State Bank of India: Braving the tsunami of demonetization

State Bank of India, India's largest public sector bank, with around 62% stake owned by the government, protected its reputation by actively engaging with the media in an open and transparent manner.

Campaign details

Advertiser: State Bank of India Brand: State Bank of IndiaAgency: Adfactors PR Country: India

Background

The Indian government, on the evening of November 8, 2016, announced that currency notes of 1,000 and 500 denominations would cease to be legal tender from midnight, and those currencies would have to be compulsorily deposited in banks and exchanged with new currencies. In a country with a population of 1.3 billion and where close to 90% of transactions are done in cash, the 'demonetisation' announcement meant a humongous amount of monies ...

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