In a major restructuring exercise, State Bank of India (SBI) has created a separate Financial Inclusion and Micro Market (FI&MM) vertical with a focus on rural and semi-urban areas to improve customer experience. Under this newly launched vertical, the bank will offer loans mainly for agriculture as well as allied activities, and micro and small enterprises.
About 8,000 branches in rural and semi-urban areas have been identified for providing specialized services to micro-segment, including micro-credit for small businesses and farmers. The thrust is also to improve service quality and availability of banking services through the bank's vast network of over 63,000 customer service points in rural, semi-urban, urban and metro areas. The new vertical will provide a boost to the micro-finance sector.
SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.
