SBI Corporate Net Banking: What is SBI Internet banking and how can businesses benefit from it

SBI Corporate Net Banking: What is State Bank of India's (SBI) Corporate Internet Banking and how can the business community benefit from it? How can the corporate and business community access the services and if all the SBI branches can provide this facility? Here is a sneak peek.

Corporate Internet Banking (CINB) of the SBI is the channel which facilitates corporate customer - be it any non- individual customer such as firms, companies, trusts, partnerships, proprietorship concerns, etc to carry out banking activities online anywhere and anytime, aided with the power and convenience of the internet.

The SBI provides a corporate internet banking facility based on the size and complexity of the company. It has designed different banking products to suit the varying needs of different target groups. You can choose the product among the following that suits your needs best.

Saral - This is a simplified single user transactional product ideally suited for sole proprietorship concerns, micro-enterprises or individual businessmen who require online transaction facilities in their business accounts. The product provides transaction rights to the user involving the transfer of funds to own or third party accounts up to a limit of Rs 10 lakhs per day.

Vyapaar - This is a multi-user transactional product meant for small and medium enterprises and organizations maintaining accounts with a single branch of SBI and who wish to provide discretionary access/ transaction rights to their users. The Administrator of the Corporate creates other corporate users and assigns rights to them for different accounts up to a maximum transaction amount of Rs 50.00 lacs per transaction (Government / Tax transactions up to Rs. 2 crores). There will not be any ceiling on the number of transactions per day.

Vistaar - This is a complete internet banking suite for large and very large corporate, Government organizations and Institutions. The facility enables multiple users to have discretionary access/transaction rights across accounts with various branches. The Corporate Administrator creates other users and assigns rights to them for different accounts up to a maximum transaction amount of Rs 2,000 crore per transaction (Government/ Tax transactions up to Rs. 10,000 crores). There will not be any ceiling on the number of transactions per day.

Khata - This is a single user inquiry product meant for small firms or institutions that maintain accounts with only one branch of SBI and who wish to do only online inquiry and downloading of account statements. Online transactions are not allowed in this product.
Khata Plus - This is a multi-user inquiry product meant for slightly larger firms or institutions banking with multiple branches of SBI. This provides an inquiry facility to multiple users of the organization. Online transactions are not allowed in this product either.

Who can avail the SBI Corporate Net Banking or CINB facility?
Any non-individual customer, whether it is a single man enterprise, small business enterprise, firm, trust, institution, Government organization or large conglomerate is treated as a Corporate. Any Corporate maintaining account with any branch of State Bank of India can avail CINB.

How to access the CINB site?
Visit online banking site of SBI at https://www.onlinesbi.com Click on 'Corporate Banking' caption above login option under CINB section to land on the CINB home page.

Whether all branches of SBI can provide CINB facility?
Yes, CINB facility will be made available by all branches of SBI across the country.

Can CINB be made available to the individual (personal Banking) customers?
No, Corporate Internet Banking as the name itself indicates is meant exclusively for Corporate customers (non individuals). For individual customers, Retail Internet Banking facility is separately available.

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The Internet banking portal of SBI, www.onlinesbi.com is a highly secure, the state-run bank claims. It is a verisign certified site with the transaction data traveling encrypted via an SSL medium (256-bit SSL tunnel), the highest level of security on the internet, the website says.