SBI will create unit to manage rural, semi-urban business: Rajnish Kumar

Under financial inclusion, the bank has about 58,000 BCs and 22,010 branches across the country to offer banking services

State Bank of India is creating a unit to manage the vast network of semi-urban and rural branches in the country to provide a thrust to scale up farm lending, micro finance and financial inclusion.
 
“We are making major changes in the retail banking vertical, the national banking group. The bank has decided to create a separate network for micro-finance and financial inclusion under each circle. The new unit will be headed by a general manager,” said Rajnish Kumar, chairman, SBI.
 
The purpose is to enhance oversight on financial inclusion initiatives and the Business Correspondents (BC) channel. Kumar