Banks have brought the focus back on physical network expansion as they aggressively open branches belying expectations that growing digital transactions could reduce the dependence on physical branches.
HDFC Bank is set to open 600 branches in semi-urban and rural areas over the course of fiscal year 2024, with more additions also planned in urban locales. ICICI Bank is also expected to open more than 500 new branches across geographies while Kotak Mahindra Bank will open 150 branches in the new fiscal year.
Source:
Economic Times
