Sitharaman inaugurates SBI branch in Sri Lanka’s Trincomalee

Union Finance Minister Nirmala Sitharaman on Thursday inaugurated a State Bank of India (SBI) branch in Sri Lanka’s Trincomalee metropolis, throughout her ongoing go to to the island nation.

In a submit on X, the Union Finance Ministry mentioned that Governor of Eastern Province Senthil Thondaman, India’s High Commissioner to Sri Lanka Gopal Baglay and SBI Chairman Dinesh Khara had been additionally current on the inauguration.

“After inaugurating the branch, Sitharaman appreciated that SBI, with its 159 years of serious presence, is the oldest financial institution in Sri Lanka and continues to develop its enterprise at dwelling and overseas,” it added.

During the Sri Lankan financial disaster, SBI’s presence in the island nation paved the way in which for a clean extension of line of credit score value $1 billion by the Indian authorities to Sri Lanka, the Ministry mentioned.

Besides, SBI Sri Lanka continues to play a significant function by supporting corporates in worldwide commerce.

“SBI in Sri Lanka continues to scale up remittance by means of a strong #DigitalPlatform through SBI Sri Lanka YONO app and on-line banking, in addition to the in-branch operations,” the Ministry mentioned in the X submit.

Sitharaman, who’s on a three-day go to to Sri Lanka, will inaugurate a branch of SBI in Jaffna on Friday.

(With inputs from IANS)