The country’s biggest lender, State Bank of India (SBI), plans to launch 250 Intouch Lite branches in FY16 as part of its digital push, chairman Arundhati Bhattacharya said.
Intouch Lite is a lighter version of the bank’s full-fledged digital branch, differing only by way of a smaller screen size.
Speaking to reporters on the sidelines of an event, Bhattacharya said not only was the bank going slow on new branches, but the entire branch network was also undergoing a transformation. “So, there will be changes in the branch format. There will be changes in the branch location as well, depending on where the habitation is moving,” she said.
She said the bank had started on the digital journey officially from last year in July by opening
Intouch branches by converting the brick and motor branch into a digital place with no cash and with lots of screens.
She said the bank will also target the younger population by opening digital branches in localities where the population is largely young professionals.