State Bank of India inaugurated a new Local Head Office (LHO) in Pune on April 24, 2026, marking a strategic push to deepen its regional presence and enhance operational efficiency in Maharashtra.
The LHO was inaugurated by Nirmala Sitharaman in the presence of M. Nagaraju, SBI Chairman Challa Sreenivasulu Setty, and other senior officials.
“The decision of State Bank of India to move its Local Head Office to Pune to serve the rest of Maharashtra, with districts towards the east and southeast of the state reflects the Bank’s nimble, dynamic, and responsive approach. This move is an indication of how SBI is moving forward to meet the aspirations of Viksit Bharat 2047,” said Sitharaman.
The Pune LHO will handle operations for most parts of Maharashtra, while Mumbai continues to serve the financial capital and Goa. The move follows the bifurcation of the Maharashtra circle from the Mumbai circle.
“SBI’s strengthened presence in Maharashtra through this new LHO is aligned with State Govt.’s own vision of economic development,” said Nagaraju.
SBI Chairman Setty said, “The inauguration of our Local Head Office in Pune reflects our intent to be closer to our customers and be more responsive to regional opportunities. As SBI aspires to increase its balance sheet’s size to 25% of the Country’s GDP from existing 20%, this step is both timely and forward-looking…”
SBI also announced a CSR contribution of ₹22.15 crore towards projects in water conservation, education, healthcare, and rural livelihoods.