SBI To Open A Whopping 2000 Branches Next Year
State Owned Lender and Indian Banking Major plans to open a phenomenal 2,000 branches in the next financial year, which would mean it opens 166 branches a month or 5 new branches every day for a year.
SBI (Bengal circle) Chief General Manager Jayant Kumar Sinha said: “The bank will open 2,000 branches across India next year.” Speaking at an interactive session organised by the Bengal National Chamber of Commerce & Industry here today, Sinha said, the bank had already opened 1,000 branches across the country in the current fiscal year. At present, the bank has 11,009 branches all over the country.
Foreign retail banks are at a serious disadvantage to their domestic rivals, at present they are permitted to open no more than 12 branches a year or one a month, which is simply puny in comparison to the number of branches domestic branches can open.
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