Sberbank India Receives RBI Approval to Set Up IT Unit in Bengaluru

In a strategic move to bolster its technology capabilities, Sberbank’s India branch has secured approval from the Reserve Bank of India (RBI) to set up an IT unit in the bustling city of Bengaluru. The newly established IT office, slated to serve as Sberbank’s in-house Data Processing Center, capitalizes on Bengaluru’s reputation as India’s preeminent scientific and industrial hub, often referred to as the “Silicon Valley of India.”

While Sberbank’s presence in New Delhi has been offering a wide array of financial services since 2010, the Bengaluru unit will exclusively focus on the development of cutting-edge information technologies. Beyond catering to the technological needs of the Indian branch, this hub will play a crucial role in ideating, creating, and implementing innovative digital products tailored to meet clients’ evolving demands.

Emphasizing its commitment to the region’s growth and fostering employment opportunities, the bank plans to employ up to 200 IT specialists in the Bengaluru unit. This strategic move aligns with Sberbank’s broader global vision and reinforces its standing as Russia’s largest bank and a prominent financial institution on the international stage.

With nearly one-third of the aggregate Russian banking sector assets and a significant role as a key lender to the national economy, Sberbank’s expansion into Bengaluru further solidifies its position in the dynamic and competitive landscape of international finance. By leveraging Bengaluru’s technological prowess and thriving ecosystem, Sberbank India is poised to lead the way in developing and deploying cutting-edge digital solutions, driving the transformation of financial services and enriching the customer experience in India and beyond.