SBI to expand footprints in one lakh more villages

State Bank of India (SBI) will expand its footprints in one lakh more villages in the next two years, mounting a further challenge to its competitors.

"We are not facing any competition from the private or MNC banks. In fact, they are facing competition from us," SBI Chairman O P Bhatt said last night after launching the new online trading platform 'ez-trade' for its customers.

Bhatt was replying to a question on competition from the private and MNCs banks in the absence of any specific proposal for the merger of associates with the parent SBI.

He said the SBI will connect one lakh more villages in the next two years with the banking services to further enhance its network to tap the growing rural economy.

On the issue of merger of associate banks with the SBI and granting of autonomy to them, he said "there is no specific proposal as such for the merger of associates with the SBI at present. As far as the issue of autonomy is concern, the associates are autonomous institutions."