Functions of SBI

STATE BANK OF INDIA - FUNCTIONS AND DUTIES

STATE BANK OF INDIA POWERS AND DUTIES OF ITS OFFICERS AND EMPLOYEES.

All the officers have certain financial powers and administrative powers depending upon their positions. The delegation of financial powers of various grades of officials is decided by the Central Board which are revised from time to time, depending upon the organization's requirement and also Government / RBI guidelines. The concerned sanctioning authority takes a decision to sanction a loan or otherwise on merits of each proposal.

THE PROCEDURE FOLLOWED IN THE DECISION MAKING PROCESS, INCLUDING CHANNELS OF SUPERVISION AND ACCOUNTABILITY IN STATE BANK OF INDIA.

There is a well defined system in the Bank regarding the decision making process.Financial decisions are taken at various levels by different officials depending upon their positions and also through committee approach.Centralized credit processing cells are being formed at certain centres for sanction of personal segment loans and loans under SIB segment.Branches will source the applications and forward them to the respective credit processing cells, for their consideration. Further, there is a well defined organisational structure and a clear system of accountability and control system, which also takeinto account the RBI / CVC guidelines.

THE NORMS SET BY THE STATE BANK OF INDIA FOR THE DISCHARGE OF ITS FUNCTIONS.

The Bank functions with the following core values / norms:

• Excellence in customer service
• Profit orientation
• Fairness in all dealing and relations
• Risk taking and innovation
• Integrity
• Transparency and discipline in policies and systems

Regarding the core functions of the Bank i.e. accepting deposits and sanction of loans,the interest rates for deposits / advances and different deposit as well as loan products, are displayed in the Bank's website and also made available at all the Branches.

Regarding sanction of loans, each officer of the Bank will consider loan proposals and take a decision in terms of the scheme of delegation of powers, on the merits of the proposals. All the officers of the Bank are expected to discharge their duties and responsibilities with integrity and due diligence.