Finance Minister Nirmala Sitharaman Emphasizes SBI's Role in Women's Empowerment
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Synopsis
On March 9, Finance Minister Nirmala Sitharaman inaugurated 70 SBI branches and 501 Women Customer Service Points to enhance banking access for underserved populations, emphasizing financial independence for women and the bank's commitment to economic development.
Key Takeaways
- Nirmala Sitharaman inaugurates 70 SBI branches and 501 Women Customer Service Points.
- Highlights SBI's commitment to women's financial empowerment.
- SBI serves over 51 crore customers, showcasing economic advancement.
- The bank's innovation and digital transformation enhance accessibility.
- Commitment to CSR projects in women’s empowerment and community development.
Mumbai, March 9 (NationPress) The Finance Minister, Nirmala Sitharaman, has launched 70 new branches and 501 Women Customer Service Points of the State Bank of India (SBI) to enhance banking access for the underserved segments of the population.
During the inauguration on International Women’s Day, the Finance Minister emphasized that these new service points demonstrate SBI’s dedication to promoting financial empowerment among women nationwide.
“These service points will improve last-mile banking access, enabling more women to take control of their financial health and actively participate in India’s economic development,” she remarked.
The Finance Minister further stated, “SBI serves over 51 crore customers—surpassing the population of numerous countries—showing its strong commitment to economic advancement across diverse income levels.”
She pointed out that as one of the largest commercial banks globally, serving approximately 5.6 percent of the world’s population, SBI’s adaptability and competitiveness remain unparalleled.
“The bank’s capacity to innovate and evolve has been crucial in maintaining its leadership in the face of regulatory challenges and market upheavals. By leveraging digital transformation, SBI has reshaped customer experiences, launched seamless financial products, and improved operational efficiency, making banking more accessible and inclusive than ever,” the Finance Minister stated.
She added that this financial year, the bank has continued to focus on key areas to make banking services more reachable to underserved communities.
In a statement, SBI mentioned that the opening of branches in villages such as Pughophoto in Nagaland, Itamati in Odisha, Chullimanoor in Kerala, Palasamudram in Andhra Pradesh, and Chinnambavi in Telangana exemplifies the bank’s steadfast commitment to financial inclusion.
“Expanding its reach, the bank added around 100 branches during Q3 FY25, increasing its network to over 22,800 branches. Additionally, SBI boasts a strong network of 78,023 Customer Service Points (CSPs),” the statement read.
The bank also reiterated its commitment to social impact by designating Rs 26 crores towards 17 CSR initiatives across its 17 Local Head Offices, supporting projects related to women’s empowerment, healthcare, sanitation, livelihood enhancement, and environmental sustainability.
“In the first nine months of FY25, SBI has already allocated ₹379 crores, further advancing its community development and sustainable growth initiatives,” the statement concluded.
