Shift towards digital banking is going to be permanent: SBI Chairman

However, physical branches will remain as visibility helps, he added

State Bank of India Chairman Rajnish Kumar on Wednesday said the number of consumers moving away from branch level transactions and adopting digital modes is increasing, and this change is going to be permanent.

He said currently only seven out of 100 transactions are taking place at SBI branches as against 20 out of 100 transactions three years ago.

"Progressively, we are seeing that there has been a shift away from branches and even from ATMs. The number of transactions on ATMs have come down from 55 to 29 per 100. On the other hand, the digital transactions, which are on mobile