SBI to expand with 600 branches

08 Oct 2024 CW Team

The State Bank of India (SBI) plans to add 600 new branches to its vast network during the financial year 2024-2025 (FY25), as announced by Chairman Dinesh Khara. This move is part of the bank's ongoing strategy to expand its presence and strengthen its customer service network across the country. The new branches aim to cater to the growing banking needs of both urban and rural areas, ensuring greater financial inclusion and accessibility for more people.

SBI’s decision to expand comes at a time when the Indian banking sector is experiencing significant digital transformation. However, the bank believes that physical branches still play a crucial role, especially in semi-urban and rural regions where personal interactions and branch banking services remain essential. By increasing its physical presence, SBI intends to bridge the gap between digital and traditional banking, offering a blend of technology-driven and personalized banking experiences.

This expansion plan is aligned with SBI’s broader vision of improving financial accessibility, expanding its product offerings, and staying competitive in the market. The addition of these branches will also contribute to job creation, providing employment opportunities in the banking sector.

Furthermore, this initiative is expected to enhance SBI’s customer base, offering services such as savings accounts, loans, and other financial products to a larger audience. With the continued focus on branch expansion, SBI aims to reinforce its position as India’s largest public-sector bank and maintain its leadership in the financial services industry.

Infrastructure Energy

09 Jan 2026

Rajesh Power Secures 65 MW BESS Project in Gujarat

Rajesh Power Services has recently secured a 65 MW / 130 MWh standalone Battery Energy Storage System (BESS) project in Gujarat, marking its entry into utility-scale energy storage. The company received a Letter of Intent from Gujarat Urja Vikas Nigam for the project, which will be developed at Virpore under a tariff-based competitive bidding mechanism supported by Viability Gap Funding through the Power System Development Fund.The project is expected to be executed within 18 months from the signing of the Battery Energy Storage Purchase Agreement. With the ability to supply 65 MW of power for..

ONGC Forms JV with MOL for Ethane Shipping Operations

Oil and Natural Gas Corporation (Oil and Natural Gas Corporation) has recently entered the ethane shipping segment through joint venture agreements with M/s Mitsui O.S.K. Lines Ltd (Mitsui O.S.K. Lines), Japan. The agreements involve equity participation in two joint venture entities—Bharat Ethane One IFSC Private Limited and Bharat Ethane Two IFSC Private Limited—registered at GIFT City, Gandhinagar.Under the arrangement, ONGC will subscribe to 2,00,000 equity shares of Rs 100 each in both entities, resulting in a 50 per cent equity holding in each joint venture, with the remaining stake ..

Waaree Energy Storage Raises Rs 10.03 Billio for 20 GWh Plant

Waaree Energy Storage Solutions Private, a subsidiary of Waaree Energies, has recently completed a strategic fund raise of around Rs 10.03 billion from a group of strategic investors, including family offices, high-net-worth individuals and institutional backers. The funding strengthens the company’s position in India’s rapidly expanding energy storage ecosystem.The capital raise forms part of an announced capital expenditure programme of nearly Rs 100 billion for setting up a 20 GWh advanced lithium-ion cell and battery pack manufacturing facility. The plant will manufacture high-performa..