The State Bank of India (SBI), the largest public sector bank in India, has been planning to open around 42 new branches in Odisha during the current fiscal year. SBI will open 15 new branches in January 2015 under branch expansion plan in Odisha.
The Chief General Manager of SBI, KM Trivedi told that the State Bank of India had targeted to open 42 new branches in the state of Odisha and 15 branches to be dedicated in January 2015 to the public availing them the banking services.
In Odisha, there 820 branches of SBI with sound regional distribution and new branches would strengthen the banking operation in the state.
Huge opportunities have been available for banking in the rural areas of Odisha; Trivedi told that SBI has been given responsibility to covering 900 village panchayats of Odisha by the end of next fiscal year.
Trivedi pointed out that the lack of infrastructure and broadband connectivity could be the biggest hurdle in expansion of SBI branches in rural areas.