve customer experience, elevate risk management, strengthen compliance, reinforce process automation and achieve cost optimisation etc.

Key highlights of initiatives undertaken at overseas offices

include: -

•    YONO Global - Your Bank's flagship digital app was made available at all our foreign offices and subsidiaries with retail presence. Its features are being continuously enhanced, in line with local/market best practices. Your Bank also engaged with Fintech-based solutions, embedded within the app, for functionalities such as customer onboarding, real-time payments etc.

•    Past year witnessed a historic shift in how payments are being processed. The alignment of SWIFT industry standards with ISO 20022 marked a paradigm shift in message exchange mechanisms. Your Bank's global presence helped it to adhere to strict and non-negotiable timelines, as decided by the financial and payment regulators worldwide. Your Bank's systems were also upgraded to support the SWIFT ISO 20022 migration. Your Bank remained fully-compliant with the aforementioned payment standards by the cut-off timeline of November 2025 across all its international operations

•    In line with our commitment to ensuring a safe and secure banking experience to the customers, the central fraud monitoring solution has been further strengthened with real-time scenario monitoring and geo-location-based monitoring. Your Bank is fully aligned with the IT Security and cybersecurity industry standards and continues to follow best practices, including but not limited to, organising continuous awareness campaigns (for customers and internal stakeholders) and updating policies and processes to reflect current business scenarios, while embedding risk management as the core of product and process lifecycle management

Global Markets Unit

Global Markets Unit (GMU) ensures streamlined functioning of

the domestic treasury operations of your Bank and seamlessly

manages funds to achieve desired risk-adjusted returns.

GMUs portfolio comprises investments in:

•    SLR (Statutory Liquidity Ratio) Securities

•    Non-SLR Securities

•    Listed Equities

•    Mutual Funds

•    Venture Capital Funds

•    Private Equity

•    Strategic Investments

•    Offers other products and services for customer's foreign exchange and risk management needs

Economic Outlook

Despite elevated trade uncertainties and ongoing geopolitical tensions, the global economy demonstrated resilience and steady expansion during the year. The US maintained strong growth, supported by robust consumer demand and aggressive AI and energy investments. US inflation, while continuing to ease, remained sticky above the Federal Reserve's target. In Europe, the economic conditions improved gradually, aided by muted cost pressures. Major central banks continued policy normalisation, though the trajectory of rate actions differed - Bank of Japan (BOJ) and Reserve Bank of Australia (RBA) raised their policy rates, while others moved further towards easing. However, since end-February 2026, the global economy has been buffeted by another shock stemming from the West Asia war. The near closure of Strait of Hormuz has led to rise in energy prices, seen as both price and quantity shock to the global economy, with countries in Asia being most impacted. Prior to the war, the policy interest rate landscape was characterised by rate cuts from the US Fed, while most other major central banks remained on hold. Since then, however, most central banks have cautioned that higher energy prices could reignite price pressures alongside slower growth.

1. RUPEE MARKETS

A.    Interest Rate Markets: SLR and Non-SLR Portfolio

The RBI Monetary Policy Committee (MPC) reduced the policy rate by 100 bps and changed its stance from neutral to accommodative in April 2025 and then back to neutral during the June 2025 MPC meeting. The inflation scenario remained benign for the first 11 months of the year, with CPI touching a low of 0.25% in October 2025. The West Asia war is likely to put upward pressure on inflation. The 10-year benchmark yield rose from 6.58% at the end of FY 2025 to close FY 2026 at 7.0350%, after touching a low of 6.24% in May 2025. Despite this, your Bank prudently managed its interest rate portfolio and generated a healthy trading income, while maintaining a stable portfolio yield and comfortable liquidity position.

B.    Equity Markets

The Indian equity markets faced significant volatility in FY 2026 with the Nifty 50 index declining over 5% during the year, its weakest fiscal year since FY 2020. While GST rate changes and fiscal stimulus helped Nifty 50 jump to a new

all-time high in January 2026, heavy FPI selling in March 2026 led to a sharp correction.

Your Bank outperformed benchmarks through dynamic portfolio management, disciplined risk management, and selective IPO participation. The focus remains on building a robust long-term portfolio and delivering alpha through tactical positions, supported by strong research and regular training.

C. Private Equity / Venture Capital Fund

In FY 2026, your Bank actively participated in the Alternative Investment space and invested in Startup focussed funds and financial market infrastructure-oriented companies via direct equity participation.

2. FOREX MARKETS

GMU handles the foreign exchange business of your Bank and provides customer-centric solutions for managing currency flows and hedging risks through options, swaps, and forwards, in addition to supporting market liquidity.

SBI is a foremost player in USD-Rupee Spot and USD-Rupee forward markets and a leading provider of liquidity on the CCIL Fx-Clear platform. Your Bank continues to actively onboard customers on CCIL's Fx-Retail platform and offer quotes through eForex, FX-All and 360T.

During the year, your Bank commenced clearing Non-Deliverable Forwards (NDF) and Interest Rate Swaps (IRS) on LCH, using TradeServ and Tradeweb, respectively.

11    44

Major Cities    Satellite Centres

Your Bank's Treasury Marketing Units are spread across the country with teams across 11 major cities and 44 satellite centres to help customers meet their unique requirements by conducting meets, conferences, etc. with exporters, trade

industry bodies and large corporate customers. A specialised desk further serves institutional non-resident customers.

3. DERIVATIVES

Your Bank deals in OTC and exchange traded interest rate and currency derivatives, enabling customers to hedge their interest rate and foreign exchange exposures. Product offerings include Rupee Interest Rate Swaps (OIS), Rupee Interest Rate Futures (IRF), Foreign Currency Interest Rate Swaps (IRS), Foreign Currency to Rupee Interest Rate Swaps (Modified MIFOR), Forward Rate Agreements (FRA), Caps, Floors, Collars, Swaptions, Cross Currency Swaps (CCS), USD / INR options, Cross Currency options and their customised solutions.

In November 2024, your Bank commenced offering Non-Deliverable Option (NDO) products to eligible corporates, further including the newly launched rupee derivative "Bond-Forward" in its product offerings during the year.

All transactions are governed by your Bank's Derivatives Policy, which outlines customer eligibility, risk limits (Greeks, cut-loss triggers, Modified Duration, PV01, etc.) and exposure norms. Counterparty risks are managed through pre-set limits, ISDA and Credit Support Agreement (CSA).

Major Initiatives:

a.    Leveraging YONO platform: The eTrade and eForex applications have been upgraded to offer a more seamless user experience, with eForex also activated for SBI Saral Users.

b.    YONO 2.0 now features a simplified International Funds Transfer facility.

c.    I ntegration of Bharat Connect Fx-Retail: Retail customers can now book forex rates for outward remittance through third-party apps.

d.    Migration to ISO 20022: SBI became the first Bank in India to successfully migrate from MT (Payment) to ISO 20022 MX messaging standards.

Commercial Clients Group (CCG)

CCG BU is a part of Corporate Banking, which is headed by the Managing Director (CB&S). It comprises two Deputy Managing Directors and is supported by six Chief General Managers (CGMs), of which four CGMs head the four Networks, one CGM oversees PF&SSBU and one CGM is responsible for Operations & Business Support. The structure also includes ten CCG Regional Offices (CCGROs) and three direct branches headed by General Managers.

CCG has 52 branches across 30 cities, spread throughout the country. The vertical caters to the credit needs of mid-sized and large corporates. It also includes specialised branches serving specific customer segments, such as Diamond Branches, SEEPZ Branch and others. The mandate of the vertical is to address the diverse needs of the mid and large corporate segment, engage with the entire corporate ecosystem, promote green finance and financing for new-age businesses, manage associated risks, and sustain growth. Network CGMs in CCG are designated as Group Relationship Owners to enhance the quality of coverage and enable an integrated view of exposure and earnings across the group. Our Bank has also established an experienced team of credit specialists to support large credit proposals.

CCG Business Levels

Export Credit Growth:

•    Extension of T-Bill Rates to Rupee Export Credit:

External benchmark (T-Bill Rate) linked interest rates have been extended to WCL and LC Bill Discounting facilities, encouraging top rated borrowers to increase limit utilisation. Considering present competition, the T-Bill Rate linked interest rates has been extended to Rupee Export Packing Credit facilities

•    Exporters Meet: Multiple exporters meets conducted across India, in coordination with IBG, have enhanced exporters' awareness about SBIs banking facilities

Trade Finance Revamp:

With the opening of two Global Trade Finance Centres

(GTFCs) in Hyderabad and Kolkata, trade finance processing

of your Bank has been redefined - enabling uniformity and

standardisation while ensuring better risk mitigation, improved

regulatory compliance and enhanced customer satisfaction.

•    Experienced workforce deployed at GTFCs optimise efficiency and build a vast knowledge pool

•    Integrated processes enable complete automation and reduce TATs for Trade Finance transactions

•    Implemented a tech-enabled business model - scalable, future-ready and well-suited to our operational ecosystem

•    Both GTFCs are ISO 9001-2015 certified

•    Awards won:

•    Best Trade Finance Services Corporate/ Institutional India

•    Best Trade Finance Services Corporate/Institutional Asia-pacific under Best Digital Bank Awards 2025 by Global Finance London

Others:

•    Data Centre was identified as the Champion Sector

under the EASE initiative and awareness seminars were organised on financing opportunities across data centres

•    Project Xceed implemented for Corporate Banking transformation. A significant improvement in loan approval TAT is being achieved through digitisation and process enhancements

•    Senior officials have been deployed at each CCG Branch to capture banking opportunities across the corporate ecosystem

•    13.08% rise in gross advance levels of CCG was recorded on YoY basis as on 31.03.2026. Major sectors contributing to the growth include Non-Banking Finance Companies, Infra, Services, Commercial Real Estate, Power, Chemical, Engineering etc.

•    ESG (Environmental, Social and Governance) initiatives across renewable energy, ethanol, electric vehicles, and city gas distribution remained a key focus

Project Finance and Structuring Strategic Business Unit

Your Bank's Project Finance and Structuring Strategic Business Unit (PF&S SBU) plays a pivotal role in the appraisal, structuring and syndication of financing for large scale projects across infrastructure and core industrial sectors, subject to defined project cost thresholds. This unit supports project across infrastructure sectors such as power, roads, ports, railways and airports, as well as non-infrastructure industries including refineries, metals, fertilisers, cement, oil & gas and glass.

Beyond project financing, the PF&S SBU supports other business verticals by vetting large value term loan proposals. The unit also contributes to the development of policy and regulatory frameworks for infrastructure financing, providing inputs to various ministries of the Central and State Governments as well as the Reserve Bank of India.

Economic Indicators

India continues to maintain its position as the world's fastest-growing large economy. According to the International Monetary Fund's (IMF) World Economic Outlook Update (January 2026), India's real GDP growth is projected at 7.3% for FY 2026 (2025-26), moderating to 6.4% in FY 2027 (2026-27), significantly higher than the projected global growth of around 3.3% in 2026. Moody's Ratings (February 2026) similarly projects 6% growth for FY 2027, the highest among G20 economies, supported by robust domestic consumption, policy initiatives, and a stable banking system (Source: Moody's Ratings report, February 2026).

Infrastructure Investment

Recognising the importance of infrastructure development in sustaining economic growth, the Government of India has allocated ?12.21 lakh crore towards public capital expenditure in FY 2027 (2026-27), an increase of about 9% over the ?11.2 lakh crore allocation in FY 2026 (2025-26).

Accelerating Infrastructure Development National Infrastructure Pipeline

^111 lakh crore

Target Investment

^214.35 lakh crore

Actual Investments to Date

Supporting Sunrise Sectors

The PF&S SBU is also contributing to the growth of new-age industries such as solar PV modules and semi-conductors, which have witnessed a surge in global demand.

On 31^st January, 2026, your Bank launched CHAKRA, the Centre of Excellence for Sunrise Sectors, reaffirming its commitment to supporting India's sustainable and technology-driven growth. CHAKRA serves as a dedicated knowledge and financing platform designed to bridge the gap between high-potential emerging technologies and bankable investment opportunities.

CHAKRA is mandated to direct capital flows into eight priority sunrise sectors critical to India's climate and economic goals. These include:

To strengthen support, your Bank has signed Memorandums of Understanding (MoUs) with 29 strategic partners, including global institutions such as the World Bank, MUFG and SMBC, besides Indian public sector banks, industry associations, think tanks and academic institutions like IITs and IISC.

Outlook

Considering the substantial financing requirements of sunrise sector projects, the PF&S SBU is leveraging the strategic expertise and resources available within the SBI Group, to provide a comprehensive suite of project financing solutions.

With a strong client base, deep industry relationships, and close engagement with policymakers and regulators, your Bank remains well positioned to expand its leadership in the project financing space and support India's infrastructure and industrial transformation.

