·
The establishment of new LHO in Pune is an indication of how SBI is
moving forward to meet the aspirations of Viksit Bharat 2047 – Smt. Nirmala
Sitharaman, Union Finance Minister
·
“SBI’s strengthened presence in Maharashtra through this new LHO is
aligned with the State Govt.’s own vision of economic development” – Shri M.
Nagaraju, DFS Secretary
·
Step is both timely and forward-looking as SBI aspires to increase its
balance sheet size to 25% of the country’s GDP from 20% - Shri CS Setty,
Chairman SBI
·
SBI donated Rs 22.15 crore under its CSR activities to support various
projects
Mumbai : State Bank
of India (SBI), the nation’s largest lender, announced the inauguration of its
Local Head Office (LHO) in Pune, marking a significant milestone in the Bank’s
continued efforts to deepen its regional presence, enhance customer service
delivery, and accelerate its growth journey.
The Local Head Office was inaugurated
by the Hon’ble Union Finance Minister, Smt. Nirmala Sitharaman, in the
august presence of the Hon’ble Secretary - Department of Financial Services,
Shri M. Nagaraju, SBI Chairman Shri Challa Sreenivasulu Setty, SBI Chief
General Manager – Maharashtra Circle Shri Nand Kishor Singh, and Member of
Parliament, Maharashtra, Smt. Medha Kulkarni, along with senior officials
from SBI and other distinguished dignitaries.
The establishment of the Pune LHO
underscores State Bank of India’s commitment to strengthening its operational
capabilities in a key economic region. The state-of-the-art facility will house
key administrative and operational functions of the Circle. This integrated
framework will collectively enable a more seamless, responsive, and scalable
banking experience. The Maharashtra circle was carved out of Mumbai circle to
sharpen the Bank’s regional focus. While the Mumbai LHO will continue to serve
the country’s financial capital and Goa, the Pune LHO will serve the rest of
Maharashtra.
Inaugurating the Local Head Office, the
Hon’ble Finance Minister Smt. Nirmala Sitharaman said, “The decision of
State Bank of India to move its Local Head Office to Pune to serve the rest of
Maharashtra, with districts towards the east and southeast of the state
reflects the Bank’s nimble, dynamic, and responsive approach. This move is an
indication of how SBI is moving forward to meet the aspirations of Viksit
Bharat 2047.”
Expressing his thoughts at the ceremony,
the Department of Financial Services Shri M. Nagaraju said, “SBI’s
strengthened presence in Maharashtra through this new LHO is aligned with State
Govt.’s own vision of economic development. This new LHO at the heart of Pune
will bring financial decision-making closer to the people. It also positions
the Bank right at the intersection of commerce, technology, and opportunity.
SBI is an institution woven into the very fabric of India’s growth story with a
balance sheet that represents nearly 20% of India’s GDP, and a customer base
that is approx. 35% of the nation’s population.”
Commenting at this development, Shri
Challa Sreenivasulu Setty, Chairman, State Bank of India, said: “The
inauguration of our Local Head Office in Pune reflects our intent to be closer
to our customers and be more responsive to regional opportunities. As SBI
aspires to increase its balance sheet’s size to 25% of the Country’s GDP from
existing 20%, this step is both timely and forward-looking as Maharashtra
offers immense untapped economic potential and is also a leading indicator of
India’s economic activity and scale of country’s ambitions. Within this
Maharashtra circle, Pune accounts for its significant share – 27% of deposits
and 34% of loans, underscoring its central role in our business. Pune has
evolved into one of India’s foremost centres of education, technology, and
industry. It is also recognized as thriving hub for IT, engineering, and
automotive innovation. Therefore, establishing an LHO in Pune is a strategic
alignment with high-growth, future-ready ecosystem.”
The inauguration reflects SBI’s
continued support for the Government of India’s vision of inclusive and
sustainable economic development. By strengthening its regional footprint, the
Bank aims to contribute meaningfully to the region’s economic development by
supporting critical sectors such as infrastructure, agriculture, MSMEs, and
emerging industries. The Pune Local Head Office stands as a testament to the
Bank’s enduring commitment to scale, service excellence, and innovation- further
solidifying its leadership as India’s foremost banking institution.
As part of this special occasion, SBI
donated Rs 22.15 crore under its CSR activities for supporting various projects
such as water conservation, wastewater management, education, rural livelihoods,
community well-being, and healthcare.
During the event, Hon’ble Finance
Minister also unveiled a commemorative postal stamp dedicated to State Bank of
India as tribute to the Bank's unwavering commitment to financial inclusion,
innovation, and customer service.