SBI to set up country’s largest innovation centre
The nations largest lender State Bank of India is creating a 15,000-sqft innovation centre in Navi Mumbai investing around Rs 100 crore.
The centre, to be built at its Global IT Centre in Belapur in Navi Mumbai, will be the largest innovation centre by any financial services company in the country,
it will be a 15,000-sqft centre that will have 40 dedicated zones for each technology like blockchain, artificial intelligence and machine learning, among others.
The innovation centre is part of a Rs 200-crore allocation that the bank has earmarked for innovation last year,
Apart from the proposed innovation centre, Rs 50 crore is allocated for procurements from innovative startups and taking equity stakes in new companies, while the remaining Rs 50 crore is for other needs like software procurements etc, Baraokar said.
At present, the bank has a dozen-member strong innovation team which will go up to over 30 once the centre is launched.