Stressed Assets Management

The Stressed Assets Resolution Group (SARG) is a key vertical of your Bank responsible for the resolution and recovery of stressed assets. It provides several value creation opportunities for the bank such as,

•    Cash recovery from NPA and written-off accounts (AUCA)

•    Reduction in loan loss provisions

•    Improvement in profitability

•    Unlocking of lendable resources to support credit growth

Consistent recovery efforts and focussed resolution strategies have contributed to a significant decline in the banks NPA levels over the years. The movement of NPAs and recoveries from written-off accounts during the last six financial years is presented below:

Resolution Mechanisms Insolvency and Bankruptcy Code

The Insolvency and Bankruptcy Code (IBC) 2016 has provided the Bank with a transparent, effective and time-bound mechanism for resolution of stressed assets. Several high-value NPA accounts have been resolved through proceedings before the National Company Law Tribunal (NCLT). As of 31^st March, 2026, a total of 1,247 cases (Whole Bank) had been referred to the NCLT, of which 1,006 cases were admitted. Among these, a resolution plan was approved for 293 cases, while liquidation was ordered for 549 cases. These cases referred to NCLT are closely monitored by specialised teams within SARG.

Settlement and Asset Sales Outside the NCLT process, the Bank offers a One-time Compromise Settlement (OTS Scheme) to eligible borrowers to recover bad loans under its Board-approved non-discretionary and non-discriminatory framework for recovery and resolution of bad debts.

Further, a dedicated team oversees the sale and transfer of stressed assets to NARCL and Asset Reconstruction Companies (ARCs). During FY 2025-26, the Bank had assigned 355 accounts with a principal outstanding of ^5,204.95 crore to various ARCs/Permitted Transferees for a total sale consideration of ^2,071.16 crore comprising ^1,315.37 crore in cash and ?755.79 crore in security receipts. Out of these, 267 accounts with principal outstanding amounting to ?688.93 crore were assigned to ARCs/Permitted Transferees on a portfolio basis. Recovery is also pursued through SARFAESI proceedings in Debt Recovery Tribunals and courts. Sale of mortgaged properties is undertaken through the common Bank Asset Auction Network-BAANKNET-e-Auction platform to enhance transparency and maximise recovery.

basis. Each pool of accounts comprised both secured and unsecured stressed assets. During FY 2025-26, 337 accounts with a principal outstanding amount of ?688.93 crore were assigned to ARCs/Permitted Transferees for a total sale consideration of ?214.70 crore on a 100% cash basis.

For small ticket loans, resolution is facilitated through the Rinn Samadhan scheme and Lok Adalats.

Sector-Specific Resolution Strategy

SARG follows a Sector-specific approach for prioritising the resolution of stressed assets. The Group is headed by a Deputy Managing Director, supported by Chief General Managers overseeing sector-wise portfolios and retail NPAs across SARG branches.

To strengthen recovery operations, four Stress Assets Management Regional Offices (SAMROs) were established at Hyderabad, Kolkata, Mumbai and New Delhi in August 2022, to cover the entire country. The SARG network includes 14 Stressed Assets Management Branches (SAMBs) and 46 Stressed Assets Recovery Branches (SARBs), which collectively manage 37.87% of the Bank's NPAs and 82.08% of AUCA accounts.

Major stressed exposures are concentrated in sectors such as Trading, Telecom, Roads & Ports, Readymade Textiles and Commercial Real Estate, while Agriculture and Personal Loan segments account for 41.15% & 15.51% of the total GNPAs respectively.

Technology-enabled Resolution

The Bank continues to strengthen its recovery framework through technology-driven initiatives. Digital platforms such as LITMAS (Litigation Management System), facilitate monitoring of legal proceedings in stressed accounts.

An end-to-end digital solution for NPA resolution - the Stressed Asset Life Cycle Management system-SALCMS -currently under development, is expected to be launched in FY 2027, enabling improved monitoring and administrative control.

Additionally, the Wilful Defaulter Management System (WDMS) Application has also been developed for digitalisation of the wilful defaulter identification process and enhance operational efficiency.

We focussed on expanding our presence in the unbanked rural centres identified by the Department of Financial Services, Ministry of Finance, GoI. A total of 47 branches were opened in such centres during the financial year.

1. Intranet Based Digital Signage Solution (IDSS):

Audio visual content, as approved by your Bank, including mandatory disclosures, is being broadcast across our branches, comprising the following:

•    Deposit Interest rates and Forex rates

•    Bank's helpline numbers with various features

•    Centralised customer calling numbers issued by business units

•    RBI guidelines on prevention of cybercrimes

•    SBI Salary Package Scheme

•    Digital NRI account opening

•    General Service charge

•    FCNR deposits and NRE Savings A/c Interest rates

•    Do's and Don't (s) of investment scam

•    Do's and Don't (s) of digital arrest

•    SBI Reward Points with debit card

•    Non-Home Vs Home Branch Transactions

•    Seva Sarathi Initiative

The content is displayed on TV screens prominently installed within branch premises, streamed from a centralised source through the Intranet.

20,495

branches (88%)

Utilised the IDSS portal during the financial year

2.    Queue Management System (QMS):

Your Bank is in the process of implementing QMS across 10,000 branches under Enhanced Access and Service Excellence (EASE) initiative to streamline customer flow and enhance service efficiency. The implementation unlocks a multilingual interface, enabling customers to select and interact in their preferred language when booking an appointment. The token number is also announced in the chosen language.

QMS implemented in

2,715 branches (Pan India)

3.    Consolidation of LCPCs:

In a strategic decision, your Bank is consolidating its LCPC network, merging 16 LCPCs into 4. The consolidated LCPCs will process AOFs in digital form only, while the physical AOFs will be sent directly to Hybrid ODAC (Outsourced Document Archival Centre) set ups located in the respective Circles.

This optimisation will reduce operational costs and enable redeployment of surplus staff to branches and other critical functions. The process rollout is targeted for November-December 2026.

Human Resources

Your Bank recognises the pivotal role played by its employees in pursuing long-term strategic goals and achieving sustainable growth while ensuring operational excellence. With a strong commitment to strengthening its employee value proposition, the Bank's policies and strategies are continuously aligned with the evolving aspirations of its workforce - enhancing operational efficiency, promoting transparency and fostering a participative and inclusive work culture.

Strategic investments in employees further contribute to a stronger and high-performing workforce. Your Bank, in line with modern human resource practices, is gradually transitioning towards a skill-based talent management framework, mapping employee competencies to multiple parameters for sustainable career progression and employee satisfaction.

In 2023, 'Abhyuday' Employee Engagement Survey was conducted, providing valuable insights into employee sentiments and driving major initiatives such as Employee Happiness Survey, LEAP - HR Synergy Meet, Employee Contribution Score Dashboard, Team KRA (Key Responsibility Areas), Super SBI and SBI ACE to enhance employee satisfaction and drive performance.

Employee Engagement

At SBI, employee feedback is translated into meaningful and measurable actions. By actively listening to our employees and implementing data-driven engagement strategies, we are shaping a workforce that is resilient, motivated and future-ready.

Building on the success of 'Abhyuday, 'Abhyuday 2.0' was launched to further elevate employee engagement. Key enhancements included theme-based approach for deeper insights, differentiated and focussed question sets for enhanced analysis, and safe, transparent and unbiased platform to enable free employee expression. Structured interventions are being undertaken to address key focus areas while pockets of relatively lower engagement level have been identified and are being addressed through various measures.

SBI STAR Employee Excellence Awards

SBI STAR (Staff Talent Appreciation & Recognition), an annual Employee Excellence Awards, was organised in September 2025 to recognise employees' excellence outside professional spheres in areas such as Arts, Culture, Games & Sports, Literature and Social & Environmental initiatives. Over 2,100 nominations were received from employees, which were comprehensively evaluated, and the awardees were felicitated by the Chairman.

HR-Uday: Elevating HR to Boost Employee Success

HR-Uday is your Bank's HR transformation project, envisaged to realign HR strategy and establish an integrated HR framework to boost employee value proposition and shape a skilled, agile, customer-centric workforce - ready for evolving business and regulatory demands.

Employee Happiness Survey

Since FY 2023-24, the Employee Happiness Survey assesses the overall employee satisfaction by gathering insights into the effectiveness and quality of interactions between HR Team and employees, therefore boosting productivity, retention and overall organisational performance.

The survey serves as an important data-driven feedback mechanism, enabling the Bank to identify gaps, address employee concerns and continuously improve HR policies, processes and workplace culture.

Workforce Optimisation

•    An annual manpower planning exercise seamlessly assesses and meets Bank's staffing requirements

•    The Branch Manpower Model calculates manpower requirements within retail branches based on various financial and non-financial transactions, load factors, account volumes and other parameters

•    Seamless annual promotions and transfers at scale, comparable to the total headcount of large organisations, are executed in Q1 every year, ensuring stability across branches and enabling sustained focus on business activities

Succession Planning

•    A robust talent pipeline and structured succession planning support timely identification and development of talent for critical leadership positions

•    The Leadership Summit further solidified your Bank's HR & Talent Strategy, with a strong emphasis on preparing for 2030 workplace demands where AI and human capabilities integrate

Recognition and Rewards

•    Financial Rewards: Performance linked incentive (PLI) for top performers

•    Non-Financial Rewards: Additional leaves to Chairman club members/MD club members and additional LFC etc.

•    SBI GEMS: Promotes employee recognition and retains organisational memory of such recognitions

Awards and Accolades

Recognised and awarded by Economic Times Human Capital Awards 2026 in the following categories.

•    Visionary HR Leader - Large Scale Organisation: Gold

•    Excellence in Communication Strategy: Gold

•    Excellence in Team Building & Collaboration: Gold

•    Excellence in Employee Retention Strategy: Gold

Performance Management System

Career Development System (CDS), your Bank's robust Performance Management System, facilitates transparent, objective and credible data-backed performance evaluation of employees' performance, in alignment with organisational goals. The outcomes determine the promotions, incentives, postings and exposure opportunities.

•    CDS-related policies and processes are reviewed annually toalignwith industry-standards. Enhancements introduced include Performance Improvement Plan (PIP) to elevate employee performance; Team Performance KRAs to promote collaboration; and KRA Grouping Concepts to align individual KRAs with organisational objectives

•    Officers performance is reviewed bi-annually through a structured feedback mechanism which provides them with adequate insights for career progression

•    Currently, 89% of the workforce under CDS (including leadership positions) is evaluated on objective, data-driven KRAs, with ongoing efforts to further expand this coverage

Talent acquisition and Recruitment

A strategic approach to talent acquisition transcends the conventional hiring methods and leverages multiple channels such as social media, headhunters and recruitment consultants for hiring across middle management and leadership levels. Targeted video campaigns are further used to attract Gen Z candidates, ensuring broader outreach and stronger candidate engagement.

Recruiting specialised talent

Lateral recruitment helps onboard specialists across key domains such as Information Technology, Information Security, Medical, Economics, Wealth Management, Investment Services etc.

Focus on sports excellence

63 sportsperson were hired during the year, promoting Indian sports and cultivating a team of disciplined, high-performing individuals.

Recruitment

•    Hired 4,640 officers, 19,340 associates, and 1,653 contractual staff in FY 2025-26

Agile and Diverse Workforce

Gender sensitivity and inclusiveness remain core pillars of your Bank's HR philosophy, reflected through a diverse workforce comprising both young and experienced employees offering a blend of innovation and domain expertise.

•    Skilled IT Specialists ensuring security, efficiency and innovation

•    Qualified doctors for employee health, safety, wellbeing and productivity

Women Empowerment Initiatives

We strive to foster a workplace where women employees

feel empowered and motivated to unlock their potential and

assume leadership roles.

Women empowerment programs

•    Back to Work Program: Facilitates smooth transition of women employees returning to work after maternity leave/ career break back into the workforce, ensuring seamless career progression and tackling work-life challenges

•    Family Connect Program: The program fosters a supportive ecosystem for women employees by recognising the role of family in their career and ensuring continued family support through acknowledgements and inclusive events that enhance a sense of belongingness

•    Creche Allowance: Creche Allowance provides financial assistance to employees with young children for safe and reliable childcare, enabling women to balance their career and motherhood

•    Reinforcing Garima: 'Reinforcing Garima' is an initiative focussed on strengthening workplace dignity and fostering zero tolerance for discrimination or harassment, aligned with our commitment to building a safe, respectful and inclusive workplace

•    Awareness programmes on gender sensitivity, unconscious bias and respectful workplace conduct

•    "GARIMA: How Aware are You" situational case study launched on International Women's Day

Employee Well-Being, Health and Safety

Holistic Health and Wellness of Employees remains a key focus area and is achieved through the following initiatives;

Emotional Wellbeing

•    CHETNA, the Emotional Wellbeing Assessment Survey 2025, assessed employees' psychological health and identified intervention areas.

•    Counselling services across all 17 Circles for employees and their families

Physical Wellbeing

•    12 Health Camps catered to 5,000+ employees for early detection and prevention of lifestyle diseases

•    1.66+ lakh employees covered under Executive Health Checkup Scheme

•    3,000+ Influenza vaccines administered

•    CPR training for employees

Women's Health

•    Women-centric awareness/wellness programmes/ vaccination drives

•    Cervical cancer vaccination (free for staff <26 yrs and unmarried girl child)

•    Breast cancer awareness, nutrition allowance for pregnant employees

Wellness Initiatives

•    84,000+ units of blood donated; blood donation camps organised across all circles

•    Informative webinars & health talks by experts

•    Men's health camp organised on International Men's Day (515 Participants)

•    Yoga/meditation classes on special days Staff Grievance Redressal

Sanjeevani, your Bank's multimodal and integrated platform, handles all staff grievances efficiently and transparently. It also provides counselling services to employees and their families through a dedicated professional psychologist.

