SBI  Opens First Branch in Pherzawl district

In a landmark move aimed at strengthening financial inclusion in remote Manipur, the Chairman of State Bank of India, Challa Sreenivasulu Setty virtually inaugurated the SBI Parbung Branch from the bank’s Local Head Office at Guwahati on Friday.

The establishment of the branch is being hailed as a major milestone, marking the first banking facility within Pherzawl district. Residents previously had to travel long distances for routine banking transactions. With the branch now operational, customers will have easier access to a comprehensive range of services including savings and current accounts, deposits, and other essential financial products.

Deputy Commissioner of Pherzawl, Mannuamching, who attended the virtual inauguration alongside district-level officials, welcomed the initiative. Emphasising its administrative significance, she noted that the presence of a nationalised bank would enhance governance efficiency and public service delivery. “Pherzawl is no longer an unbanked district,” she remarked.

D. Lalmuon K. Gangte, Chief Manager, SBI AMCC Churachandpur, highlighted that the new branch would promote savings, encourage entrepreneurship, and contribute to sustained economic growth in the region.

The inauguration ceremony was attended by officials from the district police, SBI representatives, members of civil society organisations, and the Parbung Village Authority.

Local residents described the opening of the branch as a transformative step that brings reliable banking services closer to their doorsteps, expressing gratitude for what they termed a long-awaited step toward inclusive economic growth.