9:30 IST – State Bank of India has opened a new Global Trade Finance Centre (GTFC) in Kolkata to handle all trade-related work for its branches in the East and North-East. SBI Chairman C. S. Setty, during his visit to the centre on Saturday, said the purpose is simple but powerful: faster work, stronger checks and a better overall customer experience.
And interestingly, this major digital push is happening in the same region where SBI’s oldest ancestor, the Bank of Calcutta (1806) — was born.
Quick Snapshot
| Point | Detail |
|---|---|
| New Centre | Global Trade Finance Centre (GTFC), Kolkata |
| Covers | All SBI branches in East & North-East |
| Team | 300+ trained professionals |
| What’s changing | Less paperwork, more digital workflow |
| Tech used | AI, ML, Blockchain, digital documents |
| SBI’s goal | Faster, safer, uniform trade-finance handling |
Why Kolkata is compared to other states — explained
1) Earlier, every branch did its own trade work — now everything comes under one roof
Earlier, trade papers, exporter documents and LC (letter of credit) work moved differently in different branches.
Unlike that scattered style, the new Kolkata hub follows ONE clean method for all branches.
It cuts confusion and delays.
2) Kolkata has talent + a calmer, cost-friendly environment
The New Town financial/tech belt gives SBI access to trained operations and IT talent without the rush or costs of Mumbai and Bengaluru.
3) The region is a natural trade gateway
Kolkata and Haldia ports handle major export-import flows for the East and North-East.
Having the trade centre nearby helps SBI respond quickly to regional businesses.
4) A silent return to its roots
SBI didn’t say this openly, but the emotional connection is clear.
From Bank of Calcutta (1806) → to a modern digital Global Trade Finance Centre in Kolkata (2025) — the story completes a circle.
The Most Important Part:
What does “AI, ML, Blockchain, Digitisation” REALLY mean here?
Readers love this part, so it’s written in love –
AI (Artificial Intelligence)
AI simply means the system can read and understand documents faster, spot errors, and guide officers.
Example:
If an exporter attaches a wrong document, AI can flag it instantly instead of waiting for human checking.
ML (Machine Learning)
ML helps the system learn from past trade documents.
If a certain type of transaction usually causes delays, ML can predict it and warn the officer in advance.
Blockchain
block chain is like a digital safety locker.
Once a trade document is recorded, it cannot be changed secretly.
This reduces fraud and makes the whole process more trustworthy — very important for export-import.
Document Digitisation
- Earlier: big files, stacks of papers, courier delays.
- Now: digital copies, scanned documents, online verification.
- This alone saves days for businesses.
Why does all this matter?
- Because trade finance depends on speed + accuracy.
- A small delay can hold up entire shipments.
- SBI wants this new centre to solve that once and for all.
Chairman C. S. Setty himself said the bank aims to set “new benchmarks in speed, security and customer experience” using these digital tools.
What customers will feel
- Faster handling of letters of credit and import-export papers
- Less back-and-forth with branches
- Clear timelines
- More secure document handling
- Same service quality across all branches
Small businesses — who often face the most trouble with paperwork — stand to benefit the most.
What’s still not disclosed
SBI has not yet shared:
- full rollout timeline
- Which software platforms power the system
- new promised turnaround times
These usually come once the centre completes a few months of full operation.
Unlike the old paperwork-heavy process, this new hub shows SBI wants to serve businesses faster, safer and in a far more disciplined way — for today’s India, and tomorrow’s global trade.
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