HRMS migration to new cloud-based application:

Functions like Salary, Pension, Reimbursements, Performance Assessment, Leave and Attendance module, Rewards and recognition, Sanjeevani, Staff Welfare etc. have been migrated to cloud.

EASE 8.0 (EASERise), Theme 4 - Excellence: Focusses on strengthening HR practices, enhancing employee productivity, and driving process standardisation through digital enablement and data-driven decision-making.

End-to-end digitisation of Staff Loan processes

implemented, leading to faster TAT and higher employee satisfaction.

Responsive portal: Majority of HRMS features are available on mobile compatible web-based portal

SMART digital portal: Captures employee preferences for transfer/posting in a digitised manner and suggests preference-based recommendations.

Digital promotions: The entire promotion process has been digitised and paperless interviews introduced at leadership level

Automation of Vacation Policy

A centralised analytics-based leave planning module, covering about 25,000 officers, has been introduced for all employees/ officers covered under Vacation Policy from FY 2025-26, boosting efficiency, accuracy and employee experience. Periodic identification of employees for mandatory leave and selection of the mandatory leave period is based on predefined parameters and executed centrally without any manual intervention.

Care & Assistance for Retired Employees

Dedicated to the health and welfare of our Pensioners and Family Pensioners, significant initiatives have been taken by your Bank to facilitate them with additional medical and financial support:

•    Pensioners' meets were organised at 500+ centres across the Bank to create awareness about improved mediclaim policies and encourage participation

•    Introduced 90% subsidy in premium for retirees aged 80+ years, also extended to Family Pensioners

•    Higher disease-wise capping limits, pre-hospitalisation period increased from 30 days to 60 days in mediclaim policy

•    Multi Year Health Cards rolled out from Policy year 2026-27, offering hassle-free healthcare for an extended duration

•    Subsidy under the e-pharmacy wallet facility enhanced across various base plans

'SBI Tribute' Scheme

SBI Tribute is aimed at providing immediate and holistic support to the families of our retired employees upon their passing.

•    Covers all the pensioners who have superannuated/ opted for VRS and receive pension from the Bank

•    ?30,000 one-time lumpsum amount provided within 72 hours of receiving intimation of death

•    Personal visit to offer condolences and handover the gratitude amount by the Bank personnel

National Anubhav Award 2025

In a notable achievement, Smt. Shalini Kacker, retired Chief General Manager, SBI was conferred the prestigious "National Anubhav Award 2025'! She is the first recipient of the award from the Banking Industry which is a recognition of her outstanding contributions to Direct Benefit Transfer, Pension reforms and Digital Life Certificate campaigns.

SBI Family Pension Revision

•    Family pension shall be paid in full without any deduction

•    Family Pension at full rate for a period of seven years or 65 years, whichever is less

•    Inclusion of widowed/divorced daughter, up to 25 years age or up to her marriage/remarriage or in gainful employment, whichever is earlier

Training and Development

Fostering and strengthening a culture of continuous learning

Amid rapid technological advancements and evolving market dynamics, the banking sector in India continues to undergo significant transformation. To remain future-ready, the Bank is committed to fostering an organisation-wide culture of continuous learning, which reflects a strategic approach to knowledge development that supports excellence across all operations of the Bank.

The training initiatives under the Bank's robust learning ecosystem comprises 6 Apex Training Institutes (ATIs), 51 State Bank Institutes of Learning & Development (SBILDs), and the SPARK LeMS platform.

Key Training Initiatives

EMPOWERING SUCCESS THROUGH LEARNING AND DEVELOPMENT

A. 'SuPer SBI 2.0: C.A.R.E. - Create Amazing Relationship, Everyday':

Your Bank launched an aspirational mass engagement training program, "SuPer SBI 2.0: C.A.R.E. - Create Amazing Relationships, Everyday'! to empower its frontline staff with the requisite knowledge, skills, and professional etiquette to deliver exceptional customer service, ensure operational efficiency, and strengthen a customer-centric approach.

As on 31.03.2026, a total of 2,01,517 employees were trained across 534 centres across all the circles by retired and in-service officials, and faculty members from SBILDs and ATIs.

B. S.P.A.R.K. (SBI Platform for Adaptive Reskilling and Knowledge):

i.    I n FY 2025-26, SPARK Learning Management System (LeMS) was implemented as your Bank's single source of learning for all its employees. The platform offers 48 internal role-based certifications, 708 e-lessons, proctored examinations, personalised learning pathways, gamified content, skill-gap assessment, and integration with learning resources from leading institutes and course aggregators.

ii.    Around 2.45 lakh learners were onboarded into the SPARK ecosystem, creating a comprehensive digital learning footprint. As on 31.03.2026, over 1.82 lakh employees completed their mandatory learning lessons and certifications through the platform.

iii.    Your Bank also procured an enterprise-wide licence for Coursera, a leading global course aggregator offering 10,000+ online courses. Courses were integrated into the SPARK platform and learning licenses were provided to all the staff members.

C.    Rashtriya Karmayogi Training Program

Your Bank launched the Rashtriya Karmayogi Jan Seva Program for clerical staff across all Circles, which is an initiative by the Government of India, to foster the spirit of "Seva Bhaav" (public service). The program trained a total of 91,152 Junior Associates across all Circles.

D.    MSME Centre of Excellence - State Bank Academy, Gurugram

The MSME Centre of Excellence (CoE), launched at the State Bank Academy, Gurugram, aims to become a national-level institute for MSME capacity building, policy innovation, and strategic banking interventions. During the year, 23 programs were conducted, training 801 participants.

Key programs under CoE:

•    Start-up Ecosystem in India: Challenges & Way Forward

•    Program on NBFC Financing

•    Sector specific Workshops and Entrepreneur Development Program

•    Achieving Operational Excellence through Post-Monitoring in MSME Lending

Training Infrastructure - Common Design for SBILDs:

The DFS and the Bank's Top Management strengthened their focus on training infrastructure. An action point from CENMAC meeting stated: "STU is to provide a blueprint/ common design for new SBILDs." Accordingly, a common design for SBILDs was prepared and shared with the Circles.

E.    Recognitions and Achievements:

During the year, your Bank received prestigious accolades at the Economic Times HR Future Skills Awards 2025 in the categories below:

•    Women L&D Leader of the Year - Gold

•    Best advance in creating an extended enterprise learning program - Gold

•    Most Innovative Talent Management Solution - Silver

•    Best Team Development Program - Bronze

•    Best Advance in Generative AI Learning Solution - Bronze

F.    Strengthening Foundations: Developing New Talent

To support new professionals in shaping their careers, induction and foundation training programs were conducted throughout the year for POs, TOs, TOs (Systems), CBOs and JAs to help them shape their careers. These sessions covered General Banking, Retail Credit, Credit (including SME and Agriculture), Investment Banking, as well as leadership, team building, emotional intelligence, and soft skills.

G. Developing Future Leaders - Middle Management Training:

Mandatory Learning up to SMGS-V:

1) Employees up to SMGS-V were required to complete internal role-based certifications and e-Lessons. The certification completion status as of 31.03.2026 is as below:

2)    Precision Training: Programs were conducted for first-time role holders to develop role-specific expertise and provide conceptual clarity on functional responsibilities. The program trained 2,653 officials as on 31.03.2026, including First-Time Branch Managers, Service Managers, Relationship Managers (SME), Credit Support Officers (CSOs), and Chief Managers (HR) / Managers (HR) of Circles.

3)    Mid-Career Program: This was a mid-career Certification Program conducted for eligible Scale-IV & V officials to enhance tactical decision-making, foster strategic foresight, and promote peer learning. As on 31.03.2026, 1,528 officials were trained under the program.

4)    JIBO/IBO Orientation: The orientation programs trained 49 junior India-based Officers (JIBO) and 40 India-based Officers (IBO) to be posted abroad at SBSC Hyderabad and SBIL Kolkata, respectively. The programs familiarised the officers with overseas processes and regulations and groomed them to serve as the Bank's brand ambassadors globally.

5)    EASE 8.0: This was an introductory programs curated and conducted on risk management. As on 31.03.2026, the program was attended by 735 officials handling various risk management desks.

6)    PRISM (Reflecting Positivity and Refracting Excellence): This 3-day program attended by 536 Regional Managers was aimed at raising awareness on risks from an unhealthy workplace environment and empowering them to build productive, consistent, and resilient frontline teams.

7)    RISE 2.0 (Recognise, Ignite, Strengthen, and Excel):

This leadership program was conducted for over 1,000 AGMs (Generalist) who had previously not undergone any leadership training. This included AGMs at Admin

Offices, BPR outfits, CCG, CAG, MCG, and other Corporate Centre establishments. As on 31.03.2026, 555 participants attended RISE 2.0.

8)    ASPIRE: This unique one-day online program was designed to encourage officials to consider promotions. This first-of-its-kind initiative, coordinated with CMD, CC, targeted officials opting out of promotion. A total of 6,368 employees, covering all Circles and CC units, participated in the program.

9)    Program on Negotiation Skills: A customised 3-day program was conducted by Eurofinance Training Pvt. Ltd. on "Negotiation Skills Masterclass for Senior Bankers'! Designed by Adrian Cleasby (faculty from London) at SBIL Kolkata. The program trained 24 officials from CAG, CCG and PFSBU departments.

10)    Training the Trainer:

i.    Advanced Behavioural Science Program: This 5-day program was organised at XLRI, Jamshedpur aimed to enhance skills in experiential pedagogy in Organisational Behaviour and expose faculty to contemporary perspectives in the field. A total of 42 faculty members from 51 SBILDs and 6 ATIs have benefited from the program.

ii.    Revamped Faculty Development Program: This program was aimed at upskilling the newly posted faculty. In FY 2025-26, the program trained 195 faculty members.

iii.    Director Development Program: This 5-day orientation program conducted for 51 SBILD Directors at SBIL, Kolkata was designed to equip them with the necessary leadership capabilities and administrative insights.

11)    Program on Economic and Financial Analysis of Renewable Energy, Storage and Hydrogen: A 4-day classroom program on Economic and Financial Analysis of Renewable Energy, Storage, and Hydrogen was organised at SBA, Gurugram for 37 officials from CCG, CAG, ESG, SME, and PFS & SBU.

H. Developing Executive Leadership Capabilities:

i. Mandatory Learning for TEGS Officials: TEG

officials were included in the Bank's Mandatory Learning framework. The coverage of TEG Officials, as on 31.03.2026, is summarised as under:

ii.    Specialised Training Program (STP) for TEG officials:

The Bank conducted specialised training programs for TEG officials to prepare future leaders across domains in High Value Credit & Risk, Digital Banking & IT, International Banking & Global Markets, HR, and Retail Business. This 6-day classroom program is a part of the Mandatory Learning (ML) for TEG officials and was attended by senior functionaries at GM and DGM grades, and organised at ISB and SBIL Kolkata.

iii.    Emerging Leadership Development Program: This The 6-day classroom program on "Emerging Leadership Development" was conducted at 11M Lucknow to upskill newly promoted DGMs, enabling them to address challenges during transformation of the financial services sector. During FY 2025-26, 167 DGMs participated in the program.

iv.    Program on High-Value Credit at SBIL, Kolkata in collaboration with CRISIL: A 6-day training program was conducted on high-value credit in collaboration with CRISIL at SBIL Kolkata for newly promoted DGMs. Of the 154 nominated officials, 153 DGMs had attended the program.

v.    OAC & Development Journey (In collaboration with JOMBAY): The program aims to enhance the knowledge, skills and perspectives of senior management through a 6-month development journey focusing on coaching to reinforce strengths and address improvement areas. During FY 2025-26, all 168 newly promoted DGMs undertook this journey as part of their Mandatory Learning.

vi.    Transformational Leadership Programs at ISB and SBIL: This 6-day leadership program was conducted at ISB and SBIL for GMs and DGMs to help them leverage decades of professional experience and gain exposure to cutting-edge leadership concepts. During FY 2025-26, 251 officials participated in the program.

vii.    Program on Operational Risk & Resilience: The

4.5-hour program on "Operational Risk and Resilience'; a part of EASE 8.0, was conducted for GMs, CGMs, and DMDs and focusses on operational stability and reliability, in collaboration with Deloitte Touche Tohmatsu India LLP. In FY 2025-26, 314 officials participated in the program.

viii.    External Training Abroad: Top management officials at the DMD level and above were deputed to premier global institutes, including London Business School,

Harvard Business School, Wharton Executive Education, and the Centre for Creative Leadership, United States, to understand global trends and enhance leadership skills. In FY 2025-26, seven DMDs attended the external training.

ix. Shakti - Program for Women Business Leaders: This program was designed for women employees in the BFSI sector. As on 31.03.2026, 182 participants were trained under the program.

