SBI plans 400 new branches this fiscal

New Delhi: As part of the network expansion plan, State Bank of India (SBI) is planning to open 400 branches across the country in the current financial year. India’s biggest lender opened 137 branches last fiscal. Of the total, 59 new rural branches were launched.

“Somebody asked me if 89 per cent of digital and 98 per cent transactions were happening outside the branch, whether the branch is required anymore. My answer is yes. It is still required because there are newer areas which are emerging,” SBI Chairman Dinesh Kumar Khara told PTI in an interview.