Planned rationalisation of operations and examination of a total of 216 overseas operations of the public sector banks (PSBs) was undertaken last year, sources said. Following the review, as many as 35 overseas operations were closed while 69 are under process or being considered for rationalisation, sources said. As on January 31, 2018, PSBs had about 165 overseas branches, besides subsidiaries, joint ventures and representative offices. State Bank of India (SBI) has the largest number of overseas branches (52) followed by Bank of Baroda (50) and Bank of India (29). The country’s largest lender SBI led the pack with nine of its overseas branches in the red.

Source: Mint January 06, 2019 09:22 UTC