State Bank Of India

State Bank of India (SBI), the country’s largest lender, is planning to open 250 digital branches in FY16. Last year, in July, the bank started six digital branches - SBI InTouch - and planned to take it to 50 in the next one year. However, it made only one addition since then.

For SBI InTouch, the strategy had been to open digital branches in tier-2 and tier-3 cities. The digital branches will continue to have one or two bank representatives.

The bank reported 10.25% rise in its net profit at Rs 3692.43 crore for the quarter ended June 30, 2015 as compared to Rs 3349.08 crore for the same quarter in the previous year. Total income of the bank increased by 9.80% to Rs 44730.87 crore for the quarter under review from Rs 40739.21 crore for the corresponding quarter of the previous year.