The largest lender of the country, State Bank of India has launched a center for financial advisory services in Hyderabad. With the first of its kind being set up, the bank plans to bring another 50 such centers in the country.

This special center will offer services like insurance planning, retirement planning and mutual fund advisory to people.

The bank had also come up with 'Akshayapatram', a scheme to advise retiring employees in efficient wealth management and retirement benefits.

The center was inaugurated by C Narasimhan, deputy managing director (corporate strategy and new businesses) at Hyderabad.

"The services are extremely relevant in the current context, given the many investment options that are available in the market, and considering the inherent complexities, the need for professional and trusted guidance in making the right choice cannot be over emphasised," he said.