The State Bank of India has opened its office in Melbourne in Australia. It is the first Indian bank to have a branch in the Australian state of Victoria. The bank hopes that the Melbourne branch will help it get business in the light of the growing trade and investment relations between Victoria and India. Victoria’s parliamentary secretary to the treasurer, Steve Dimopoulos, said the state is delighted to welcome the bank – the first Indian bank to set up operations in the state. The two-way merchandise trade between Victoria and India was to the tune of 1.76 billion Australian dollars in 2018. SBI’s MD Dinesh Kumar Khara said he is confident the Melbourne branch will further strengthen the relationship between the two countries.
