- As one of the world’s largest commercial banks, serving 5.6% of the global population, SBI is more agile and competitive than ever, says Finance Minister
- The bank commits ₹26 crores on 17 CSR activities in 17 Local Head Offices across the country
- The activities are part of SBI’s platinum jubilee year celebration
State Bank of India, 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, Hon’ble 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.
About State Bank of India:
State Bank of India is the largest commercial bank in terms of assets, deposits, branches, customers, and employees. It is also one of the largest mortgage lender in the country which has so far fulfilled the home buying dreams of around 30 lakh Indian families. The home loan portfolio of the bank has crossed ₹ 7.92 lakh crore. As of December 2024, the bank has a deposit base of over ₹ 52.29 lakh crore with CASA ratio of 39.20% and advances of more than Rs. 40.67 lakh crore. Ranked as the 4th most trustworthy bank in the world by Newsweek, SBI commands a market share of 26.9% and 20.1% in home loans and auto loans respectively. SBI has the largest network of 22,740+ branches and 65,000+ ATMs / ADWMs in India with more than 78,000 BC outlets. The number of customers using internet banking stand at 13.5 crores. With SBI’s digital strategy right on track – the bank witnessed 64% of new savings accounts being opened through the integrated digital and lifestyle platform YONO in Q3FY25. YONO, which has more than 8.45 crore registered users, witnessed 32 lakh new YONO registrations in Q3FY25. In terms of digital lending, the bank disbursed pre-approved personal loans worth ₹ 1,631 crores through YONO during Q3FY25. As on 31st December 2024, SBI has 18.3 million followers on Facebook, 2.6 million followers on Instagram, 4.8 million followers on X and 3.1 million subscribers on YouTube. State Bank of India is the most followed bank globally on Facebook, Instagram & X.
