The term Innovation means to make something new. Innovation is introduction of a new good, introduction of new method of production, the opening of a new market, the conquest of a new source of supply, carrying out of the new organization of any industry. Indian Banking Sector has witnessed a numerous changes from decades. Value creation is an essential element in present era as market is buyer oriented. Most of the banks have introduced innovative techniques in banking in order to create value for customers and to add more and more customers in its network. In this paper we have discussed the various products & services offered by State Bank of India. SBI is a pioneer in providing various IT services. The research methodology adopted for this study is descriptive research study. The primary data is collected through interaction with the local branch managers of SBI and with the staff dealing with the IT services of the Bank. The secondary data is collected to substantiate the primary data. The various broachers, reports on IT of SBI, and the related articles of the relevant topic were referred for the study.

KEYWORDS: Information Technology, Innovative Banking, State Bank of India, IT Services