BUILDING COMPETENCIES IN CONTEMPORARY DOMAINS

The Bank is committed to fostering an inclusive learning environment, while addressing key challenges in ethics, IS & cyber security, ESG and sustainability, grievance redressal mechanisms, diversity and safety. As on 31.03.2026, efforts undertaken to achieve these objectives as under:

a) Ethics and Data Governance:

i.    The Mandatory Learning curriculum for employees (Award Staff to Scale V Officers) included a dedicated e-Lesson on "Code of Ethics" Nearly 1.81 lakh employees have completed this e-Learning module.

ii.    Nearly 867 programs (classroom and webinars) included sessions on ethics and covered 23,711 employees.

iii.    Exclusive webinars were conducted on data governance, in addition to its inclusion in IT-related training programs. A total of 1,347 such programs (classroom and webinars) were conducted which covered 40,975 participants.

b)    IS and Cyber Security:

i.    In FY 2025-26, an in-house developed e-Learning module on IS & Cyber Security was made mandatory for all the employees. Nearly 1.81 lakh employees completed the e-Learning module and cleared the associated assessment, as on 31.03.2026.

ii.    To create awareness on online frauds in the banking industry, your Bank's apex training institute, State Bank Institute of Technology (SBIT), Hyderabad, conducts functional training programs and webinars on digital banking, information systems (IS), and cybersecurity for operating functionaries at the branches on a regular basis. These programs cover various aspects of online fraud, cyber security, and data governance in detail. During FY 2025-26, a total of 2,079 such programs were conducted, which covered 39,961 employees.

2,079

Programs conducted on IS and Cyber Security in FY 2025-26, covering 39,961 employees

iii.    To further enhance awareness on the increasing fraud risks, your Bank introduced an exclusive session on KYC-AML, Money Mules, and Cyber Security in classroom training programs at ATIs and SBILDs.

iv.    SBIIT curated micro-capsules in the form of short educational videos on cyber awareness to facilitate on-the-go learning for employees. During the year, 24 such videos were created.

c)    Climate Risk and ESG:

i.    ESG-related aspects such as renewable energy financing (Ethanol, CBG, Solar, Wind, and others) and reduction of carbon footprint have been included in Risk Management programs conducted at various institutes.

ii.    SBILDs conducted a total of 324 sessions/webinars on ESG, covering 8,154 participants.

d)    Grievance Redressal Mechanism & Compensation Policy:

A total of 1,677 classroom sessions and 168 webinars on Grievance Redressal Mechanisms were conducted, covering 43,465 employees. These programs aimed at enhancing the knowledge of frontline staff on internal grievance redressal mechanisms, compensation policy and aimed at enabling the employees to guide the customers effectively.

e)    Trainings on Health and Safety:

i.    CPR (Cardio-Pulmonary Resuscitation) and BLS (Basic Life Support) training programs were conducted across SBILDs and ATIs to educate employees on emergency medical procedures. Qualified hospital teams demonstrated the right techniques and trained participants being in life-saving skills. A total of 4,622 participants attended 161 such programs.

ii.    C.A.R.E. sessions were conducted on well-being, as part of SuPeR SBI 2.0, to help participants enhance their physical, emotional, mental, and social well-being and provide practical guidance for a balanced and fulfilling life. As on 31.03.2026, 2,01,517 employees were trained under the program.

iii.    Training programs for Armed Guards were conducted at SBILDs that covered knowledge on basic banking, soft skills, first aid, effects of alcohol, and branch security. During the year, a total of 2,583 armed guards were trained as part of this initiative.

iv.    Theme-based webinars are conducted monthly on "Well-being and Positivity" by SBIL, Kolkata. A total of 8 such webinars have been conducted with participation from 237 employees.

f)    Diversity, Equity, and Inclusion (DEI):

i.    "Samya" is a fortnightly initiative conducted by State Bank Staff College, Hyderabad, and is a collection of interventions on gender parity. It focusses on developing an attitude of respect, equality, and fair play. The Caselets acquaint the operating personnel with provisions on the Prevention of Sexual Harassment (POSH) and disseminate gender sensitivity.

ii.    Webinars/Sessions on POSH/Garima were conducted by SBILDs and ATIs. Further, POSH is also included in all major training programs as an exclusive session aimed at spreading awareness on the Garima policy. During the year, a total of 711 sessions/webinars were conducted, covering 20,480 participants.

711 Sessions/Webinars

on POSH/Garima conducted, covering 20,480 participants

iii.    An in-house developed e-Learning module was made mandatory for all employees in FY 2025-26 on the POSH-Garima policy. Nearly 1.90 lakh employees completed the module and cleared the associated assessment, as on 31.03.2026.

iv.    Another in-house developed e-Learning module on "Communicating with Persons with Disabilities (PwD)" has been made mandatory for all employees. Nearly

1.81 lakh employees completed the module and cleared the associated assessment, as on 31.03.2026.

v.    During the year, a program for Women Business Leaders was conducted for high potential group of business leaders, including Branch Managers, Regional Managers and DGMs. In addition to core functional and leadership inputs, the program included sessions on POSH/Garima. Till date, a total of 379 women employees have been covered under this program.

vi.    A two-day "Back to Work" program (3R: Reboot, Refresh, Resume) was rolled out by SBIL, Kolkata in an online mode. This was aimed at supporting women employees returning to the workplace following a long break by providing them with all the necessary tools, resources and knowledge to help them successfully reintegrate into the work environment. Till date, 566 women employees have been trained under this initiative.

vii.    The two-day program "SHINE" (Self-discovery, Holistic Growth, Inner Strength, Nurturing Network, and Empowerment) is designed in collaboration with GPS Goal Squad (external partner), and rolled out for women employees in the clerical cadre in August 2025. The program empowers and inspires women employees by equipping them with the essential skills in confidence building, professional effectiveness, and personal development. So far, 7,811 women employees have been trained under this program.

viii.    In FY 2025-26, SBILDs conducted Pre-Promotion Training for SC/ST/OBC/PwBD category employees due for promotion to TO/JMGS-I, MMGS-II, and MMGS-III. A total of 598 classroom training programs and 81 webinars were conducted, covering 18,669 employees.

IMPROVING PERSONAL SKILLS - KEY TO ORGANISATIONAL GROWTH & DEVELOPMENT

As a service-driven industry, banking places significant importance on human relationships. Effective interpersonal relationships are essential both within the organisation and while engaging with external stakeholders. Your Bank focusses on strengthening the personal and soft skills of its employees at various levels. The training programs are designed to be role-specific, addressing the unique requirements of different functions.

The below training programs were conducted during FY 2025-26:

a)    SuPer SBI 2.0: C.A.R.E.: Mass Engagement Program was conducted to empower its frontline staff with the requisite knowledge, skills, and professional etiquette to deliver exceptional customer service, ensure operational efficiency, and strengthen a customer-centric approach. As on 31.03.2026, a total of 2,01,517 employees were trained under the program.

b)    Embedding Soft Skill in Core Training Initiatives:

To enhance interpersonal skills, adaptability, conflict management, social media, and business etiquette amongst the employees, various session(s) on soft skills were incorporated in all major functional and specialised programs, as mentioned below:

i.    Induction program for new recruits like POs/TOs/ CBOs/Junior Associates

ii.    Management Development programs for POs/TOs

iii.    Programs for specific role holders, like First Time Branch Managers

iv.    Precision Training Program for CMs (HR) and Manager (HR)

v.    Training for First Time Service Managers

vi.    Training Program for Corporate Salary Relationship Managers (CSRMs)

vii.    Mid-Career Certification program for SMGS-IV & V officials

During FY 2025-26, training was imparted to 8,662 participants through classroom programs and webinars.

BUILDING A COMMITTED WORKFORCE: ENHANCING EMPLOYEE ENGAGEMENT

a)    SBI Wizards: Positivity is a powerful catalyst for enhancing staff resilience and coping abilities, benefiting both employees and the organisation. "SBI Wizards" is a family quiz conducted to engage employees and their family members, promoting positivity and team spirit. The semi-finals were held at SBIL, Kolkata, and the Grand Finale was conducted at the Auditorium, SBI Corporate Centre, Mumbai on 26.11.2025.

b)    Yes, I Can Bring Change - Annual Success Stories Campaign: Initiated in 2021, the campaign aimed at capturing the most creative, inspiring, and actionable transformation stories from employees across all grades.

The originators of the top five success stories were invited to SBI's Corporate Office in Mumbai and presented with Certificates of Excellence by the Chairman and Top Management at the Chairman Club Function held on 13.10.2025.

c) Transition To Retirement (TTR) Program: This flagship program was conducted for all officials due for retirement, and for their spouses, in order to help them manage this life transition in the post-retirement stage. For officials in AGM grade and below, the program was conducted at SBILDs; while for officials under TEGS-VI and above, it was conducted at SBIL.

The program's content was updated to reflect contemporary needs, incorporating themes such as post-retirement career prospects, cyber security awareness, and spiritual well-being. A total of 1,338 employees were trained under this program during the year.

BEYOND CLASSROOM: OTHER LEARNING INTERVENTIONS

a)    Research Studies: In FY 2025-26, 71 research studies were initiated, 62 research studies were completed, and the final report was submitted. Of these, 39 research studies received excellent/very good ratings.

b)    Market Intelligence Report: About 17 Research Officers made 436 submissions of these reports, providing crucial insights into strategy development and informed decision-making.

c)    Other Virtual Learning Channels: Virtual learning channels include webinars, podcasts, and e-lessons. The daily quiz platform, "My Quest Today" recorded participation from 21,448 employees. Gen AI-enabled askSBI search engine, your Bank's internal knowledge platform, was accessed by over 78,581 employees.

d)    The Case Study Discussion Board engaged 20,418 participants and encouraged problem-solving and knowledge-building, and the winners were rewarded with e-gift vouchers.

OTHER COACHING INTERVENTIONS

a)    Visiting Faculty Scheme (VFS): The Visiting Faculty Scheme (VFS) is an important initiative supporting continuous learning and complementing classroom training. Faculty members visit branches to disseminate corporate priorities and bridge identified skill gaps. As on 31.03.2026, faculty members from SBILDs conducted 3,766 visits to branches, reaching out to 21,466 participants.

b)    Sarthak: During FY 2025-26, the Sarthak initiative was rolled out in August 2025 to ensure that the Bank's "Audit & Compliance" processes go beyond a mere tick-box exercise and lead to transformational improvements in work culture. The initiative aims to improve branch audit ratings, enhance risk awareness, and inculcate the habit of "doing things right the first time - every time" at the grassroots level. Out of 108 C-rated identified branches audited between August 2025 and March 2026, 106 branches showed improvement in CRM/ORM parameters.

c)    Gyan Setu - A Call Centre for Staff Members: To

resolve non-technology related queries of the employees, the Bank launched Gyan Setu, a call centre that handles queries of the employees and addresses the knowledge gaps real-time. Employees can call from their registered mobile numbers to the dedicated Gyan Setu landline (040-41431212) between 10:30 AM and 5:00 PM on all working days of the Hyderabad Circle.

KNOWLEDGE-SHARING FOR STRONGER ALLIANCES - TRAINING FOR VALUE CHAIN PARTNERS

a)    "UDAAN MARGDARSHI - Empowering the BCs to Achieve Greater Heights" is a two-day capacity-building program for Business Correspondents (BCs). Launched pan-India on 29.12.2025, the program has the key objective of strengthening the supervisory capabilities of BC State Heads and District Coordinators. The program was designed and conducted by SBIRD, with two faculty members being deputed to Circles to conduct sessions at SBILDs. As on 31.03.2026, a total of 462 participants were trained under the program.

b)    Feet-on-Street of SBOSS (State Bank Operations Support Subsidiary): Training programs were conducted by SBILDs for Feet-On-Street (FOS) personnel attached to SBOSS Private Ltd. across Circles to equip them with role-specific skills. A total of 3,025 participants were trained through these classroom programs.

Digital Banking and Transformation-Consumer

In this fast-changing digital era, SBI continues to keep pace with evolving customer behaviours and expectations by adopting the latest transformative technologies. This powers our ability to provide the right solutions to our diverse clientele, deliver superior customer experience and improve operational efficiency. While creating seamless and innovative digital products across assets and liability segments, your Bank is simultaneously redesigning its back-end processes through end-to-end digitisation initiatives.

The new YONO, launched on 15^th December, 2025, is a platform built on a modern tech stack with integrations across multiple FinTechs and advanced MarTech capabilities. It offers a comprehensive suite of products and services catering to all customer segments. While its design appeals to GenZ, its intuitive navigation and product/service discoverability make it equally attractive across other age groups.

An enterprise-wide MarTech stack enables YONO to deliver hyper-personalised offerings across all customer personas. Furthermore, digital and offline marketing strategies are accelerating the adoption of digital channels while also expanding the top-of-the-funnel through enhanced awareness.

The newer version of YONO represents a significant upgrade at a functional and architectural level, featuring App and Web on the same platform. It now delivers an omnichannel, personalised and refreshing experience. Built on a microservices architecture, the platform is designed to resiliently handle 3-5X of the present scale.

