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SBI Plans To Partner With Post Offices To Tap Remote Rural Areas

Harish Dhawan 22 August 2007

State Bank of India (SBI) has decided to join with hands with Post offices to stretch out to most distant Indian villages. Finance Minister, P Chidambaram announced in Lok Sabha that the bank is grouping with post offices to offer credit to remotest villages of India.

In terms of earnings, assets, deposits, arms and work force, SBI is the biggest and leading commercial banking institution in India. In Oct. 1996, the bank successfully floated the first GDR issue of any commercial bank in the country and raised USD 369 million, including the greenshoe option.

Shares of the bank ended up Rs 30.95 at Rs 1,550.45. The scrip traded with total volume of 382,712 shares on Monday (20 August).

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