The bank will now focus on establishing more digital branches such as InTouch and InTouch Light branches at existing branches to attract young customers.
SBI chairperson Arundhati Bhattacharya said that the bank is considering establishing around 250 Intouch Lite branches in the fiscal year 2016 as a part of its digital push.
The Press Trust of India quoted Bhattacharya as saying: "If the younger population is the kind of clientele we have in an area and we already have a traditional branch over there, we will look at opening either an e-corner or InTouch light branches.
"The entire SBI branch network is undergoing a transformation. There will be changes in the branch location as well as depending on where the habitation is moving. It is going to be an activity which is going to be well thought out and based on the type as well as need of the clientele."
The bank is also contemplating on relocation of its branches located in the older parts of tier-I and tier-II cities to newer localities.
Meanwhile, the Indian government is reportedly considering merging the country’s only-women Bharatiya Mahila Bank (BMB) with SBI.
