The State Bank of India (SBI) is India’s largest and oldest commercial bank, established in 1806. It is a government-owned institution with a vast network of branches across India. SBI offers diverse financial products and services, including savings accounts, loans, and investment options.
STATE BANK OF INDIA (AML-CFT CELL) received IAS-accredited ISO 9001:2015 Certification to deliver quality services to customers and clients. The scope of the certification includes Identification and reporting of STR (Suspicious Transaction Report), CTR (Cash Transaction Report), CCR (Counterfeit Currency Report), NTR (Non-Profit Organisation Transaction report) and CBWTR (Cross Border Wire Transfer Report) to Financial Intelligence Unit- India (FIU-IND) and Other compliances under PMLA 2002 and Rules 2005 and RBI master Directions on KYC on the current version.
What is ISO 9001 Certification?
ISO 9001 certification is the globally recognised Quality Management System (QMS). It exhibits that an organisation has implemented effective processes, procedures, and controls to deliver products or services to meet customer requirements.
Benefits of ISO 9001 for STATE BANK OF INDIA (AML-CFT CELL)
Obtaining ISO 9001 standard offers a goldmine of benefits to STATE BANK OF INDIA (AML-CFT CELL). These are:
- ISO 9001 certification helps organisations improve customer satisfaction by consistently delivering high-quality products or services to meet or exceed their expectations.
- Implementing ISO 9001 streamlines the organisation’s processes and increases operational efficiency by reducing errors and improving productivity.
- ISO 9001 certification provides a competitive edge to an organisation by increasing the credibility and confidence of clients, stakeholders, and customers. Moreover, it attracts new customers and enhances market opportunities.
The State Bank of India (SBI), founded in 1806, is the oldest and biggest in India. Additionally, achieving the Quality Management System (QMS) certification demonstrates their commitment to quality services to ensure customer satisfaction and meet their expectations.