FM Nirmala Sitharaman hails SBI for their unmatched growth story

By  News On Air   Nov 18, 2024

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman today hailed the State Bank of India for their unmatched growth story.

Speaking at the centenary celebrations of Mumbai Main Branch Building of SBI in Mumbai, the Finance Minister recounted that three Presidency Banks that were amalgamated together to make the Imperial Bank of India which at present has become the SBI had 250 branches in 1920s and today the SBI has over 22 thousand 500 branches, 65 thousand ATMs, 85 thousand Banking Correspondents and over 50 crore customers. She also noted that the SBI is the only bank in India listed in the ‘Fortune 500’.

Ms. Sitharaman also commended the SBI for the growth and penetration of digital banking in the country. She highlighted the bank can handle 20 crore UPI transactions per day. She also encouraged the SBI to preserve its 43 iconic heritage buildings spread across the country.

Mrs. Sitharaman released a commemorative coin on the occasion. She also unveiled a book titled ‘The Evolution of State Bank of India’ Volume 5 and an audiobook titled ‘Evolution of State Bank of India’ Volume I, II, III IV and V on the occasion. Secretary of the Department of Financial Services M. Nagaraju and Chairman of SBI C S Setty and others were present on the occasion.