State Bank Of India

State Bank of India is planning to launch 250 Intouch Lite branches in FY16 as part of its digital push. Intouch Lite is a lighter version of the bank’s full-fledged digital branch, differing only by way of a smaller screen size. Intouch branches by converting the brick and motor branch into a digital place with no cash and with lots of screens.

This digital outlet offer multiple services like instant account opening, instant issuance of debit card, live interaction with experts, opportunity to buy financial products and home loans under a single roof.

The bank has posted a rise of 65.52% in its net profit at Rs 134.42 crore for the quarter ended March 31, 2015 as compared to Rs 81.21 crore for the same quarter in the previous year. Total income of the bank has increased by 11.55% at Rs 1308.04 crore for quarter under review as compared to Rs 1172.58 crore for the quarter ended March 31, 2014.