SBI joins Chinese bank to touch 10,000 branches

PUDUVAYAL:
Public sector State Depository Financial Institution of Republic Of India on Lord'S Day became only the 2nd depository financial institution in the
world to have got 10,000 subdivisions when Union Finance Curate Phosphorus Chidambaram
inaugurated its up-to-the-minute subdivision here. Speaking on the occasion,
Chidambaram said China's ICBC Depository Financial Institution was the other depository financial institution to have got 10,000 branches. Opening 10,000 subdivisions was a
great feat. "It is not an easy milepost though the SBI was the depository financial institution of the
government and Indian people even before other Banks were nationalised," he
said. People all over the
world, including the Chinese, would now cognize about this little small town where the
10000th subdivision of the SBI had been opened, he said adding they would be amazed
by the bank's growth. The bank
should be proud of the accomplishment he said and wished that the depository financial institution opened one
lakh branches. "Chairman of
the 202-year old depository financial institution Omprakash Bhatt was indeed a more than powerful adult male than me
because he handled Rs nine hundred thousand crore (business) whereas my budget is only for
Rs eight hundred thousand crore," he said. The Curate said out of the
over 100 crore people, 70 75 per cent did not have got any type of insurance. Similarly, 50 per cent of the 11 crore husbandmen did not have got depository financial institution account. Banks
should travel to the people and inscribe them as business relationship holders. 'That is what
economists state is fiscal inclusion,' he said.