SBI creates separate business vertical for financial inclusion, agri biz

8,000 semi-urban, rural branches to work under the Financial Inclusion and Micro-Markets vertical vertical

In a major restructuring exercise, State Bank of India has created a separate business vertical to focus on financial inclusion and micro-markets (FI&MM) in semi-urban and rural areas.

Under FI&MM, the Bank will offer loans predominantly for agriculture & allied activities, and micro/small enterprises and vastly improve customer experience for the citizens in the hinterland.

About 8,000 branches in rural and semi urban areas have been identified for providing specialised services to the micro segment including micro credit for small businesses and farmers under new vertical. The thrust will be on improving service quality and availability of banking services through