The largest lender of the country State Bank of India has set up its first NRI branch in Uttar Pradesh. The branch has been opened in Lucknow.
The bank aims to open three more such branches in the state in this fiscal, one each in Kanpur, Gorakhpur and Deoria.
"The Kanpur branch would be opened in the next two months itself," SBI chief general manager (Lucknow circle) Abhay Kumar Singh said.
The NRI segment of the bank seems to be earning business worth more than Rs 1200 crore in UP.
"This segment is small compared to our total business portfolio in UP and we want to increase this portfolio by providing value added services to such customers," said Singh.
"We are trying to create a database of NRIs from UP to proactively try reaching out to them," Singh added.