All the people know about the deteriorating situation of the banks in India. The Reserve Bank also expressed concerns over the bad situation of banks. There was no improvement in the situation of the banks. But the condition of the banks is getting worse on day-to-day basis. Once again, there has been bad news for the banks. In fact, the Indian banks' overseas branch is going to stop it. There are 216 branches of Indian government banks abroad. A total of 70 branches from these branches are going to be closed by the end of this year. In addition to 70 showrooms, other services of these banks will also be closed abroad.
A senior official of the finance ministry said that Indian State Bank, Punjab National Bank, Indian Overseas Bank, IDBI Bank and Bank of India will cut their services heavily from overseas. To save savings, there is hope for closure of 70 out of 216 foreign branches by the end of this year. Officials say this step is being done to improve the bank's position, reduce costs and save savings. In the Gulf countries such as Oman and the United Arab, the bank will close the branches, which are not getting enough benefit. Officials said some of the branches are being converted to small offices.
The bank has also started closing inappropriate branches. To reduce savings, other steps have also been started. So far, 37 banks and their services have been closed abroad. 60 70 banks will be closed till the end of the year.
SBI has closed six foreign branches,
officials say that in a few months six foreign branches of SBI have been closed. While some branches in Sri Lanka and France are being converted to small offices.
