The State Bank of India (SBI) has announced that it will roll out a single-window Know Your Customer (KYC) process across all its products and services by the end of March 2026.
According to SBI Chairman C.S. Setty, the bank currently runs around 15 different e-KYC processes internally for different services, and the goal is to consolidate them into just one unified process
Once unified, customers who complete KYC for one product (e.g., savings account) will not need to repeat it when opting for another product (e.g., home loan, credit card).
Why This Matters
- Improved customer experience: Customers won’t have to go through repetitive KYC steps each time they take a new product with SBI. This reduces friction and saves time.
- Operational efficiency: For SBI, fewer duplicate KYC checks mean streamlined processes, reduced costs and faster service delivery.
- Regulatory alignment: There is broader regulatory interest in simplifying KYC across the financial services sector. SBI’s move may set a benchmark.
- Digital banking acceleration: As part of its “Saral” project (process re-engineering initiative), this KYC overhaul supports SBI’s push into digital banking and expanded services via its app and branches.
Key Details & Timeline
- The target launch date is by March 2026.
- Team size: Over 50 people are reported to be working on the KYC re-engineering project.
- It is part of the bank’s broader reforms under the “Saral” project, which also covers other process simplifications. mint
- Post-rollout, SBI intends to offer “KYC as a service” internally — i.e., a single KYC department that serves multiple product lines.
Things to Watch & Consider
- Implementation risk: While the target is March 2026, actual rollout across all branches and products may face delays, especially given the scale of SBI’s operations (hundreds of millions of customers).
- Customer communication: Customers will need to be informed clearly how the new process works and what products it covers — avoiding confusion during transition phases.
- Technology and compliance: A unified KYC system must continue to meet regulatory requirements (from Reserve Bank of India, etc.) while improving user-experience — balancing ease and risk management.
- Product-scope clarity: It remains to be clarified whether the single-window KYC will cover all existing and future SBI products (e.g., savings accounts, loans, cards, wealth services) or if some exclusions apply initially.
- Impact on customers in regional/branch settings: In smaller towns (e.g., Jaipur) with branch-based operations, how smoothly the new system transitions will matter for on-ground users.
Final Thoughts
SBI’s move to introduce a single-window KYC by March 2026 signals a meaningful step in improving banking usability and reducing customer friction. For India’s largest bank by asset size, this is a major operational reform that could set a precedent for other banks.