It functions as a platform scalable both horizontally and vertically, enabling your Bank to build a strong partner ecosystem with FinTechs, other digital businesses and the Digital Public Infrastructure (DPI) layer. The new YONO also supports a collaborative ecosystem where SBI can work closely with its Fintech partners, enabling multiple workflows in a seamless manner. Additionally, your Bank is actively working on enabling several AI-driven capabilities, such as Voice/AI-enabled features and an interactive AI Chatbot on the new YONO platform, leveraging its proposed AI stack.

Your Bank remains committed to remain compliant with WCAG (Web Content Accessibility Guidelines). An 'Accessibility Conformance Certificate' was awarded to BHIM SBI Pay and SBI WhatsApp Banking and efforts are underway to shortly align YONO, YONO Lite and YONO Net Banking with the accessibility norms.

In a relentless pursuit to transition beyond the minimum two-factor authentication, an Adaptive Authentication mechanism is being developed. The new mechanism will enable authentication based on transaction location, user behaviour patterns, devise attributes, historical transaction profile and other perceived risk parameters. Such initiatives, along with many others, have helped your Bank to win customer trust and its digital channels to experience faster customer acceptance, evident in the following numbers:

Additional Customer Engagement Metrics

•    Average daily logins to YONO App increased to 1.34+ crore (as on 31.03.2026) from 1.29+ crore (as on 31.03.2025) with a peak per day login of over 2.7 crore and over 40,000 logins/min

•    On an average, your Bank processes 273 million financial and 133 million non- financial UPI transactions daily, with over 33 crore SBI customers enabled for UPI

Digital Penetration Figures as on YTD Mar'26

•    FD - 77%+

•    RD - 85%+

•    SB Account Opening (Eligible) - 90%

•    SB Account Opening (Overall) - 66%+

•    PPF - 56%+

•    NPS - 96%+

Several digital customer journeys have been introduced on YONO to consistently enhance customer convenience. Going forward, focus remains on making YONO more intuitive, contextual and responsive by embedding deep analytical insights through MarTech, thereby strengthening a 'Digital First, Customer First' ecosystem.

As per the State of India's Digital Economy Report 2024 (ICRIER), India ranks 3rd globally in digitalisation and by 2030, the digital economy is projected to contribute nearly 20% of India's GDP - a statistic that further reinforces the strategic importance of our sustained digital transformation journey.

Channels and Operations

Payment Aggregator & Payment Gateway

RailOne, Railway's ticketing app, powered by SBI's payment aggregation platform, processed 10.56 crore transactions worth ?3,770 crore (FY 2025-26), showing steady growth since its launch in July 2025.

SBIePay (1.0 & 2.0), your Bank's PCI DSS 4.0.1 and an ISO 27001:2022 certified payment aggregator platform, onboarded 450 new merchants in FY 2025-26, serving 3,596 merchants cumulatively. The revamped SBIePay 2.0 introduced multi-platform SDKs - a multilingual payment page and a DevSecOps-based microservices architecture.

SBIUnipay, your Bank's unified BBPS and non-BBPS bill payment platform, added 316 billers and 3 agent institutions in FY 2025-26, now serving 1,671 billers and 27 agents institutions, covering 2,716 agents cumulatively.

SBI Payment Gateway, a PCI DSS certified solution for e-commerce merchants, onboarded 59,747 sub-merchants in FY 2025-26, reaching 82,539 sub-merchants and 17 aggregators by March 2026. Key launches included Forex on Bharat Connect, e-Challan (Digital Traffic Enforcement Payments), and EV Recharge on Bharat Connect through SBIUnipay etc.

Cash Management Product

Your Bank's Cash Management Product (CMP) serves corporates and government customers, managing their payables and receivables through various modules like Payments, Collection, Mandate, Dividend Warrant, Receivable Management, Liquidity Management, etc. CMP processed transactions worth ?130 lakh crore and generated both Fee and Float income for your Bank. The recently upgraded platform provides a unified solution offering a range of products like bulk transaction processing, bulk cheque and DD printing, VAN-based collections, agency services, mandate management etc. The platform, powered by latest technologies like Cloud Container platform, Microservices architecture, and DevOps pipelines, delivers a robust and

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International Operations

Several initiatives were taken across your Bank's Foreign Offices (FOs) and subsidiaries to enhance digital capabilities and operational efficiency.

•    Project KENTRO, by shifting trade finance back-office operations to Hyderabad and Kolkata, aims to centralise and digitise it

•    1^st phase was rolled out in February 2026 across 4 FOs

•    Currently implemented across 6 FOs (London, Dubai, Gift City, Antwerp, Male and Johannesburg) with plans to roll it out across all remaining FOs by 30^th June, 2026

•    Foreign Currency Settlement System (FCSS)

•    Launched at the GIFT City branch in November 2025

•    Enables real-time local settlement of foreign currency transactions between IFSC Banking Units without relying on correspondent banks

•    SMART OTP, an offline OTP feature for web and mobile transactions, has also been introduced as an alternative to OTP delivery through International SMS

•    Global SCF Link project

•    Implemented Supply Chain Financing platform across Foreign Offices under the project

•    Project is in testing stage with New York office as the pilot FO and is expected to be rolled out across all FOs during FY 2026-27

YONO Business

YONO Business, along with Corporate Internet Banking (CINB), forms a unified digital ecosystem providing seamless services such as onboarding, payments, trade finance, forex, and supply chain solutions through integrated web, mobile, and API channels.

Serves 44 lakh

Corporates with 59 lakh users including MSMEs, sole proprietors and large organisations

In FY 2025-26, the application was upgraded, facilitating migration of 350+ journeys from the legacy monolithic system to a microservices-based YONO Business platform with improved UI/UX and migration to Meghdoot cloud infrastructure. Other enhancements include biometric and MPIN access in YB mobile app, ATM cash withdrawal without card (YB Cash), tab-based current account opening, Digi Sugam and Digi Sahaj digital overdraft facilities, and straight through processing ASBA IPO application for corporate customers.

banking. The service saw strong adoption with over 2.12 crore registered users and expanded to cover 93+ customer journeys, including informational and non-financial services in six regional languages, in addition to Hindi and English. WhatsApp Banking continues to serve as a key digital touchpoint, enabling customers to access quick, menu-driven services without logging into a mobile application.

SBI Authenticator

SBI Authenticator is a secure, user-friendly enterprise authentication solution developed by your Bank to enhance digital banking safety and comply with RBI Authentication Directions, 2025 for additional factor authentication.

Designed to replace traditional SMS OTPs, it provides modern authentication options including prompt-based approvals, QR code scanning, and app-based OTPs, supporting both financial and non-financial transactions. The app is currently integrated with SBI YONO Lite, Retail Internet Banking (RINB), and SBI ePay Lite (MINB), and features flexible mode switching, activity logs, and advanced security. Developed for Android and iOS, SBI Authenticator not only improves customer convenience and security but also reduces SMS costs for your Bank.

ATM Channel Notable achievements

•    Achieved PCI DSS compliance for 7th consecutive year

•    First public sector commercial bank in India to comply with PCI DSS v4.0

•    Successfully completed PCI-PIN certification (v3.1) for ATM ecosystem

Your Bank serves 25.32 crore active debit card users and operates a network of 63,522 ATMs/ADWMs (as on 31.03.2026) connected to the ATM switch those processes over 1.5 crore transactions daily. As a part of sustainability initiatives, 26.69 lakh virtual cards were issued to reduce the use of plastic and EMV chips. Additionally, your Bank has issued 11.67 lakh prepaid card variants (including INR prepaid, single & multi-currency FTC, and gift cards), 30.62 lakh transit and metro cards, 77.45 lakh active FASTags, and 7.72 lakh annual passes as on 31.03.2026, contributing to the rapid digitisation of micropayments.

UPI

The Unified Payments Interface (UPI) is a flagship application of State Bank of India, integrating multiple bank accounts into a single mobile platform with full interoperability for seamless fund transfers and merchant payments.

In FY 2025-26, SBI:

•    Processed 30.8 crore financial and 17.7 crore non-financial UPI transactions per day (maximum)

•    Contributed ~ 27% of the total UPI ecosystem volume

•    Supported 93.8+ crore Virtual Payment Addresses (VPAs) across SBI and non-SBI accounts

Key customer-centric initiatives during the year included enabling users to mark transactions as unauthorised to prevent misuse; raising the ICCW limit from ?5,000 to ?10,000; introducing bio-authentication for transactions up to ?5,000 in place of MPIN; and implementing FASTag and NCMC card auto top-ups through the BHIM SBI Pay app to enhance convenience.

Core & Special Projects

IT-Agri Tech

Committed to providing universal access and service excellence to customers, your Bank has embarked on a transformation journey of revamping its application by adopting modern Low code - No code architecture, embracing fintech integration, and embedding cloud in the Agri Tech area. The Reserve Bank Innovation Hub (RBIH) has conceptualised a Uniform Lending Interface (ULI) to create a standardised interoperable template/protocol which can talk to all the banks' lending systems. Integration of Agri LMS with ULI for KCC end-to-end digital journey is also under implementation.

IT-Corp & SME Loans

BRE JOURNEY FOR MSME LOANS UP TO ?5 CRORE

The SME Revamp initiative digitises MSME credit assessment for loans up to ?5 crore using the Business Rule Engine (BRE), enabling instant, bias-free Go/No-Go decisions in 5-8 seconds. It integrates internal and external data (bank statements, GST, ITR, credit bureau) via APIs, computes limits based on projected sales and incorporates pre-sanction checks. Built on a modular, agile architecture, it reduces turnaround time by over 50%, supports high loan volumes, ensures accurate and transparent credit decisions, and enhances MSME access to finance.

IT-Financial Inclusion and Government Schemes (FI&GS)

Your Bank was adjudged "Winner" for the seventh consecutive year in the Best Digital Financial Inclusion category among large banks at the IBA Annual Banking Technology Awards 2024-25.

During the year, your Bank introduced several key customer service initiatives, including:

•    Face authentication for AePS transactions on Android-based tab devices at CSP outlets, eliminating the need for external fingerprint or IRIS scanners

•    KYC update and re-KYC for Aadhaar-linked accounts at CSPs, enabling customers to update or reactivate accounts conveniently

•    Introduced E-Sign functionality for account opening forms, making the eKYC account opening process at CSPs completely paperless without manual steps like scanning, uploading, or physical migration of forms

IT- Trade Finance & SCF

Trade Finance NextLeap carries forward the initiatives after successful completion of the prestigious Trade Finance Revamp project. The two centralised Global Trade Finance Centres are fully operational catering to ~9,000 branches. Multiple Trade Finance processes are being merged into a single step for improving TAT and end user experience.

Artificial Intelligence will be leveraged by your Bank to further streamline the processes and Trade Finance products and introduce futuristic enhancements. Use cases include:

•    Inland BG classification and text vetting

•    Document classification in all Trade Finance modules

•    Document scrutiny for LC & Bills

•    Agentic AI for generation of smart LCs, BGs

•    End user support in resolution of Service Desk requests

•    Development of new greenfield journeys

Efforts to upgrade the tech stack of EximBills and Customer Enterprise applications to the latest cloud native technologies are also underway.

IT- Retail Loans

Your Bank's Retail Loan Management System (RLMS) is an in-house developed platform that streamlines and automates the entire retail loan lifecycle - from sourcing and processing to sanction, disbursement, collection, recovery, maintenance, and closure. Designed for internal teams, it provides a single intuitive platform to manage all retail loan products efficiently.

Milestone achievement

1.11+ crore

Loans sanctioned through RLMS in FY 2025-26

RLMS is complemented by the Retail Assets Acquisition System (RAAS), integrated with YONO, OCAS, CRM, PMVLP, Jan Samarth, and OEMs, serving as the primary entry point for most loan products, while Loan Accounts Management System (LAMS) manages delinquent accounts.

Online Project Approval System (OPAS) handles project approval, review, monitoring and is being revamped to make it market play, internet focussed, more intuitive and aligned with latest trends. Key characteristics rolled out during the year include:

•    Centralised commission calculation module

•    RLMS Insight real-time new dashboards

•    Customer Loan Assistance Portal (CLAP) for digital communication with customers

•    RAAS internet-facing journeys for home and auto loans

•    Common maintenance module for post-disbursement STP

• Single-click loan closure module with automated document generation

• End-to-end integration with SBI Life Insurance for Suraksha Loans

•    Seamless PMVLP portal integration for education loans

•    DevSecOps implementation to embed security, testing, and compliance throughout the software development lifecycle

Online Project Approval System, currently handling the builder tie-up process, is an intranet-based application integrated with other applications, viz. RAAS, YONO and Lises Fores. Technological upgradation in the app is underway and will enable the app to integrate with more applications, handle multiple business logics and a larger user base, therefore becoming future-ready.

IT- Development-Core Banking department

During FY 2025-26, the Core Banking Solution (CBS) implemented several customer service initiatives, including auto-conversion of term deposit accounts for customers reaching "Super Senior Citizen" status (at age 80) and implementation of continuous clearing. Enhanced communication efforts now include SMS notifications upon account activation following internal scrutiny, inclusion of Term Loan details in monthly Consolidated Account Statements (CAS) sent via email, and updated welcome letters for New-to-Bank (NTB) Current Account holders featuring branch and manager contact details.

