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July 21, 2009updated 04 Apr 2017 1:12pm

SBI expansion drive gathers pace

Indias largest banking group, State Bank of India (SBI), fresh from its biggest expansion drive in a single day (it opened 154 branches and 1,540 ATMs on 12 July) says it will introduce banking services to 50,000 unbanked villages by March 2010.

By Hugh Fasken

India’s largest banking group, State Bank of India (SBI), fresh from its biggest expansion drive in a single day (it opened 154 branches and 1,540 ATMs on 12 July) says it will introduce banking services to 50,000 ‘unbanked’ villages by March 2010.

SBI’s network, which now totals 11,811 units and 9,502 ATMs, will be further expanded with the launch of 1,000 branches and 10,000 ATMs by the end of the current fiscal year. SBI’s ambitions to reach out to the unbanked sector represent a near doubling of its current operations, which extend to around 53,000 villages.

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