India’s largest innovation center to be setup by SBI in Mumbai

Indias largest innovation center to be setup by SBI in Mumbai

SBI is investing about 100 crore rupees in creating India’s largest innovation center in Mumbai. This innovation center will be set up in the area of 15000 sqft this will be the largest.

As per our information, this Global IT center will be built in Belapur, Navi Mumbai. This 15000 sqft construction will have 40+ dedicated zones for each technology. Some of the technology names are blockchain, machine learning, AI(artificial intelligence) and much more.

This innovation is a part of last year innovation center in which they will be trying to invest 200 crore rupees. Bank has invested earmarked funds and has tied up with an IIT Bombay incubated startup Allincall for procurement and partnered with a Pune-based startup called Primechain for the initiative.

It will be the first step to start working on the future technology blockchain that will change all the banking and financial sectors completely.

DCB Banks innovation head Prasanna Lohar said that there will be 27 leaders and financial institutions. But this is not all they have included 5 companies from the Middle East and 22 companies from all over the country, and all these companies will help them in applying new technology across the country.

Notes for Bank Exams:

Investemnt in innovation center: 100 crore
Place where innovation center will be built: Belapur, Mumbai
Area of construction: 15000 sqft

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