The financial updates feature systemic controls to mandatorily waive pre-payment charges for micro and small category borrowers during loan closure and introduction of the PM SVANidhi Credit card with features like interest-free credit period, bill generation and due date, and interest application on overdue amount. Furthermore, Home and Education Loan provisional certificates are now being issued in January, February and March to also cover new accounts opened during this period (earlier, these certificates were sent only for accounts opened up to December).

CBS is currently serving an average daily TPS (Transaction per second) of 19,000 and can sustain TPS up to 34,000-35,000 with its existing architecture. Tech modernisation of CBS, including deployment of best-in-class hardware is underway,

considering the current workload, capacity building targets for next 10-15 years, and TPS projection of 1,00,000 and high availability of 99.99%. Building on this modernisation journey, project CoreNext was initiated as a strategic lever for optimising and decoupling non-core functionality, with the goal to make CBS leaner, modular, scalable and future-ready.

IT-SP(Government) Department SBI DigiGov

As of 31^st March, 2026, the SBI DigiGov platform processed a total of 70.13 lakh government transactions valued at ^37,681.80 crore. Several new schemes, including the Department of Consumer Affairs' Price Stabilisation Fund (PSF) scheme, have been onboarded onto DigiGov Model 1 for managing funds, payments and collection along with maintenance of stock and inventory.

Next Gen GBSS

The NXT-GEN GBSS represents a strategic initiative to modernise government business handling through a state-of-the-art application utilising latest technologies and frameworks, slated to fully replace the existing GBSS applications.

Key objectives of this transformation include establishing a single-stop solution for all government transactions, significantly enhancing efficiency to achieve near-zero slippage for reporting and enabling near real-time fund settlements. The system ensures enhanced control over government accounts via standardisation, a branch/channel agnostic approach, and 3-way auto reconciliation to maximise technological benefits. The project is being implemented in phases with complete roll out of all functionalities scheduled by 30^th June, 2026.

CDAMS

The Court Deposit Accounts Management System (CDAMS) is designed to digitise and centralise the management of compensation payments related to MACT legal cases. The platform aims to enhance transparency, security, and efficiency of the overall transaction processes among diverse stakeholders, including various levels of courts, insurance entities, banking institutions, and claimants. The project is currently under final stages of E&TA approval, with a full roll out anticipated within CUG by 31^st March, 2026. Furthermore, the application has the potential for future expansion to manage other type of compensation payments across the judicial system.

CTO

Enterprise Technology Architecture

Your Bank's Enterprise & Technology Architecture department translates organisational objectives into actionable IT strategies at an enterprise level. The department conducts architectural assessments and architectural audits of applications, supports application modernisation initiatives, assists in technology standardisations, and performs IT capacity assessments, in alignment with industry's best practices. Enterprise Architecture tool is adopted at the Bank level.

New YONO

Project New YONO aims to accelerate your Bank's digital transformation journey by enhancing customer-centric digital services and aligning them with emerging technologies. The platform is designed to deliver a seamless, hyper-personalised omnichannel banking experience across the mobile app, web platform, and branch portal, built on a cloud-ready technology stack with a microservices-based, modular and distributed architecture for scalability and future readiness. It incorporates enhanced authentication and transaction limit systems, while giving customers flexibility to choose their preferred channels. Creating a web username and password is no longer mandatory as customers can opt to use only the mobile app through MPIN or disable unwanted channels via the YONO App/Web.

The platform improves operational efficiency through automation and streamlined digital workflows; enhances customer acquisition and retention through 24x7 availability; provides a seamless end-to-end New-to-Bank (NTB) onboarding experience integrating payments, lending, and investment services; and enables hyper-personalised financial experiences using integrated customer data and analytics for targeted recommendations and tailored financial planning, thereby improving cross-selling opportunities and profitability.

New YONO was launched through a risk calibrated approach and ramped up in phases from Dec' 2025 to Jan'2026, offering functionalities such as customer onboarding, payments, loans, and joint-venture journeys including Mutual Funds, SBI Life, SBI General, SBI Card, and securities services, while leveraging the FinTech ecosystem to provide advanced features like Spend Analytics, Goal-Based Personal Financial Management, and Green Sustainability initiatives.

Enterprise Integration Services

EIS serves as Middleware Platform of the Bank, providing streamlined, optimised and standardised integration amongst various internal and external systems through API-based

communication. Currently, 1,200+ APIs are being extended to 300+ internal and 70+ external integrations.

EIS is hosted on a scalable and robust private cloud environment providing more than 99.999% availability. Moreover, it provides best-in-class security and adheres with the latest industry standards.

Additionally, Open Banking solution for engagements with Fintech and startups is being provided through SBI InnoHub platform. This B2B platform hosts 270+ unique APIs in public domain for innovative collaboration.

Software    Factory    and    Software Factory

(Infra and Ops)

Your Bank's Software Factory Department manages development, infrastructure readiness and operation activities for the Bank's in-house applications, with focus on creating a large pool of your Bank's own skilled resources. It focusses on strengthening internal software development capabilities while ensuring seamless infra management, application operations and end user support. We develop applications for government departments, regulatory and compliance requirements, assets and liabilities products, and branch operations, while implementing best practices in project management and information security to deliver robust and future-ready solutions. We are geographically spread across Mumbai, Bengaluru, Chandigarh and Hyderabad.

IT-Infra & Platform Engineering IT-Cloud Solutions

Meghdoot - Driving Innovation and Sustainability

Meghdoot, Your Bank's private cloud, hosts over 350 applications, including critical services like UPI, New YONO, CRM Next and DBT. Aligned with your Bank's commitment to sustainability, Meghdoot uses just 8% of the data centre footprint while hosting 76% of applications, significantly reducing carbon emissions. It integrates with public cloud services, combining security and scalability. By driving digital transformation, AI capabilities, and operational efficiency, Meghdoot is enhancing customer experiences and supporting your Bank's ESG initaitives.

Exceptional achievements

•    Achieved 3X infra enhancement at once, taking server count from 1,700 to 5,300 and storage from 43 Peta Bytes to 120 Peta Bytes

•    Provision of GPU Farm to provide GPU as a service, supporting AI enablement

•    2 new Meghdoot setup rolled out in CtrlS DC, Mahape, Navi Mumbai and AZ, Gachibowli DC, Hyderabad

IT-Network

Country-wide implementation of Software-Defined Wide Area Network (SDWAN) solution is underway and will significantly improve branch connectivity, uptime, and performance. The cybersecurity of your Bank has been further fortified through additional network segregation and introduction of new and advanced firewalls. The Data Centre network has also been upgraded to cater to customers' requirements with newer and advanced routing and switching technology.

IT-Data Centre & Operations

A new Tier-IV co-located Data Centre has been established at Navi Mumbai.

AI-ready infrastructure:

•    Creation of high-power density zones across DCs to host high performance computing devices / GPUs

CIO

IT- Contact Centre Operations (IT-CC Ops)

Key emphasis has been placed to enhance customer experience through various initiatives undertaken in FY 2025-26:

•    Network expansion added two new outbound sites in Navi Mumbai (July 2025) and Kolkata (September 2025), complementing existing operations in Gurugram and Bengaluru

•    Infrastructure was modernised with an AI-powered voice bot to improve service quality and responsiveness

•    In a bid to further simplify customer interactions, a RE-KYC option was introduced via IVR for accounts with no changes in KYC details

•    The Contact Centre now supports WhatsApp Banking registration through both IVR self-service and agent-assisted channels, further integrating digital and voice-based customer engagement

IT- Governance

Your Bank's efforts to scale its digital capabilities is accompanied by a proportional increase in risks and complexities. With disruptions, cyber threats, and regulatory non-compliance posing significant business risks, IT Governance is not merely an operational requirement but a strategic imperative. Accordingly, your Bank has deployed a robust IT Governance structure, led by the Deputy Managing Director - IT (DMD-IT), with strategic and operational support from all Chief General Managers (CGMs) at the Global IT Centre (GITC) and the Group Chief Information Security Officer (Group-CISO) at GITC. Additionally, an IT Governance Department as a central coordinating body in GITC, has been created for the development, implementation, monitoring, and continuous improvement of your Bank's IT Governance Programme.

ROC

Your Bank has significantly strengthened its technology resilience through capacity augmentation of core digital platforms, elimination of single points of failure, automated disaster recovery, and 24x7 centralised monitoring under the Resilience Operation Centre (ROC). These initiatives, along with the transition toward predictive monitoring under ROC 2.0, have led up to 74% reduction in unplanned downtime across critical applications, reinforcing your Bank's commitment to securing, reliable, and future-ready digital banking.

CDtO

IT-DWH

Your Bank is consistently moving towards strengthening its digital footprints and driving data-driven growth. Accordingly, a modern Data Lakehouse platform is being implemented to unify enterprise data into a single, secure foundation, enabling real/near real-time analytics, AI/ML-driven insights, and self-service business intelligence.

With robust governance and scalability, this platform will support faster decision-making, improved customer engagement, and enhanced risk management. Your Bank has also deployed an AI-driven MarTech platform, integrated with New YONO, CRM, and other digital channels, to deliver personalised, real-time customer engagement, optimise journeys, and improve lead conversion. Integration with AdTech and social media platforms is underway, aiming to further enhance digital marketing capabilities, boost engagement, and drive sustainable business growth.

Customer Relationship Management (CRM)

Your Bank's CRM solution is now omni-present, digitally integrated, with the recent cloud migration adding resiliency. The Complaint Resolution Hub facilitates customers with simple journeys and improved digital experience while the upcoming AI and real-time data exchange capabilities will equip Relationship Managers with deeper, actionable insights, enabling focussed interaction with customers.

The recently launched Global Relationship Manager (GRM) module is meant to provide GRMs with complete visibility of group level data, enabling them to make better and more informed decisions, thus facilitating corporates with a Single Point Of Contact for their different banking and investment needs. It would further enhance complaint classification and save resolution time and cost. In-pipeline social media integrations of CRM would help us grow our reach and properly classify and resolve the queries building customer trust. Consent Management and DPRM integrations with Customer 360 are expected to further empower your Bank to align with DPDPA and provide customers with greater transparency and control on personal data.

A few customer-centric projects initiated during the year are:

•    Integrated WhatsApp Banking and CRM with Account Aggregators to capture customer's interest in a product

•    Facilitating the creation of case in CRM to capture and address customer grievances lodged in Jan Suraksha Portal related to enrolment and claim under PMJJBY and PMSBY

•    A centralised GSS (Govt Sponsored Scheme) Portal was developed and integrated with all existing portals such as LLMS, LMS, CRM, CGTMSE, state government portals etc.

•    Contact Centre enhancements were made and include:

•    New Debit Card issuance

•    KYC Updation

•    Retail Loans account statement

•    Cheque book despatch status

•    Cash Management Product complaint/feedback journey

•    Branch Locator

Data Governance:

Over the past year, your Bank has continued to strengthen its Data Governance framework to enhance trust, consistency, and effective utilisation of data across the enterprise. Governance mechanism has been further reinforced with focus on improving data quality to ensure that data assets remain reliable and secure, thereby supporting the Bank's digital transformation initiatives. In recognition of these efforts, your Bank -

Won TransUnion CIBIL Award under three categories (FY 2025-26)

•    Data Performance Champion - Overall Data (Consumer, Commercial & MFI)

•    Best Data Acceptance Award - Overall

•    Best Data Quality Award - Commercial

Third-Party Management

With a view to providing uninterrupted services to our esteemed customers, your Bank has outsourced various financial and credit-related services permitted by Reserve Bank of India. Your Bank ensures adherence to all guidelines issued by the Regulator regarding outsourcing of services with centralised monitoring through Outsourcing Lifecycle Management System (OLMS) portal. Your Bank is also in the process of procuring an integrated and robust end-to-end Lifecycle Management Software solution for all Third-Party activities in the Bank, which is expected to be operationalised during the next FY.

Your Bank is consistently strengthening risk framework by introducing various risk mitigation measures with respect to Outsourcing such as uniform onboarding process, monitoring framework for outsourced resources etc. Your Bank has reviewed Outsourcing Policy in full alignment with the RBI's Master Directions 2025 on Outsourcing.

As per regulatory instructions on prevention of financial frauds perpetrated using voice calls and SMS, your Bank has implemented centralised tele-calling facility using 1600xx centralised series to customers by third party service providers.

Your Bank reaps benefits including efficiency in operations, increased ability to acquire and support current technology and shorter lead time in delivering better quality services to customers through outsourcing.

YONO Department and Analytics

1.    Approximate income earned

?1,80,518 crore in advances and ?194 crore in JV commission from leads generated through your Bank's Analytics function in FY 2026

2.    An in-house team of 100+ Data Analytics, AI and subject matter experts pioneered cutting-edge use-cases, including the launch of 15 domain specific generative AI chatbots for internal use. These chatbots provide exact and contextual responses instantly, allowing staff to look up specific workflows, norms, etc.

3.    Generative and agentic AI technologies are being embraced at scale through initiatives like AskSBI chatbot for Bank staff, agent assistance chatbot for contact centre and cheque processing automation.

