JOINT VENTURES

The Bank has the following Joint Ventures in India:

The Bank has the following Joint Ventures in India:
1. SBI Life Insurance Company Ltd (SBI LIFE)

SBI Life Insurance is a joint venture between State Bank of India and BNP Paribas Cardif. SBI owns 74% of the total capital and BNP Paribas Cardif the remaining 26%. SBI Life Insurance has an authorized capital of Rs. 2,000 crores and a paid up capital of Rs 1,000 crores.

State Bank Group has the unrivalled strength of over 18,000 branches across the country, arguably the largest in the world.

BNP Paribas Cardif is the life and property & casualty insurance arm of BNP Paribas, one of the strongest banks in the world. BNP Paribas Group, having presence in more than 80 countries ranks highly in Retail Banking, Investment Solutions and Corporate & Investment Banking. BNP Paribas Cardif is one of the world leaders in creditor insurance and its life and non-life insurance units have received an AA rating from Standard & Poor's.

SBI Life has a unique multi-distribution model encompassing vibrant Bancassurance, Retail Agency, Institutional Alliance and Corporate Solutions distribution channels.

SBI Life extensively leverages the State Bank Group relationship as a platform for cross-selling insurance products along with its numerous banking product packages such as housing loans and personal loans. SBI's access to over 100 million accounts across the country provides a vibrant base for insurance penetration across every region and economic strata in the country, thus ensuring true financial inclusion. Agency Channel, comprising of the most productive force of over 80,000 Insurance Advisors, offers door to door insurance solutions to customers

Awards and Recognition in FY 2013-14:

1. Most Trusted Private Life Insurance Brand 2013 by The Economic Times, Brand Equity and Nielsen Survey
Most Trusted Brand identifies brand which posses the most special ingredient - the Consumer's Trust.

2. Best Life Insurance Provider 2013 - Runner Up by Outlook Money
The Outlook Money Awards recognise excellence in Financial Services.

3. SBI Life won following awards at the Indian Insurance Awards 2013:
Under-served Market Penetration Award 2013 (Private Sector): SBI Life won this award for being pro-active in terms of reaching out tocustomers in relatively under-penetrated states and regions in India.

Claims Service Company of the Year Award 2013 (Private Sector):
SBI Life has demonstrated effective and speedy claims settlement whilemaintaining high levels of client service, satisfaction and focus in handling claims in FY 2012-13, setting up a benchmark for the industry to

SBI Life won Global Performance Excellence Award 2013 by Asia Pacific Quality Organisation (APQO)
SBI Life has achieved a unique distinction by featuring amongst the nine organisations from six Asian and Pacific Rim Countries to be recognisedas exemplary companies of world class quality performance.

5. Won Digital Inclusion Skoch Awards 2013
SBI Life received the award for the project - Enabling partners to collect premium through Electronic Fund Transfer - Cash & Direct Debit. Theaward recognises best practices in the fields of governance, finance, banking, technology, corporate citizenship, economics and inclusive growth.

6. Won Communication Excellence Award 2013 at 4th CMO Asia Awards
Represented by 25 countries across Asia, CMO Asia Awards recognises organisations for displaying leadership in strategic communicationcombined with consistent innovation.

7. BFSI (Banking Financial Services and Insurance) 2014 Awards:

• 'The Most Admired Life Insurance Company in the Private Sector'

• 'The Best Life Insurance Company in the Private Sector' The BFSI Award recognises the best performances of various Banking, Finance and Insurance Services. The award focuses on best of the bestpractices of the BFSI industry based on the strategy, security, customer service and the future technology challenges and innovations.

8. SBI Life recognised amongst Top-50 Great Places to Work
SBI Life was ranked 36th amongst Great Places to work in India. India's Best Companies to Work for Study 2013, the largest study in the countryon workplace culture, attracted participation from around 550 organisations spanning across 22 industries.

9. Awards at the World HRD Congress:
• ‘Dream Company To Work For 2014 in Private Insurance ‘
• ‘Dream Employer of the Year 2014' - Ranked 4th
• ‘Employer Branding Award 2014' for Talent Management
World HRD Congress is the largest rendezvous of HR Professionals from across the world. It recognizes the organisations with best HR Practicesacross the globe.

10. Won the "Training Provider of the Year" Award at Asia's Training & Development Excellence Awards 2013
The award is conferred by World HRD Congress and endorsed by Asian Confederation of Business

For more information, Please visit : www.sbilife.co.in

2. SBI General Insurance Company Limited

SBI General Insurance Company Limited is a joint venture between the State Bank of India and Insurance Australia Group (IAG). SBI owns 74% of the total capital and IAG the remaining 26%.

Insurance Australia Group (IAG) is a general insurance group with operations in Australia, New Zealand and Asia. IAG's businesses underwrite approaching A$10 billion of premium per annum and employ over 13,500 people.

IAG is an ASX top 30 company with a market capitalisation in excess of A$12 billion.

  • IAG has been assigned a 'Very Strong' Insurer Financial Strength Rating of 'AA-' by Standard & Poor's for its key wholly owned insurance companies.

  • IAG is ranked in the Dow Jones Sustainability Index.

SBI General closed the financial year 2013-14 (4th year of operation) with a Gross Written Premium of Rs.1188Crores registering a growth of 54 %. During the year 2013-14, SBI General in association with State Bank of India covered over 1.54Crores Saving Bank Account holders of SBI with a Personal Accident Insurance cover worth Rs.2/4 Lakhs. SBI General has also established its presence in nearly 14,000 Branches of State Bank of India. SBI General follows a robust multi-distribution model encompassing Bancassurance, Agency, Broking& Retail Direct Channels. Today, SBI General's Distribution family includes over 9,400 IRDA certified SBI & its Associate Bank employees and over 3,200 Agents.

