Digital Transformation and Financial Inclusion:

A Case Study of State Bank of India

Abstract

The State Bank of India (SBI), one of the biggest and oldest commercial banks in India, has launched several digital transformation efforts that are the subject of this paper’s in-depth research. In a time of accelerating technological change and shifting consumer tastes, SBI has set out on a mission to modernize its business practices and promote financial inclusion. In order to shed light on how SBI’s digital transformation efforts have affected the bank’s competitiveness, customer experience, and socioeconomic inclusion, this paper examines the methods, difficulties, and results of such efforts. The article examines significant digital projects like mobile banking, online account opening, and biometric authentication by combining qualitative and quantitative data sources, including interviews, surveys, and financial reports. It also evaluates how government regulations and policies have influenced SBI’s journey toward digital transformation. The results show that SBI’s digital transformation has not only enhanced operational effectiveness and customer service but has also been essential in providing financial services to people in remote locations. Additionally, this study provides insightful information for other financial organizations, politicians, and scholars who wish to comprehend how digitalization affects financial inclusion and sustainable development.