The country’s largest bank, the State Bank of India (SBI), stated on Tuesday that it currently contributes 1.1% of the world’s GDP and 16% of India’s GDP. The bank also stated that it now owns more than 25% of the implementation of all government-sponsored social security programs.

SBI has established 15 crore accounts under the Pradhan Mantri Jan-Dhan Yojana (PMJDY), enrolled 14.6 crore through the Pradhan Mantri Suraksha Bima Yojana (PMSBY), 6.7 crore through the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), and 1.73 crore through the Atal Pension Yojana (APY).

According to the report, the bank contributed 2.53% of corporate income tax (AY26) and made about 40% of the earnings of all public sector banks (PSBs) in FY25.

“With over 52 crore clients, SBI is the third most populated nation on Earth and has a greater customer base than the United States of America. According to figures released by the bank, the size of SBI’s balance sheet exceeds the GDP of 175 nations.

In its 70th year of existence, the largest financial institution in the country has seen its balance sheet climb to Rs 66 lakh crore.

According to the bank, 8.8 crore people have registered for the SBI YONO app, and the number is still rising, placing SBI as the 18th most populated country in terms of YONO users.

As the SBI marks 70 years of service to the country, Finance Minister Nirmala Sitharaman praised the organization.

With more than 23,000 branches, 78,000 CSPs, and 64,000 ATMs, SBI has a significant presence today and is indeed the banker of all Indians. “Its customers have benefited greatly from the digital transformation it has accomplished over the past ten years,” she wrote in a post on social networking site X.

According to the Finance Minister, the SBI has also played a significant role in helping 1.5 crore farmers, 1.3 crore women-led Self-Help Groups (SHGs), 32 lakh street vendors under PM SVANidhi, 23 lakh MSMEs, and lakhs of craftsmen through a variety of programs.

The top asset management firm in India, SBI Mutual Fund, announced the release of SBIMF SmartAssist, an AI-powered chatbot accessible on WhatsApp, on Tuesday.

Through a straightforward, WhatsApp chat-based interface, SmartAssist assists users in learning about mutual funds, investing, and portfolio management, with the goal of streamlining every step of the mutual fund journey.

“We are bringing the power of AI straight to our investors with the debut of SmartAssist, our AI-powered WhatsApp chatbot, which will make investing in mutual funds easier and more accessible. Nand Kishore, MD and CEO of SBI Mutual Fund, stated, “This is a major step in our journey to improve investor experience and adopt tech for growth and efficiency.“