State Bank of India (SBI), the largest public sector bank in the country, has revealed its ambitious plans to grow its branch network by adding 400 new branches in the fiscal year 2025. This substantial expansion was unveiled by SBI Chairman Dinesh Khara during a recent press conference.
Khara emphasized that this expansion is a strategic move aimed at improving customer access and delivering comprehensive banking services to underserved and rural areas. “Our objective is to ensure that banking services are easily accessible to every Indian, regardless of their location,” Khara stated. “The addition of these new branches will not only promote financial inclusion but also stimulate economic growth in these regions.”
The new branches will be strategically positioned across various states, with a focus on regions that currently have limited banking penetration. This expansion aligns with SBI’s commitment to fostering financial inclusion and supporting the government’s vision of an economically inclusive India.
Khara also highlighted that the new branches will offer a wide range of banking services, including personal and business loans, savings and deposit accounts, and digital banking solutions. “We are leveraging technology to provide seamless banking experiences for our customers. Each new branch will be equipped with modern banking facilities and well-trained staff to cater to the diverse needs of our customers,” he added.
In addition to expanding its physical presence, SBI is also investing in digital infrastructure to enhance its online and mobile banking capabilities. This dual approach of physical and digital expansion is expected to significantly increase SBI’s customer base and market share.
The announcement has been met with positive feedback from industry experts and customers alike, who view it as a progressive step towards a more inclusive banking environment. With this expansion, SBI reaffirms its position as a leading player in the Indian banking sector, committed to driving economic development and providing accessible banking solutions to all.
And staffed by? Are the new branch locations been identified and all procedures done and dusted?
New Staff Members? And other key elements such as in-house developments.
As an ex-banker I request more information.
More power to the SBI but the Top Management needs to quickly and positively address key issues and challenges.
it is a good step to generate employment and to reduce shortage of staff. The same step earlier taken in 1983-84 for expansion of branches.
Both bank expansion and job opportunities must go hand – in – hand for speedy growth of the economy