Mumbai, March 9: Finance Minister Nirmala Sitharaman has inaugurated 70 branches and 501 Women Customer Service Points of the State Bank of India (SBI) as part of the commitment to extend banking services to the underserved population of the country.

The Finance Minister said the inauguration of the new Women Customer Service Points on International Women’s Day, highlights the 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.

The Finance minister 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.”

She further noted that as one of the largest commercial banks in the world, catering to approximately 5.6 per cent of the global population, SBI’s agility and competitiveness remain unmatched.

“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,” the Finance Minister said.

She added that this financial year, the bank has continued to strategically target key regions to make banking services more accessible to underserved communities.

Meanwhile, SBI said, in a statement, that 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 statement said.

It added that the bank has reinforced its commitment to social impact by allocating Rs 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,” the statement added.(IANS)

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