SBI strengthens presence in Tamil Nadu with the inauguration of 14 new branches

State Bank of India (SBI), the nation's largest bank, has further strengthened its presence in India's second largest state economy, Tamil Nadu, with the inauguration of 14 new branches, 2 Home Loan Centers, 2 modern Rural Self Employment Training Institutes (RSETIs), and a Special Currency Administration Branch (SCAB). These initiatives, inaugurated by SBI Chairman, Shri Challa Sreenivasulu Setty during his visit to the Bank's Local Head Office in Chennai, underline SBI's focus on expanding its reach while supporting community development across the State.

Further to this, as part of the Department of Financial Services (DFS) campaign for the saturation of Financial Inclusion schemes, SBI Chairman virtually inaugurated 110 Gram Panchayat Camps aimed at bringing essential banking and financial services directly to rural communities. Senior officials from the bank, business correspondents were present at these camps where a large number of customers participated.

Additionally, under the bank's CSR initiative, a cheque for ₹1.47 crore was handed over to Shri Sudhan R, Retired IAS and the Member Secretary of the Namma School Foundation for the upgradation of 30 Government Primary Schools throughout Tamil Nadu, reinforcing the Bank's dedication to improving the Educational Infrastructure.

Speaking on the occasion, SBI Chairman, Shri Challa Sreenivasulu Setty said, "SBI may already be India's largest bank with over 22,980 branches, yet we see clear opportunities to deepen our presence where banking access is still limited. The new branches in Tamil Nadu are part of our effort to strengthen this physical connect while complementing it with initiatives like Gram Panchayat camps to drive financial inclusion at the grassroots. At the same time, we remain committed to giving back to society, and our support towards upgrading government schools reflects that responsibility. Our focus is to keep expanding in ways that create both economic and social value for the communities we serve."

"These initiatives are a reaffirmation to the Bank's commitment to making banking more accessible and inclusive. By such undertakings, SBI is not just growing as a Bank but also contributing to the holistic development of the communities it serves", he said.

Shares of State Bank of India was last trading in BSE at Rs. 862.25 as compared to the previous close of Rs. 854.45. The total number of shares traded during the day was 552336 in over 24343 trades.

The stock hit an intraday high of Rs. 863.50 and intraday low of 849.05. The net turnover during the day was Rs. 475245855.00.

Source : Equity Bulls

Keywords

StateBankofIndia INE062A01020 SBIN PSUBank 14NewBranches 2HomeLoanCenters 2RSETIs SpecialCurrencyAdministrationBranch TamilNadu