State Bank of India announced the launch of six digital branches across the country with the branch in Delhi being inaugurated by finance minister Arun Jaitley. The bank said the digital branches, named sbiINTOUCH, are intended to serve tech-savvy customers of the bank. These branches will offer facilities usch as instant account opening with personalised debit cards, instant loan approvals for education, car and home and remote expert advisory through video links. Besides Delhi, these branches will be in Mumbai, Bangalore,Chennai and Ahmedabad. Arundhati Bhattacharya, chairman of the bank, said today, more than half of India’s population is under the age of 25 and by 2020, India’s average age will be 29 years and this generation would expect businesses to provide solutions instantly. At the same time, the mass afflunet – no matter what their age – have similar espectations and Indian banks need to provide a strong response to these new demands, she added. The bank has developed the digital branches in association with Accenture. The new branches will be located in malls and will be primarily aimed at youth, who look for digital banking.