Generative AI is also being deployed to assist analysts in Project Finance BU under Project CHAKRA, allowing them to instantly access information about emerging industries, compare industry trends, use internal circulars/policies, etc.

4.    Fraud and AML controls have been proactively adopted, including the MuleHunter.AI initiative by the RBI Innovation Hub.

5.    A new digital loan journey backed by analytics has been launched for Pre-Approved Small Business Loan.

6.    The 'AI Based Emerging Technologies' (AIBET) Policy, covering emerging technologies like generative and agentic AI, has been instituted by your Bank. This initiative, along with continuous upskilling, will ensure rapid deployment of cutting-edge solutions, in compliance with regulatory requirements.

7.    Your Bank's collaboration with IIT-Bombay via SBIF Hub for Data Science and Analytics has further intensified, with 22 projects being implemented across critical areas such as climate risk, securing generative AI, responsible AI, etc. Several papers have been published across international forums, solidifying your Bank's position in the industry.

8.    Your Bank's analytics practice is certified under the ISO 9000:2015 standard for Quality management systems and has been recognised at various industry forums, including the IBA Annual Technology Citations, CII, and the Economic Times BFSI Exceller Award.

Customer Experience Enhancement

A) Performance

Your Bank ranked 1st in promotion of Doorstep Banking Services for the undermentioned campaigns, promoted by PSB Alliance Private Limited:

Additionally, 70,000 customers were served under 'DSB GHAR GHAR SBI' (an internal campaign) between 15.07.2025 and 30.11.2025.

B) Initiatives

The following initiatives were taken by your Bank to elevate customer experience and reinforce its position as a preferred service provider for diverse customers:

i. Establishment of CRUX

•    'Centre of Excellence for Refinement of User Experience' (CRUX) was set up with effect from 01.04.2025 to smoothen user experience and evaluate products and processes from customers' perspective

•    Observed findings and deficiencies are escalated to concerned business units/departments for remedial measures

ii.    Mentorship Programme

•    In April 2025, the 'Mentorship Programme' was launched for the top 50 branches under each Local Head Office (LHO) receiving the highest number of complaints

•    These branches are mapped to the Deputy General Managers of the LHOs for continuous mentoring and oversight

iii.    Reinforcing Multilingual Support

•    To elevate customer convenience, your Bank has uploaded 28 types of forms in regional languages on its website (sbi.bank.in)

•    The initiative breaks language barriers and provides seamless banking access to customers across regions and cultures

iv.    Evaluating customer experience through incognito

visits

Delivering a superior service experience to our esteemed customers is your Bank's foremost priority. Aligned with this, an external agency was hired to assess the current level of customer service through incognito visits across ~4,000 branches.

•    Prevailing customer experience standards were measured using key metrics such as display of necessary customer-centric information within branches, availability of basic customer amenities, compliance with stipulated accessibility norms etc.

•    The survey has been conducted by the agency and their report is expected shortly

•    The study is likely to provide actionable insights and recommendations to further enhance customer experience

C) Achievements:

I. NPS/CSAT/CES Performance of SBI for FY 2026

In an unwavering commitment to enhancing customer experience, your Bank is adopting new tools and techniques to measure the level of customer experience and satisfaction at various touchpoints. The implementation of Customer Satisfaction Score (CSAT), Net Promoter Score (NPS) and Customer Effort Score (CES) for customers transacting through its Branch channel (SMS mode), BC/CSP channel and Digital channels supports real-time measurement of customer satisfaction and loyalty. Based on the above feedback mechanism, your Bank's performance for FY 2026 is as follows:

II.    Voice of Customer campaign (01.06.2025    -

30.06.2025)

'Voice of Customer, a new campaign, was launched following the introduction of NPS as CDS KRA for the officials working under Retail and Digital Banking businesses. The objective of the campaign was to enhance awareness among Controllers, operating staff and customers and maximise feedback from all branches.

37.93 lakh

Total feedback received

77%

Branches qualified

III.    Townhall Meetings

Townhall meetings serve as an effective engagement platform to enhance customer awareness on various banking products and services, cybersecurity practices, and essential do's and don'ts for digital transactions, among many others.

• Major emphasis on 'Creation of awareness on cyber security to prevent digital frauds'

Operations Department

KYC

Your Bank has implemented a real-time Interactive Voice Response (IVR) mechanism for both existing and newly registered mobile numbers, triggered whenever a request to add or change customer's mobile number is initiated at the branch. The system proactively alerts customers on such changes, thereby strengthening controls and serving as an effective risk mitigation measure against unauthorised modifications in customer account details.

Flag of money mule has been enabled at system level, debarring customers flagged as mule from utilising banking services and digital channels. The flagged accounts are immediately restricted from withdrawing funds from accounts, helping safeguard defrauded money.

BOD

Insurance

Your Bank is procuring insurance policies, covering your Bank's assets and other risks. Insurance coverage includes cash and valuables, properties of the Bank, fraudulent transactions under debit card/electronic banking, and cyber risk, amongst others.

FATC & C-TDS

Your Bank remains committed to complying with FATCA & CRS guidelines. Despite its vast customer base, SBI continues to adhere to the Income Tax statutory guidelines, supporting the government's efforts in curbing tax evasion and contributing to nation-building.

Clearing & Currency Management Department (CCMD)

Your Bank is managing more than 50% of Currency Chests in India (more than 65% in rural/semi-urban areas). It ensures availability of fresh/re-issuable currency notes and coins to whole India under RBI's Clean Note Policy.

The Centralised Cyber Cell (CCC), established in Patna on 15^th January, 2025, is SBI's dedicated 24x7 hub for combating cyber fraud. With over 100 trained officials working in three shifts, the CCC serves as a single point of coordination for managing cybercrime complaints and responding to Law Enforcement Agencies (LEAs), strengthening SBI's frontline defence against digital frauds. Leveraging technology and through seamless coordination with authorities, CCC ensures that customer losses are minimised, confidence in digital banking is enhanced, and SBI remains a trusted partner in safeguarding citizens' money.

Centralised LEA Automated Response System (CLEAR) has been developed for automated handling of LEA indents using AI-ML technology. CLEAR enables accuracy of response and improvement in TAT, while facilitating overall oversight and centralised monitoring of LEA requests.

IAD-COORDINATION

With a major thrust on internal controls and initiatives taken under Quality Assurance, RADAR (Remote Application of Dynamic Assessment of Risk), your Bank has ensured consistent improvement in overall health of the Branches. As on 31.03.2026, 55.68% of your Bank's branches are AA rated, denoting low risk.

RTI

RTI (Right to Information Act 2005), over a period of time, has emerged as a powerful tool for good governance, with proactive disclosure serving as its cornerstone. The act enables citizens to easily access critical information without filing formal requests, thereby fostering transparency and accountability within the ecosystem.

SBI, as a public authority, has made the necessary arrangements to provide information to citizens of India in accordance with the RTI Act, 2005, and proactively disclose information on its site, which is useful to the customers.

Operations Process Re-engineering Project SARAL - Transforming Retail Operating Model

Operations Process Re-engineering (OPR) Department was created to bring transformative changes in retail operation processes and strengthen your Bank's operational resilience. Accordingly, Project 'SARAL' was launched on 31^st July, 2025, with a focus on process simplification, automation, centralisation and selective outsourcing of critical, high-impact retail operations. Future-ready solutions for the identified critical operational processes were launched in phase I in March 2026, with the next phase scheduled for launch in December 2026.

Risk Management

Risk Management at your Bank includes risk identification, risk assessment, risk measurement and risk mitigation with the main objective of minimising any negative impact on profitability and capital.

Your Bank is exposed to various risks that are an inherent part of any banking business, major ones being credit risk, market risk, liquidity risk, and operational risk, including IT risk and third-party risk.

Your Bank is committed towards creating an environment of increased risk awareness at all levels and strives to constantly upgrade controls and security measures, including cyber security measures, to ensure avoidance or mitigation of various risks. With robust policies and procedures, your Bank measures, assesses, monitors, and manages risks systematically across all its portfolios.

An independent Risk Governance Structure, aligned with international best practices, was implemented, in the context of separation of duties and ensuring independence of Risk Measurement, Monitoring and Control functions. Leveraging technology as the key enabler, this framework empowers Business Units at the operating level, enabling identification and management of risk at the point of origination. The Executive Level Committees and Risk Management Committee of the Board (RMCB) monitor and review various risks that your Bank and SBI Group is vulnerable to. Additionally, dedicated Risk Management Committees have been established at Operational and Business unit level for stronger governance.

Credit Risk Mitigation Measures

Robust credit appraisal and risk management frameworks for identifying, measuring, monitoring, and controlling risk in credit exposures have been well-established. The industrial environment is scanned, researched, and analysed in a structured manner by a dedicated team to assess outlook, Credit Rating threshold based on outlook, probability of default for industry, and growth appetite for 37 identified industries and sectors which constitute close to 62% of your Bank's total advances (excluding retail and agriculture) as on 31^st March, 2026.

Events such as government policies, changes in regulatory guidelines, and the impact of geopolitical issues on key industries and the Bank's portfolio are monitored continuously. Special studies are also conducted on various emerging risks, technologies, and trends. These reports are shared with the business groups to enable informed credit decisions. Furthermore, knowledge-sharing sessions and industry

workshops are organised to benefit the operating staff at various levels. Additionally, business units are facilitated with quarterly dashboards, covering top 18 industries and their latest developments.

Your Bank uses various internal Credit Risk Assessment Models and scorecards for assessing borrower-wise credit risk. They are reviewed through cycles of comprehensive validation and back testing frameworks, including external validation and review. Considering the ESG Risk, an ESG Rating Model has been established to rate large borrowers on various ESG criteria.

Your Bank also has in place a 'Dynamic Review of Internal Rating' framework which facilitates early identification of stress and triggers appropriate mitigation mechanisms. Furthermore, an IT platform for credit appraisal processes, enabled by a Retail Loan Management System/Loan Lifecycle Management system (RLMS/LLMS), has been adopted. The models developed by your Bank are hosted on these platforms and are seamlessly integrated with CIBIL/CIC and RBI defaulters' lists.

The pricing of loan products is calibrated with product-level risks and the idiosyncratic risks associated with different types of borrowers. A unique Credit Risk Premium is assigned to each product and individual borrower profile which is further incorporated into the final pricing, ensuring risk-adjusted returns.

Your Bank has established a framework for Risk-Adjusted Return on Capital (RAROC) and the customer-level RAROC calculation has also been digitised. The RAROC framework is applicable for commercial advances having existing or proposed exposures above ?10 crore.

Risk-return analysis of the Corporate and MSME portfolios are conducted at periodical intervals to assess the adequacy of return vis-a-vis exposure-based risks. Studies on select Retail portfolios are further conducted to monitor key trends and shifts in asset quality and portfolio health.

Stress Tests on Credit portfolio are conducted by your Bank on a half-yearly basis and stress scenarios are regularly updated in line with the RBI guidelines, industry best practices and changes in macroeconomic variables.

Market Risk Mitigation Measures

Market Risk is managed through well-defined, Board-approved Investment Policy, Trading Policy, Market Risk Management Policy, Market Risk Limit Policy and Hedging Policy that caps risk across different trading desks or various securities

through trading risk limits/triggers for effective and judicious management of investment funds. These risk measures include position limits, gap limits, tenor restrictions, and sensitivity limits such as PV01, Modified Duration, Convexity, Value-at-Risk (VaR) Limit, Stop Loss Trigger Level, NOOP, Forex Daylight Limit, Options Greeks, AGL/IGL, Equity Price-related Limits etc., and are monitored on a daily basis. Furthermore, the risk limits are reviewed periodically based on the Banks' risk appetite.

Value at Risk (VaR) complements stress testing through an additional quantitative measure of potential losses in Bank's trading positions. Enterprise level VaR of your Bank is calculated and back tested on a daily basis. Similarly, Stressed VaR for Market Risk is also computed daily and is supplemented by a Board-approved Stress Testing Policy and Framework that simulates various Market Risk scenarios to measure stress losses and initiate remedial measures.

The Market Risk Capital Charge of your Bank is computed using Simplified Standardised Approach (SSA) by applying the prescribed regulatory factors.

The Bank undertakes risk-adjusted performance analysis of its domestic and overseas portfolios. It also analyses the credit rating migration of non SLR bonds as a tool for decision-making. Quarterly forward-looking analysis, based on future outlook of Interest Rate Risk scenarios and its probable impact on your Bank's trading portfolio, is also carried out as a prudent risk practice.

Enterprise Risk Mitigation Measures

Enterprise Risk Management aims to establish a comprehensive framework to manage and align risks with strategy at an organisational level. It encourages establishment of a Risk Appetite Framework, Risk Culture Assessment Framework, and Material Risk Assessment Framework, in line with global best practices.

As part of your Bank's vision to reposition risk as a strategic function, a Board-approved Enterprise Risk Management (ERM) Policy is in place. A robust Risk Appetite Framework further guides your Bank on the types and levels of risks it is willing to take.

Your Bank has implemented a framework to assess staff-level risk culture and continuously sensitises its employees on risk management through training, annual surveys, assessment groups, encouraging active risk identification and reporting, promoting risk reporting, whistleblowing etc.

