SBI installs software to ‘know’ customer

State Bank of India has installed a software to keep a tab on accounts suspected to have links with terrorist organisations, following a Reserve Bank of India directive. “A system has been put in place on the instructions of RBI. We have installed a software to identify and to follow the know your customer guidelines…,” SBI chairman A.K. Purwar told reporters here. He said all accounts were being monitored as per KYC guidelines. Mechanisms were in place for implementing the RBI note.

SBI ties up with IRCTC for ‘E-rail’

BANGALORE: State Bank of India has tied up with Indian Railway Catering and Tourism Corporation (IRCTC) to launch its new product ‘E-rail’, through which SBI customers can book rail tickets instantly. The tickets will be delivered to their doorstep in 48 hours. “Customers can debit their funds directly from a SBI account and book train tickets instantly. We are starting with the largest network of 500 branches in 70 towns in the country,” SBI chairman A.K. Purwar said.