State Bank of India (SBI) plans to open 600 branches across the country in the current financial year to capitalize on business opportunities in emerging areas, including large residential townships. “We have strong branch expansion plans… this will primarily focus on emerging areas. Many residential colonies are not currently covered by us. We are planning around 600 branches this year,” SBI Chairman C S Setty said in an interview with PTI.

The country’s largest lender opened 137 branches in the previous fiscal year, including 59 new rural branches. As of March 2024, SBI’s network consists of 22,542 branches nationwide, along with 65,000 ATMs and 85,000 business correspondents.