State Bank of India (SBI) has opened a dedicated defence banking branch to cater to the needs of the Defence forces here. “This is a new concept and it is the country's first defence banking branch,'' SBI said in a release.

SBI had already tied up with defence personnel with a special package for payment of salaries through SBI's corporate Internet banking.

Mr A. Krishna Kumar, Managing Director and Group Executive, Corporate Centre, SBI, Mumbai, had inaugurated the branch in the presence of Mr Rakesh Sharma, CGM, SBI-AP here on Wednesday.

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