State Bank of India
(SBI) is targeting representation in 12,421 unbanked villages by
March 2012, as it ramps up implementation of its Financial
Inclusion Plan.
SBI said that it had
provided basic banking services to 2,012 villages with populations
of at least 2,000 by the end of January and aims to cover over
5,000 villages by the end of March.
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SBI said that this would
take its share of branches located in rural and semi-urban areas to
nearly 67 per cent.
In the last four years,
SBI has set up more than 15,000 customer service points of business
correspondents as well as 13,000 business facilitators, to increase
its outreach.
SBI chairman O P Bhatt
said: “The bank has already reached out to more than 100,000
unbanked villages.”
In January, SBI announced plans
to grow its mobile banking channel – a central plank of its
financial inclusion strategy – by teaming up with India’s largest
mobile phone provider, Bharti.
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