SBI to open 50 more branches in Gujarat by fiscal-end

Ahmedabad, Feb 16 (PTI) The nation''s largest lenderState Bank of India (SBI) today said it will open 50 morebranches in Gujarat by this fiscal-end.

"We shall be adding 50 more branches by this fiscal-end to the existing network of 1,150 branches in Gujarat," SBIGujarat Circle Chief General Manager P Nanda Kumaran toldreporters here.

Moving towards paperless banking culture, the state-run lender has proposed to open a separate 24X7 operationalSelf Service branch.

"We will open a Self Service branch in Ahmedabadbefore this fiscal-end in one of the non-banked areas of thecity, which shall be followed with another such branch inVadodara," Kumaran said.

The concept of Self Service branch promotes paperlessbanking culture where automated machines offer routineservices like cash deposit, withdrawal, remittances, passbookupdates and statements.

The bank has proposed to add 225 ATMs in Gujarat toits existing network of 1,300 machines. It will also installhigh-end ATMs which provide direct cash deposit facility.

"In order to get rid of disputes arising from envelope-based ATM cash deposits, the bank has decided to introducedirect cash deposit ATMs at seven locations in five majorcities of Gujarat," Kumaran said.

The bank has inked an MoU with Gujarat LivelihoodPromotion Company for lending Rs 5,000 crore over the next 3to 5 years with a view to link SHGs, producer groups and thepoor with banking channel, he said. (More) PTI VKB PD RSY