In a significant step toward deepening 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 in Guwahati on Friday.

The new branch marks a historic milestone as the first banking facility in Pherzawl district. For years, residents had to travel long distances to access basic banking services. With the Parbung Branch now operational, customers can conveniently avail themselves of a wide range of financial services, including savings and current accounts, deposits, and other essential banking products.

Deputy Commissioner of Pherzawl, Mannuamching, IAS, who attended the virtual inauguration along with district officials, welcomed the initiative and highlighted its administrative importance. She stated that the presence of a nationalised bank would significantly improve governance efficiency and strengthen public service delivery. “Pherzawl is no longer an unbanked district,” she remarked.

D. Lalmuon K. Gangte, Chief Manager, SBI AMCC Churachandpur, noted that the branch is expected to encourage savings, foster entrepreneurship, and drive sustained economic growth in the region.

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

Local residents termed the opening of the branch a transformative development, bringing reliable banking services closer to their homes and marking a long-awaited step toward inclusive economic progress.