Recently State bank of India has reported that the bank is planning to set up 20 new branches in Orissa by the end of this fiscal year. Yesterday bank has already launched 15 new branches in the state making a total of 799 branches in the state.
Out of 15, 8 branches are set up in the area completely devoid of banking facilities. 82% of the branches of the bank are located in rural and semi urban areas of the state. Chief general manager of the bank also stated that two new loan products designed by SBI keeping in view the upcoming Nabakalebar festival of Puri Jagannath Temple expected to draw over four million pilgrims and tourists.
SBI is endeavoring to avail the banking facilities across all the unbanked and devoid areas of the country. Currently the state bank is the largest bank with the huge network spread all over the country.