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SBI planning to open 600 new branches across the country

USNMix Report: Big decision of SBI,
600 new branches will be opened across the country.

Renovation of old branches of State Bank of India (SBI) in Delhi is underway. This year, the country's largest bank plans to open 600 new branches.

Renovation of old branches of State Bank of India (SBI) in Delhi is underway. This year, the country's largest bank plans to open 600 new branches. Informing about this, SBI Chairman Rajneesh Kumar informed that there was a decrease in maintenance of the branches connected after the merger, which is being gradually improved. He said the move has produced positive results in September. Credit growth will also increase over the next five months. 
SBI planning to open 600 new branches across the country

Corporate tax cuts improved
He said business sentiment has improved a lot since the corporate tax cuts. Bed loans have also decreased significantly, all public sector banks (PSBs) have also decreased significantly. With the FRDI bill, companies in the financial sector who are under stress will get a legal framework to solve a problem.

The SBI chairman said that talks were underway to operationalize the Rs 20,000 crore housing package that the government had announced. SBI Capital wants to be a partner in it; if an order is received, SBI Capital will operationalize that fund.

Most integration has taken place in the banking sector, it will take one to one and a half years to operationalize. Right now no concrete steps can be taken. He informed that SBI Life has sold 4.5% stake.

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