According to a recent press report Mr. R. Karthikeyan General Manager, SBI, has said that by the end of December 2011 the bank along with the Visa International and Elavon has planned to have 25,000 point-of-sale (POS) to expand its network.
He said that the bank have a venture plan to open 6lakh POS terminals from 10,000 POS terminals within the next five years. The Bank has also planned to increase 60,000 savings bank accounts per day and it is already holding 26 crore retail customers.
Reports said that the bank is going to add 10,000 ATMs by this March-end 2012. The hidden idea is to enable the retail payments through this POS infrastructure and ATM. As a privilege the Bank has introduced Vishwa Yatra Card in Saudi Rial. The card introduced by SBI already has pre-paid stored value foreign currency travel card.
The validity of the card is five years and it is used in world level currencies namely US Dollar, Pound Sterling, Euro, Australian Dollar, Canadian Dollar and Yen. The card deals with the foreign exchange, through its 350 branches the card can be loaded and reloaded.
The card is useful for the students studying abroad, their parents can send money, useful for the pilgrims to carry cash, and for the employers who can load the card with allowances.
SBI one of the largest Indian banking and financial services company is aggressively occupied in Community Services Banking; it is also involved in offering Educational loan to students in order to pursue education in India or aboard. The bank also provides a variety of services including SBI Internet banking, SBI Life Insurance, SBI Personal Loan, SBI Home Loan, SBI Auto loan, loan against mortgage of property etc.