SBI plans to open 500 new branches in FY 2025: FM Nirmala Sitharaman
Published On : 2024-11-18T16:22:51+0530 [ IST ] |
Author : Mayur_Tembhare
Reading Time : 2 mins
Home
Import
None :
Finance Minister Nirmala Sitharaman on Monday announced the establishment of 500 new branches of State Bank of India in the financial year 2025.
I understand 500 branches will be opened in this financial year 2025. So 23 000 branches today, 6580 ATMs, 85, 000 banking correspondence, deposits are 22.4 percent Advances are 19 per cent, 50 crore plus customers, 25 per cent debit card expense, 22 per cent of mobile banking transactions and 25 per cent of bank UPI transactions and 29
The finance minister hailed SBI's role in the Jan Dhan Yojana, PM Suraksha Yojana, Jivan Bima Yojana and Atal Pension Yojana.
Between 2014 and today the role of SBI in taking banking to the ordinary citizens in the far-flung areas is through your digital public infrastructure or your digital banking services or through the various comment schemes aimed at reaching the common man.
She further applauded its digital innovation adding that the bank gave equal importance to developing digital infrastructure through all of its branches.
The digital app that SBI brought out has eight crore plus customers and its internet banking customers particularly in retail now stands at 13.2 crores. Some countries, some countries do not even have population this size but you service that many people and I understand your digital investments are kept robust such that it can handle around 20 crore UPI transactions per day.
The minister also praised the PSU for its achievement reflecting on the remarkable progress made from 2014 to the present and potentially even further into the future suggesting that the trajectory is beyond comparison.
I compared with the 100 branches in five years in 1920 at the time of amalgamation to 22,500. Now Similarly if you compare your 22, 500 now or one which is relevant to say 2014 and between 2014 and today exponential growth in reaching every citizen of this country
Source : Reporters From Sunrise Chronicles
Tags : Deposits , Jivan Bima Yojana , India , Similarly , minister50 crore plus customers , yojanabank gave equal importance , bankingmonday announced establishing 500 new branches , Mumbai , sbipriority sector lending activities , branchessbi mumbai main branch building ,
Summary :
Finance Minister Nirmala Sitharaman on Monday announced the establishment of 500 new branches of State Bank of India in the financial year 2025.
I understand 500 branches will be opened in th
