Private sector lender, South Indian Bank has opened 30 new branches all over India in a single day. The bank did so on Saturday, March 05, 2011.

The total branch count of the bank now stands at 640.

The renovated corporate office of the bank was inaugurated by Wipro CMD, Azim Premji.

"They have to face increased competition and shoulder many new responsibilities, including those pertaining to the rural sector, and serve the less privileged," said Premji.

Speaking of the global financial crisis and its impact, he said, "It did not affect the Indian banking system much due to effective steps taken by the RBI ( Reserve Bank of India )) and the self-discipline of banks in India."

"Financial inclusion in India at present compares poorly with its peers in Asia. Bank branches exist only in nine per cent of villages in India. Rural penetration can be increased only by increased use of information technology," said Premji.