SBI General's current geographical coverage extends to 56 cities pan India and plans to extend this reach to 107 offices by the end of the current financial year. SBI General is currently serving three key customer segments i.e. Retail Segment (catering to Individual & Families), Corporate Segment (catering mid to large size Companies) and SME Segment. In a short span, SBI General has emerged as one of the few General Insurance companies in India to have a dedicated SME Team catering exclusively to the needs of SME Segment.

Current Policy offering of SBI General covers Motor, Health, Personal Accident & Home Insurance for Individuals and Aviation, Fire, Marine, Package, Construction & Engineering, Liability, Group Health, Group Personal Accident & Miscellaneous Insurance for Businesses.

About Insurance Australia Group
Key Recognition:

For more information, Please visit http://www.sbigeneral.in

  • The company was awarded Technology Maturity General Insurance Award for FY 13 organised by Fintelekt, a media group focused on banking and insurance

  • Insurance Information Bureau (IIB), an independent body promoted by IRDA announced Data quality results for FY 13. The company had highest scores on Fire and Motor data in the industry.

  • Runners up in Data Quality Asia Pacific Award 2013 during Data Congress held at Melbourne, Australia in March 2014 conducted by The International Association for Information and Data Quality (IAIDQ), a professional society of experts interested in promoting information and data quality.

3. SBI-SG Global Securities Services Private Limited(SBISGGSS)

3. SBI-SG Global Securities Services Private Limited

SBI-SG Global Securities Services Pvt. Ltd (SBISGGSS), is a joint venture between State Bank of India (SBI) and SocieteGenerale Securities Services (SGSS). This Joint venture has been set up to offer high quality Custody Services, Fund Accounting & Fund Administration, Risk Analysis & Performance Measurement and Registrar & Transfer Agency Services to domestic investors like Financial Institutions, Mutual Funds, Insurance Companies, Pension Funds, Portfolio Management Services, Private Banks, Corporates, Brokers and overseas investors like Global Custodians or Foreign Institutional Investors in the Indian Securities Market.

The joint venture is leveraging SBIs strength in the Indian financial sector and SGSS is contributing its recognized experience and best practices as one of the leading global custodians providing securities services across 80 countries world wide

It is a state-of-the art service delivery with total focus on rendering world class service to all the major players in the Securities Industry in India

SBI-SG GSS is a provider of custody services and our services enable clients to effectively manage the administration of their investments.

In the area of Custody and Clearing we offer highest standards in terms of technology and processes, as well as a level of expertise, quality and consistency that is unmatched. Additionally, the market knowledge and relationships enabled by the wide spread presence of the promoters has placed SBI-SG GSS in a position to develop new industry solutions and help lead the process of change in the securities marketplace.

Scalable Trade Settlement with highest levels of Straight-Through Processing (STP)

Full Investment Support that includes:

  • Comprehensive support for subscriptions to Initial Public Offerings/Follow-on Public Offerings (IPO/FPO)

  • Processing of instructions to exercise warrants

  • Support for subscriptions to mutual funds, money market funds, listed open-end and exchange-traded funds

  • Robust corporate actions functionality, leveraging system enhancements

  • Careful monitoring of announcement sources

  • Timely and accurate notification as well as agenda items

Market Information :We can blend traditional global custody services with domestic direct custody access to markets, to meet comprehensive and most complex custodial needs, including:

Safekeeping and settlement : Our high STP rates ensure that trades settle with a minimum of manual intervention.

Income processing and corporate actions : We provide information to help clients manage their cash assets effectively and maximize their investment returns.

Record keeping and reporting : Our reports give critical information on securities and cash positions, along with transaction status.

Technological sophistication We have an advanced IT infrastructure which enables seamless processing with thorough operational controls.

Fund Accounting Services

SBI-SG GSS is a provider of customized Fund Accounting and Administration solutions. The various types of Scheme handled includes Equity , Debt, Liquid , Balance , Arbitrage , Gilt, Exchange Traded Funds and Offshore Funds with Dividend - Payout and Reinvestment & Growth option. We have a fully integrated fund accounting web based application compatible with most of the software being used by the clients for providing a very high level of straight through processing (STP).

We offer full range of Fund Accounting services for Investment Players, such as Mutual Funds, Insurance Companies, Pension Funds and Portfolio Management Services. Our Fund Accounting Services include :

NAV CALCULATION & REPORTING
  • Book keeping for all transactions

  • Valuation of all types of securities

  • Income & expenses accounting

  • Updating NAVs on various Forums

ADMINISTRATION
  • Investment Policy Monitoring

  • Reconciliations

  • Distributable surplus computation

COMPREHENSIVE REPORTING
  • Exclusive Fund Manager Reports

  • Regulatory & Compliance Monitoring Reports -

  • Monthly compliance Report

  • Deployment of Fund report ( Debt & Equity )

  • Load Balance report

  • Half Yearly Report

  • Annual Accounts -

  • Scheme-wise Annual Financial Statement preparations

  • Providing necessary accounting records and work paper schedules for the Clients annual audit

RISK ANALYSIS & PERFORMANCE MEASUREMENT

Providing necessary reports including - Regulatory & Statutory Reports

For more information, Please visit www.sbisgcsl.co.in