Pune, 24 April 2026

 

It is important for banks to stay close to customers, while expanding and becoming larger. Real progress can be achieved only if local needs are addressed while growing at the global level, said Union Finance Minister Nirmala Sitharaman in Pune today. She was speaking at the inauguration ceremony of the Local Head Office of the Maharashtra Circle of the ‘State Bank of India’.

  

Speaking about India’s economy, she said that one of the major reasons for its resilience is the country’s large domestic market. Consumption within India is very strong. While exports are important as they bring in revenue and value, the current global situation is challenging, affecting exports. However, Indian exporters are continuing their work by exploring new markets, which is commendable.

She emphasized that the domestic economy—agriculture, industry, and the services sector—must remain strong. Sustained and stable support to agriculture, manufacturing, tourism, and the IT sector is essential for maintaining growth, and banks have a crucial role to play in this. She also announced the formation of a committee to prepare banks for “Viksit Bharat 2047.” The banking system will need to evolve according to future needs. By establishing a Local Head Office in Pune, SBI has set a strong example, enabling closer engagement with customers. Maharashtra is a large and economically strong state, making this decision highly beneficial. Despite being a large bank, SBI has maintained its flexibility, she noted, appreciating the bank’s efforts.

Highlighting the importance of direct interaction and relationships between customers and bank employees, she said that although digital banking has grown significantly, human interaction remains equally important. The use of technologies like AI is necessary, but it should complement—not replace—human connection.

She urged bank employees to go beyond conventional sectors such as sugarcane, IT, and startups, and understand unexplored and neglected sectors. Maharashtra has numerous MSME clusters and traditional industries that need modernization. The government has already made announcements in this regard. In eastern and southeastern Maharashtra, several small industries—such as weaving and oil extraction—require strong support.

  

This new headquarters in the Kharadi MIDC area of Pune will oversee SBI operations for all districts except Mumbai and the coastal region of the state. The event was attended by Medha Kulkarni, Member of Parliament (Rajya Sabha); M. Nagaraju, Secretary, Department of Financial Services, Ministry of Finance, Government of India; and Challa Sreenivasulu Setty, Chairman of SBI.

On the occasion, a commemorative postage stamp featuring the new SBI building was released by the Department of Posts at the hands of Finance Minister Nirmala Sitharaman. Additionally, significant donations were made by the SBI Foundation to various institutions in Maharashtra.

  

 

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