SBI expands nationwide reach, empowers the underserved
FinTech BizNews Service
Mumbai, March 08, 2025: State Bank of India, the nation’s largest bank, today 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, Smt. 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, Shri M. Nagaraju, and Shri CS Setty, Chairman, SBI. 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 ₹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 FY25, it has already deployed ₹379 crores, further driving its efforts in community development and sustainable growth.
On the occasion, Finance minister, Smt. Nirmala Sitharaman said, “SBI continues to be a trusted partner to over 51 crore customers—more than the population of many countries—demonstrating its deep-rooted commitment to economic progress across all income groups. The bank’s ability to evolve and innovate has been instrumental in maintaining its leadership despite regulatory challenges and market disruptions. By embracing digital transformation, SBI has redefined customer experiences, introduced seamless financial products, and enhanced operational efficiency, making banking more accessible and inclusive than ever before”. She further noted that as one of the largest commercial banks in the world, catering to approximately 5.6% of the global population, SBI’s agility and competitiveness remain unmatched.
The Finance Minister expressed pleasure in inaugurating 501 Women Customer Service Points on the special occasion of International Women’s Day, highlighting it as a milestone in SBI’s commitment to fostering financial independence for women across the country. “These service points will enhance last-mile banking access, empowering more women to take charge of their financial well-being and contribute actively to India’s economic growth,” she said.
With a rich legacy and a strong commitment to financial inclusion, SBI continues to strengthen its role as the nation’s trusted banking partner, driving progress and prosperity for all.
