SBI Has Highest Number of Branches Based at Rented Locations

New Delhi: State Bank of India (SBI), the country's largest lender, has the highest number of branches running from rented facilities among public sector banks.

A total 85,356 branches of all public sector banks were running from rented buildings.

As of December 19, 2014, as many as 15,570 branches of SBI were running from rented accommodations, followed by Punjab National Bank with 6,596 such branches.

Canara Bank was running 5,523 branches from rented places, and Bank of Baroda 4,865 branches. The numbers of such branches for Bank of India and Union Bank were at 4,516 and 4,109, respectively.

However, as many as 4,699 branches of PSU banks running from rented facilities were pending lease renewal, official data showed.

"Government has issued an advisory to all public sector banks that banks must ensure to renew all leases as per the contractual arrangement," according to the data report.

Also, government has asked PSU banks to list out the pending cases for renewal in their boards once in six months.