Mumbai: State Bank of India (SBI), in an attempt to attract a larger chunk of the mass affluent and high net worth individuals (HNIs), plans to establish one-man branches and financial service centres (FSCs) in urban areas. The bank seeks to set up 1,000 one-man branches in residential areas to meet the banking requires of these categories virtually at their doorstep and also establish sales outlets, or FSCs, at places like shopping malls and market centres.
Of SBI''s 90 million retail customer base, only about 3 per cent are from the mass affluent and HNI segments. These will operate as sales outfits offering personal banking products, credit cards, remittance facilities, investment advisory services, including mutual funds and insurance, to walk-in customers. The centres will be connected to a liabilities processing centre and a central loan processing centre. The bank is in negotiations with the Reserve Bank of India (RBI) to secure clearance for opening the outlets. The bank also plans to convert its existing loss-making branches in metro and urban areas into lean branches providing only routine banking transactions.
Of SBI''s 90 million retail customer base, only about 3 per cent are from the mass affluent and HNI segments. These will operate as sales outfits offering personal banking products, credit cards, remittance facilities, investment advisory services, including mutual funds and insurance, to walk-in customers. The centres will be connected to a liabilities processing centre and a central loan processing centre. The bank is in negotiations with the Reserve Bank of India (RBI) to secure clearance for opening the outlets. The bank also plans to convert its existing loss-making branches in metro and urban areas into lean branches providing only routine banking transactions.
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