As part of the Material Risk Assessment Framework, periodic analysis of risk-based parameters for Credit Risk, Market Risk, Operational Risk, Liquidity Risk and Pillar II risks amongst others is carried out.

Your Bank has a wide range of models used for decision-making, pricing, and regulatory reporting. Model risk arising from the use of these models is mitigated through best industry practices at every stage of the model lifecycle, including:

(a)    Governance, Policies, and Controls,

(b)    Development, Implementation, and Use, and

(c)    Validation (both Internal and External).

Your Bank conducts an annual Internal Capital Adequacy Assessment Process (ICAAP) to monitor the adequacy of Capital under normal and stressed conditions, at solo and group level. This involves assessment of Pillar 1 risks such as Credit Risk, Market Risk and Operational Risk, as well as evaluation of Pillar 2 Risks such as Liquidity Risk, Interest Rate Risk in Banking Book (IRRBB), Concentration Risk and others, while capital is provided where required. New and emerging risks are also identified and discussed as part of ICAAP.

An integrated stress testing framework covering identified material risks has been established, considering simultaneous occurrence of multiple shocks under multiple risk areas, along with forward-looking shock scenarios, taking into account the impact of macroeconomic variables.

Furthermore, your Bank provides Risk advisory for various products and processes to ensure risk-return trade off.

Climate Risk

The Bank is strengthening its resilience against emerging climate risks through a comprehensive risk management framework.

It has established the Climate Change Risk Management Committee to provide strategic guidance and oversight, along with a Climate Change Risk Management Policy to mitigate risks and leverage growth opportunities.

The Bank is developing climate risk methodologies in line with regulatory expectations and its climate aspirations. It has also assessed physical risks across branches, offices, and ATMs to enhance business continuity and operational resilience.

Continuous capacity building and training on climate risk are undertaken through the Strategic Training Unit.

Group Risk Mitigation Measures

Group Risk Management aims to establish standardised risk management processes across group entities. Policies relating to Group Risk Management, Group Risk Appetite framework, Group ICAAP, Group Liquidity and Contingency Funding Plan (CFP), maintaining arm's-length requirements for intra group transactions and exposures are in place. Regular monitoring of consolidated prudential exposures and group risk components is also being ensured.

^ y~) Operational Risk Mitigation Measures

Operational Risk is the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events. A stepwise process has been established for managing such Operational Risks, involving Identification, Impact Assessment, Monitoring & Reporting, and Implementation of Preventive and Detective Controls. Key elements of your Bank's Operational Risk Management, among others, include timely Incident reporting and ongoing review of Systems and Controls, measuring of residual risk and putting in place controls through Risk & Control Self-Assessment (RCSA), Theme-based RCSA, monitoring of Key Risk Indicators (KRIs), and aligning Risk Management activities with Business Strategy. Root Cause Analysis (RCA) of the probable vulnerabilities is proactively undertaken and gaps are closed on an ongoing basis with the aim to strengthen controls, mitigate risk and minimise losses.

The capital for Operational Risk has been allocated as per Basic Indicator Approach (BIA).

A detailed Business Continuity and Operational Resilience (BC&OR) Plan is in place to ensure continuity of operations within Branches and Offices. BC&OR also safeguards your Bank against business disruption during natural disasters and ensures unhindered availability of ATMs and smooth functioning of Net Banking, YONO, Mobile Banking etc.

A Third Party Risk Management Framework and Portal assesses the risk associated with Third Parties. Built in accordance with RBIs master directions on outsourcing, it evaluates ten types of risks, is applicable to Financial and IT outsourcing, and covers subcontractors up to "n^th" level. A comprehensive guideline for Concentration risk threshold is also established. Third-party risk assessment is continuously done and its results are submitted for review to the Risk Management Committee on a half-yearly basis.

Risk Awareness Day is observed on 1^st September every year to improve internal risk culture within your Bank. As part of employee-sensitisation and risk-awareness initiative, a Risk

Awareness Day pledge is administered and an online Quiz is conducted on the day. Risk culture is further enhanced through several workshops, monthly magazine and training at all levels.

Basel Implementation

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Your Bank is fully compliant with the RBI Guidelines on Basel III Capital Regulations and has implemented various mechanisms, such as Internal Audit and outreach programs, to ensure alignment with the regulatory instructions. The Bank is adequately capitalised as per current regulatory requirements, including maintaining the required level of Capital Conservation Buffer (CCB).

Your Bank is identified as D-SIB by the Regulator and is accordingly required to keep additional Common Equity Tier 1 (CET1) of 0.80% of RWAs from 1^st April, 2025. As a part of D-SIB requirements, your Bank is comfortably placed against the mandated requirement of 4% for Leverage ratio.

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Model Validation

Your Bank constitutes a Model Validation unit that operates as an independent function, responsible for validating models of the Bank. Validation is carried out using a risk-based tiering framework under which models are classified, based on Materiality and Complexity, with the frequency aligned to the assigned tier. The framework ensures model robustness, regulatory compliance and strong governance in Model Risk Management.

Fraud Prevention & Monitoring

Your Bank has a robust Fraud Prevention and Monitoring framework aimed at prevention, early detection, investigation, timely reporting, monitoring and effective resolution of frauds, while safeguarding consumers interest. A Board-approved Fraud Risk Management Policy guides governance, accountability, investigation, recovery, and Root Cause Analysis.

Under the Fraud Risk Management Policy, a robust and resilient framework for Early Warning Signals (EWS) and Red Flagging of Accounts (RFA) for Credit Facilities / Loan Accounts and EWS Framework for other banking / non-credit related transactions is in place, enabling early detection and prevention of frauds. Advanced fraud detecting and monitoring tools, leveraging analytics, are also deployed for generation and handling of alerts.

Prompt reporting to regulators and law enforcement agencies is ensured in compliance with the regulatory guidelines. The Bank continuously strengthens its internal controls based on fraud trends and RCA findings. Additionally, employee sensitisation, training and awareness programs reinforce a strong risk culture.

Proactive Risk Management Department (PRMD)

PRMD adheres to an advanced and adaptive security posture, underpinned by AI-driven Intelligence Platforms and Risk Profiling, for proactive risk identification and mitigation. Digital transactions are continuously monitored through a risk-tiered framework, governed by dynamic rules, that adapt in real-time to evolving threat vectors and anomalies.

Your Bank has enhanced its transaction monitoring capabilities by integrating credit transactions and incorporating emerging digital channels, including CBDC and CMP platforms, and risk management across the digital ecosystem.

^{IT Risk}

Your Bank has devised a well-structured IT Risk Management Policy and Procedure featuring a comprehensive set of processes to manage and mitigate IT-related risks. External Loss Data events are analysed to assess the Bank's preparedness, in view of the incidents reported by external organisations.

i'

Information Security Department

The Bank conducts threat intelligence-driven Red Team exercises, aligned with globally recognised frameworks, including MITRE ATT&CK, OWASP, CWE, and SANS, to simulate real-world cyberattacks and test security controls and detection capabilities.

The Incident Response (IR) function enables customers and employees to report phishing and cyber incidents through a dedicated reporting mechanism, significantly reducing potential financial and reputational risks. Advanced security solutions and continuous monitoring frameworks safeguard the Bank's digital ecosystem, ensuring operational resilience, regulatory compliance, and uninterrupted banking services.

The Bank operates a 24x7 Security Operations Centre (SOC) to continuously monitor systems, detect threats, and respond to incidents, ensuring protection of customer data, business continuity, and brand trust. The SOC is being transformed into an AI/ML-enabled Integrated Cyber Defence Centre (ICDC), unifying Security Operations, Incident Response, and Cyber Security functions, in line with global best practices. This strategic initiative will enhance early threat detection, response efficiency, and operational stability against emerging cyber threats.

Aligned with the Viksit Bharat mission, the Bank is establishing a Cyber Security Centre of Excellence (CSCoE) to strengthen cybersecurity capabilities, governance, innovation, and awareness. The CSCoE will drive advanced threat intelligence, foster a strong cybersecurity culture, collaborate with industry, academia, and regulators, and contribute to the broader BFSI ecosystem. Operationalisation activities are currently underway.

During the year, the Bank strengthened its security posture by implementing an enterprise-wide automated Secure Configuration Monitoring System covering over 85,000 IT assets, thereby improving operational resilience and regulatory compliance.

In recognition of these efforts, the Information Security Department received the following awards on behalf of the Bank during 2025:

•    IBA 2025    - 2nd Prize for Cyber Security

Compliance Champion

•    IBA 2025 - 3rd Prize for Cyber Security Team of the Year

Internal Audit and Control

Internal Audit

The Internal Audit Department (IAD) is an independent and integral part of the Bank's governance and internal control framework, headed by the Deputy Managing Director and functioning under the oversight of the Audit Committee of the Board.

IAD: Key functions

•    Operates as a risk-based audit function, conducting systematic and objective based evaluations of the Bank's Risk Management, Internal Controls, Compliance and Governance Mechanisms

•    Closely coordinates with the Risk Management and Compliance functions to assess control effectiveness, ensure adherence to internal policies and external regulatory requirements, and promote a culture of continuous improvement and accountability

•    Aligned with global best practices and regulatory expectations

IAD: Core Audit Activities

IAD undertakes a comprehensive range of audit activities covering multiple audit streams such as:

Risk Focussed Internal Audit (RFIA) : Risk-based audits are conducted for

•    Domestic branches

•    Processing centres

•    Wealth management units

•    Special outfits

•    All Corporate Centre departments

Risk Focussed Credit Audit (RFCA) :

•    Undertaken for credit portfolios and high-value loan exposures exceeding ?20 crore

•    Emphasis is on credit-risk management and portfolio quality

Awards & Recognitions

We are proud to be conferred with the following awards by Institute of Internal Auditors (IIA), India:

•    IIA India National Excellence Award 2026 - Award Category - Future-Ready Audit Function.

•    Award for Digital Transformation & Innovation in Audit (IIA, Bombay Chapter).

•    Agraj Dridha Award for Excellence in Internal Audit (IIA, Bombay Chapter).

IAD: Key Initiatives

Multiple enhancements in the RFIA framework and the associated risk assessment methodology is underway to enable a more holistic, robust and forward-looking evaluation of risks.

a)    Formation of an Integrated IT & Digital Audit Unit (IDAU) to address emerging IT, Cyber and Digital Risks.

b)    Adopting AI/ML modes for continuous monitoring and analysis of forex transactions in branches.

c)    Building professional competencies through external skill acquisition, specialised training modules and knowledge-sharing sessions with industry peers and external experts.

d)    100% Offsite FEMA Audit of Global Trade Finance Centres (GTFCs).

e)    Offsite Audit Capacity Enhancement through digitisation / digitalisation of processes under 'Stationary Auditors' Hub' Model at CAOs.

Compliance Risk Management

Your Bank remains committed to maintaining the highest standards of regulatory compliance, integrity and transparency, in line with industry best practices.

The Compliance function plays a proactive advisory role, ensuring that the growth initiatives are aligned with regulatory expectations and prudent risk management practices. Focus is placed on strengthening compliance awareness across all levels through structured training programmes, mandatory compliance certifications, targeted workshops and webinars etc. Decentralisation of the function, supported by a dedicated workforce for grassroots compliance monitoring, further ensures effective oversight across multiple banking channels.

Sustained implementation of latest technologies across key processes is playing a key role in reinforcing organisation-wide compliance. The AI/ML model assists in quick identification of suspicious cases, optimising

alert management. Additionally, deployment of ML / TF techniques in the AML space are minimising money mules and cyber-enabled frauds. Key emphasis is also being laid on achieving greater automation, using analytics for surveillance and exception detection, and leveraging AI for regulatory change management

Your Bank maintains a strong oversight and has geared up for implementing the necessary controls in line with the India's Digital Personal Data Protection Act, 2023 (DPDPA) and the Digital Personal Data Protection Rules, 2025 (DPDPR).

Green Building Certification:

Green building certification achieved for 53 additional buildings in FY 2025-26, taking the total to 117 green buildings across the country. (Annexure-I)

Green Power Procurement:

Transitioned 302 additional buildings/service connections to green power this year, taking the total to 361 buildings/service connections powered by renewable energy. The transition offsets approximately 4.41 crore units of electricity annually. (Annexure-II)

Rooftop Solar Leadership:

In line with the DFS guidelines, rooftop solar panels have been installed across 831 buildings so far, exceeding the identified 808 owned buildings, with a cumulative capacity of 23.44 MWp. SBI ranks #1 among all PSUs and financial institutions in rooftop solar adoption. (Annexure-III)

1

   ATM at Nathula Pass, Indo-China Border (Sikkim), at an altitude of ~14,140 feet above sea level

•    ATM lobbies located at tea gardens of northeastern states

•    Installations across the Andaman & Nicobar Islands and Lakshadweep

•    Floating ATM at Dal Lake, Srinagar

Additionally, deployment of Mobile ATMs and ADWMs ensure uninterrupted banking services during emergencies and natural calamities such as floods, cyclones, and lockdowns. Such facilities are also deployed across high demand locations including army units, housing societies, government offices, IT tech parks, and market areas (for cash deposits), further

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