State Bank of India Sanctions Rs 10,050 Crores for Thermal Power Project in Jharkhand
The State Bank of India (SBI) has sanctioned Rs 10,050 crores to the Damodar Valley Corporation (DVC) for an Ultra Super Critical Thermal Power Project of 1600 MW to be set up in Koderma, Jharkhand. This project has been identified by the Ministry of Power as one of the projects for capacity addition by 2030.
SBI, the largest commercial bank in India, is also one of the largest mortgage lenders in the country. It has fulfilled the home buying dreams of around 30 lakh Indian families and has a home loan portfolio exceeding Rs. 7.39 lakh crore.
As of June 2024, SBI has a deposit base of over Rs. 49.01 lakh crore and advances of more than Rs. 38.12 lakh crore. It commands a market share of 26.3% and 19.6% in home loans and auto loans, respectively.
SBI boasts the largest network of branches and ATMs in India, with over 22,500 branches, 62,000+ ATMs/ADWMs, and close to 83,000 BC outlets. The bank also has a strong digital presence, with 128 million customers using internet banking and 274 million using mobile banking.
SBI's digital strategy is on track, with 63% of new savings accounts being opened through the YONO platform in Q1FY25. YONO, which has over 7.76 crore registered users, witnessed 34.9 lakh new registrations in Q1 2025.
SBI also disbursed pre-approved personal loans worth Rs. 1,399 crores through YONO during Q1 FY25. The bank has the highest number of followers on Facebook and X amongst all banks worldwide.