Hon’ble President of India inaugurates SBI Branch at President’s Estate

by Suman Gupta

New Delhi – July, 2021: Country’s largest lender State Bank of India (SBI) has opened a new branch at President’s Estate in New Delhi. The Branch was inaugurated by Hon’ble President of India, Shri Ram Nath Kovind alongwith First Lady Smt. Savita Kovind, in the august presence of Smt. Nirmala Sitharaman, Hon’ble Union Minister for Finance and Corporate Affairs, and Dr. Bhagwat Kishanrao Karad, Hon’ble Minister of State for Finance.

The Branch will provide all types of banking services to the residents of President’s Estate. The branch will offer safe deposit lockers and is also equipped with ATM, Cash Deposit Machine and Self-service Passbook Printer.

The Secretary to the President Shri K.D. Tripathi, Chairman of SBI, Shri Dinesh Khara, Managing Director (Retail & Digital Banking) of SBI Shri C.S. Setty and other senior officials of SBI were also present at the inauguration ceremony.

Dinesh Khara, Chairman, SBI said, “It is an honour for SBI to have a branch at the President’s Estate. We are thankful to the Hon’ble President for graciously inaugurating this branch. The branch will offer a convenient and seamless banking experience to all the customers. This branch at President’s Estate is a jewel in the crown for SBI.”

SBI has the largest network of more than 22,000 branches and 60,000 ATMs / CDMs – serving around 45 crore customers through its 2.5 lakh employees. The Bank’s branches and ATMs are located all across the country including some of the remotest and inaccessible parts such as Diskit and Khardung La in Leh district of Ladakh, to name a few.

About State Bank of India:State Bank of India is the largest commercial bank in terms of assets, deposits, branches, customers, and employees. It is also the largest mortgage lender in the country which has so far fulfilled the home buying dreams of 30 lakh Indian families. The home loan portfolio of the bank has crossed the milestone of Rs. 5 lakh crore. As on March 31, 2021, the bank has a deposit base of nearly Rs. 37 lakh crore with CASA ratio of over 46% and advances of more than Rs. 25 lakh crore. SBI commands a market share of 34.53% and about 32% in home loans and auto loans segment respectively. SBI has the largest network of 22,219 branches and 62,671 ATM / CDM in India with BC outlets close to 72,000. The number of customers using internet banking and mobile banking stand roughly at 89 million and 20 million respectively. The integrated digital and lifestyle platform by SBI – YONO has over 37 million registered users, which witnesses 9 million logins per day. Accelerating the digital agenda, 2 million accounts have been opened through YONO in the quarter ended March 2021. In terms of digital lending, the bank disbursed personal loans of more than Rs. 5300 crore through the YONO mobile app in the same quarter. On social media platforms, SBI has the highest number of followers on Facebook and Twitter amongst all banks worldwide.