Public sector banks have come a long way to compete head on with the various private and international banks. Yesterday, I had the pleasure to visit the Gomti Nagar Branch of SBI. Its situated right in the center of one of the busiest malls in the capital. I must say the deco was eye catching. There was a luxurious lounge with a view, a plasma tv where you can surf the latest channels, a foot massager, all customers were greeted with a cup of hot coffee, etc etc. To add to my delight, the branch is open till 9pm. Need I say more.
Even though, I had no intention to bank/open the account, but as I was window shopping I could not stop but step into it. The best part is that SBI will make you their premium account holder if you just maintain 25,000/- rupees. (As compared to 3 Million required by Citi and other international banks, and 1-5 Lakhs required by ICICI Bank). Also SBI has branches in almost all the nook and cornor of the country. I wonder how can anybody compete against them?
PS: I wanted to open an account in this branch, but was told this branch exclusively serves female customers.