SI in SBI stands for Standing Instruction. It is a service offered to customers of State Bank of India (SBI) that facilitates periodic scheduled payments for funds transfer. With standing instructions, regular transactions that a customer wants to initiate are processed automatically as a matter of course instead of initiating specific instructions each time. For example, a customer can set up a standing instruction to transfer a fixed amount of money to a beneficiary account on a specified date. This service can be used for a variety of transactions, such as recurring deposits, insurance premium payments, and SIP payments. Once initiated, a standing instruction may go on for many months, or even years, with each cycle being processed automatically. Customers can set up, cancel, and view the history of standing instructions online without needing to contact the branch.