On Saturday, July 24, President Ram Nath Kovind inaugurated the new branch of the country's largest lender, the State Bank of India (SBI), at the premises of the Rashtrapati Bhavan. This is the first branch to be opened at the President's Estate. First Lady Savita Kovind, Union Finance Minister Nirmala Sitharaman, Union Minister of State for Finance Dr. Bhagwat Kishanrao Karad, and SBI chairman Dinesh Khara were present at the event.
The branch was inaugurated by Hon’ble President of India, Shri Ram Nath Kovind alongwith First Lady Smt. Savita Kovind, in the august presence of Hon’ble Finance Minister, Smt. Nirmala Sitharaman & Hon’ble Minister of State for Finance, Dr. Bhagwat Kishanrao Karad. #SBI pic.twitter.com/F3dM6VGoFP— State Bank of India (@TheOfficialSBI) July 24, 2021
According to a statement issued by the Rashtrapati Bhavan, President Ram Nath Kovind is the first customer of the new SBI branch and was handed over his passbook today, soon after opening his account.
SBI chairman Dinesh Khara said that it was an honor for SBI to have a branch at the President’s Estate.
The SBI chairman added, "We are thankful to the Hon’ble President for graciously inaugurating this branch. The branch will offer a convenient and seamless banking experience to all the customers. This branch at President’s Estate is a jewel in the crown for SBI".
The new SBI branch is open to all residents and not just to residents of the estate. The branch offers safe deposit lockers and an ATM for customers. All types of banking services will be provided to the residents of the President's Estate. All financial services are provided by the bank and is equipped with the latest digital initiatives such as video KYC, automated cash deposit and withdrawal machine, as well as self-service passbook printing facility.
State Bank of India (SBI) is the largest Indian Bank with 1/4th market share that carries a legacy of over 200 years. It serves over 44 crore customers through its vast network of over 22,000 branches, 58,500 ATMs, 66,000 BC outlets, with an undeterred focus on innovation, and customer-centricity. SBI states that their bank functions as per their core values that include service, transparency, ethics, politeness, and sustainability.
The Bank has successfully diversified businesses through its 11 subsidiaries including SBI General Insurance, SBI Life Insurance, SBI Mutual Fund, and SBI Card. It operates globally across time zones through 233 offices in 32 foreign countries.