State Bank Of India

State Bank of India (SBI), country’s largest public sector lender, has opened its second sbiINTOUCH (a hi-tech self) branch in Mumbai. Instead of tellers, most of the functions such as cheque deposits, cash deposits, passbook updation and account opening are done by self-service machines. Further, the bank has scaled down the target for opening more digital branches to 100, from the initial plan for 250.

The bank has reported 25.11% rise in its net profit at Rs 3879.07 crore for the quarter ended September 30, 2015 as compared to Rs 3100.41 crore for the same quarter in the previous year. The bank’s total income increased by 12% to Rs 46854.81 crore for the quarter under review from Rs 41833.36 crore for the corresponding quarter of the previous year.