Will SBI Provide Banking Services at Land Ports for Over 1.8 Million Travelers?
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Synopsis
The State Bank of India is set to offer crucial banking services for over 1.8 million travelers crossing land borders with neighboring countries. This expansion will enhance financial access in key regions like Nepal and Bangladesh, fostering smoother transactions and supporting international travel.
Key Takeaways
- SBI is expanding services for 1.8 million travelers.
- Key land ports include Petrapole and Raxaul.
- Comprehensive financial solutions will be offered.
- Digital banking services will enhance accessibility.
- SBI currently operates over 22,500 branches nationwide.
New Delhi, April 29 (NationPress) The State Bank of India (SBI) is set to provide vital banking services to over 1.8 million travelers journeying between India and its neighboring nations such as Nepal, Bhutan, and Bangladesh via land ports, as stated by Chief General Manager Debashish Mishra on Tuesday.
Mishra emphasized the bank’s systematic expansion plan, revealing to IANS that SBI intends to target major land ports like Petrapole on the Bangladesh border in West Bengal and Raxaul on the Nepal border in Bihar within the forthcoming six months.
He noted that these specific locations collectively represent almost 80 percent of the cross-border foot traffic.
This announcement followed the signing of a Memorandum of Understanding (MoU) between SBI and the Land Ports Authority of India (LPAI).
Through this agreement, the largest public sector bank in the country will offer a variety of financial services at the entry and exit points overseen by the authority.
Services will encompass foreign exchange, export-import assistance, card payment options, and corporate salary packages.
Presently, the LPAI manages 15 land entry and exit points, with plans for an additional 11 in the near future. The LPAI operates as a statutory entity under the Ministry of Home Affairs, dedicated to developing, modernizing, and managing land border facilities, particularly Integrated Check Posts (ICPs).
Its primary mission is to facilitate smooth and efficient transit of goods and individuals across India’s international borders while upholding stringent security standards.
Mishra added that SBI currently has 11 branches near these ports and aims to enhance its footprint by establishing more branches or banking outlets as required.
In addition to its physical services, SBI will also provide digital banking solutions such as net banking, phone banking, debit and credit cards, foreign travel cards, and point-of-sale (POS) terminals.
This comprehensive strategy is expected to deliver a holistic banking experience to residents and travelers navigating through these areas.
Serving over 500 million customers across India, SBI operates more than 22,500 branches and maintains a network of 63,580 ATMs nationwide.
Point of View
The initiative by SBI to expand banking services at land ports is a significant step towards enhancing cross-border connectivity and economic cooperation. By facilitating smoother transactions for travelers, the SBI not only strengthens its presence but also supports India's strategic interests in fostering regional ties with neighboring countries.
NationPress
08/06/2025
Frequently Asked Questions
What services will SBI offer at land ports?
SBI will provide a variety of financial services including foreign exchange, export-import support, card payment facilities, and corporate salary packages.
Which land ports are being prioritized for SBI services?
Key land ports such as Petrapole on the Bangladesh border and Raxaul on the Nepal border are being prioritized for service expansion.
How many land entry and exit points does LPAI operate?
Currently, LPAI operates 15 land entry and exit points, with an additional 11 planned for the near future.
What is the main objective of the LPAI?
The main objective of the LPAI is to ensure smooth and efficient movement of goods and passengers across India’s international borders while maintaining high security standards.
How many branches does SBI operate nationwide?
SBI operates over 22,500 branches and has a network of 63,580 ATMs across the nation.
