SBI to offer financial products through postal network
07 Jun 2007
Mumbai:
State Bank of India (SBI), the country''s top lender, is
planning to sell its various products through post offices.
Top SBI officials have made a presentation to the department of post in this regard, chief postmaster general of Maharashtra K Noorjehan said at Skoch financial technologies summit.
The services would be offered in five states initially, she said.
The
public sector bank wants to use the vast network of the
postal department in addition to its large branch network,
including those of its associate banks, Noorjehan said.
SBI is planning to offer time deposit and loans through postal network, she said .
Meanwhile, operations at SBI branches across the country are likely to be hit as its officers'' federation has called a day-long strike on June 8.
The
All India State Bank of India Officers Federation has
called the
strike demanding recruitment of adequate number of officers
and clerical staff in branches and withdrawal of "harsh
punishments for minor offences."