As part of SBI’s platinum jubilee celebrations, FM inaugurates 70 branches & 501 Women CSPs
Mumbai: State Bank of India (SBI), the nation’s largest bank, marked the beginning of its platinum jubilee celebrations, commemorating 70 years of its foundation on July 1, 1955.
As part of the celebrations, Finance Minister Nirmala Sitharaman, inaugurated 70 branches and 501 Women Customer Service Points (CSPs), reinforcing the bank’s commitment to effectively serving the underserved population.
The inauguration took place in the presence of DFS Secretary, M Nagaraju, and CS Setty, Chairman, State Bank of India. During her visit, the Finance Minister also addressed a special Board Meeting of the bank.
SBI has been dedicatedly expanding its branch network to enhance accessibility for customers and reach the unbanked population across the nation.
This financial year, the bank has continued to strategically target key regions to make banking services more accessible to underserved communities.
The inauguration of branches in villages such as Pughophoto in Nagaland, Itamati in Odisha, Chullimanoor in Kerala, Palasamudram in Andhra Pradesh, and Chinnambavi in Telangana stands as a testament to the bank’s unwavering commitment to financial inclusion.
Expanding its footprint further, the bank added around 100 branches during Q3 FY25, surpassing a network of 22,800 branches. Additionally, SBI maintains a robust network of 78,023 Customer Service Points (CSPs).
The introduction of 70 more branches and 501 Women CSPs underscores the bank’s commitment to aligning with the government’s strategy of “Banking the unbanked, securing the unsecured, and funding the unfunded.”
The bank has reinforced its commitment to social impact by allocating Rs 26 crores towards 17 CSR initiatives across its 17 Local Head Offices, supporting projects in women’s empowerment, healthcare and sanitation, livelihood development, and environmental sustainability.
In the first nine months of current fiscal (FY25), it has already deployed Rs 379 crores, further driving its efforts in community development and sustainable growth.
