SBI Corporate Banking

State Bank of India is India’s largest bank with a network of more than 15,000 branches and 5 associated banks located even in the remotest parts of India. State Bank of India (SBI) offers corporate and retail customers a wide range of banking products and services. Internet banking facilitates banking round the clock. When it comes to corporate customers (non-individual customers), distinguished features are required depending on the type of corporate entities.

SBI Corporate Banking is a channel that enables corporate customers (non-individual customers such as companies, trusts, partnerships, proprietorships, etc.) to carry out online banking activities anywhere and anytime. The different types of SBI Corporate Banking accounts are SBI Khata, SBI Khata Plus, SBI Saral, SBI Vyapaar and SBI Vistaar.

OnlineSBI is the State Bank of India’s internet banking portal. The portal provides online access to State Bank of India’s retail and corporate accounts anywhere, anytime. The application is developed using the latest technologies and tools. The infrastructure supports unified and secure access to banking services for accounts in more than 15,000 branches across India.

The OnlineSBI corporate banking application provides features for managing and using corporate accounts online. The corporate module includes roles such as regulator, admin, uploader, transaction maker, authorizer, and auditor. These roles have access to the following functions:

Tasks done through Online SBI Corporate Banking

Manage users, define rights and transaction rules for corporate accounts.

One can access accounts in several branches with a single sign-on mechanism.

Customers can upload files for bulk transactions to third parties, suppliers, sellers and tax collection authorities.

Customers can make use of online transactional features such as the transfer of funds to own accounts, payments by third parties (both inter and intrabank) and draft issues.

Corporate customers can make bill payments over the internet.

Authorize, modify, reschedule and cancel transactions based on the rights assigned to the user.

Customers can generate account statement and request transaction details or current balance through OnlineSBI.

Also read: Top 10 Credit Cards in India

SBI Khata

The user gets an advantage over others; benefit from accessing your 24X7 accounts. Khata allows one to access their account information anywhere. This facility is available at all branches of State Bank of India. Advantages of Khata:

1. Account enquiry rights.
2. Facility to view account information and download the account statement.
3. Suitable for single user operated accounts.

SBI Khata Plus

The user gets an advantage over others; benefit from accessing your 24X7 accounts. Khata allows one to access their account information anywhere. This facility is available at all branches of State Bank of India. Advantages of Khata:

1. Account enquiry rights.
2. Facility to view and download the account statement of your accounts maintained in any SBI branch.
3. All authorized users of the company get a complete view of the information.

SBI Saral

It’s a single user operated, user friendly and easy product of SBI Corporate Banking designed especially for Micro, Small and Medium Enterprises (MSME).

SBI Vyapaar

• Exercise the privilege of transacting over the internet, making cyber payments, conducting business in style.
• One can equip with Vyapaar and facilitate business needs.

SBI Vistaar

• Freedom to operate the business in any geographical location from wherever the customers want.
• Freedom from any situation to take urgent financial decisions.
• Freedom to empower the people to conduct business in a modern way within the framework lay down by them.

Freedom from branch dependence. Vistaar offers an all-round business solution online.

Saral is a simplified single-user transaction product ideally suited for sole proprietorship, micro-enterprises or individual businessmen who require online transaction facility in their company’s accounts. The product provides the user with transaction rights involving the transfer of funds to own or third party accounts up to a limit of Rs. 5 lakhs per day.

Features of SBI Saral

Single user operated and easy to use.

Facility to view account information and download account statement.

Account rights.

Facility to schedule transactions for a later date.

Facility to set recipient level limits.

Facility to set separate DD request and tax transaction limits.

SMS-based OTP for Beneficiary Additions, Fund Transfers, Merchant Transactions, etc.

OnlineSBI can generate a date range account statement for any of your accounts. The statement includes transaction details, opening and closing and accumulated balance in the account.

• OnlineSBI allows customers to issue Demand Drafts/Banker’s Cheque online. The customer has the option of collecting the DD/BC from the branch or giving his mandate to send the DD/BC directly to the beneficiary by courier.
• Direct debit is a facility given to companies (suppliers) that have Vistaar facilities and supply goods to their dealers (dealers do not need INB facilities), whereby the company (supplier) can directly debit their dealers’ accounts maintained at SBI branches at different locations.
• If customers have an ERP system, ERP systems have built-in security features. To securely transfer the file from the ERP system to the OnlineSBI system, SBI provides the following facilities:

1. Upload of Encrypted file: Customers can use their own encryption logic to encrypt the file, or SBI can provide the same. It supports both symmetric and asymmetric encryption (Digital Certificates).
2. Automation of the file uploads from customer ERP to SBI SFTP Server: Seamless file transfer between Corporate ERP system and SBI server will be done through Secured File Transfer Protocol using SFTP client. SBI will install SFTP client on the corporate gateway server. The corporate entity can set scheduler to manage the frequency of push and pull files to and from the SBI server.

• Corporate Internet Banking allows one to look into their Corporate Demat accounts online. One can view the account details and generate the following online statements:

1. Statement of ownership
2. Statement of transactions
3. Statement of billing

• SBI’s working finance products include a spectrum of funded and non-funded facilities ranging from cash loans to structured loans to meet the different demands of all segments of industry, trade and services.

Who can apply for CINB?

For the purposes of corporate internet banking, any non-individual customer, whether a single person, a small business, a company, a trust, an institution, a government organization or a large conglomerate, is treated as a corporation. Any company maintaining an account with any branch of the State Bank of India may use CINB.

How to access CINB?

• One can visit SBI’s online banking site at onlinesbi.com.
• Then click on the “Corporate Banking” tab to land on the CINB home page.