SBI launches INTOUCH, digital village initiatives in Nepal

India's largest bank State Bank of India (SBI) has launched its flagship service INTOUCH in Nepal, an official spokesperson said in Mumbai on Saturday.

The sbiINTOUCH, inaugurated by SBI Chairperson Arundhati Bhattacharya, will offer customers products like savings account, Saral Bachat account, and Combo savings account. The branch will have facilities like kiosks for account opening, debit card printing, and ATM.

Bhattacharya, along with its subsidiary Nepal State Bank (NSBL), also inaugurated the NSBL digital village, Jaharsing Pauwa which would be the first of its kind digital initiative in Nepal banking industry along with INTOUCH, on Friday.

Under the digital village initiative, the NSBL has adopted Jaharsing Pauwa village to provide financial literacy centres and other banking facilities to the 2,200 villagers.

The services to the 443 households would include an internet banking kiosk, free WiFi, POS utility at four merchant outlets, and cash recycling machines.

In the non-banking services, the villagers will get solar street lights, medicines and medical equipment for the local health centres, books and stationery for the village government school and other facilities under the NSBL's CSR activities.

Both the initiatives are unique to the Nepalese banking industry and are being taken for the first time by foreign offices of the SBI.

The SBI has experience of making 21 Indian villages digital with a target of 101 in the next few months, and it has 250 outlets under sbiINTOUCH.

The NSBL is among the fastest growing commercial banks in Nepal and enjoys a leadership position in terms of penetration of technology products.

NSBL is a JV between SBI and the Employees Provident Fund, Nepal, the spokesperson said.