A branch of the State Bank of India was under construction at the old swimming pool building since early summer, 2018. It recently commenced operations for campus residents, with effect from Monday, July 16, 2018. The branch timings are scheduled to be 10.30 AM to 4.30 PM on weekdays and on the first, third (and fifth) Saturdays of every month. This newly-constructed branch currently offers only the basic facilities, such as opening savings accounts and bank branch changes, which suffice to cater to the new entrants who have just joined the institute this July. Some of the other proposed facilities of the branch like ATM and cash deposit are being developed, and are estimated to begin operation within a couple of months.
For now, campus residents have been requested to avoid parking vehicles along the swimming pool road. Shortly, the Gate will be replaced by the Estate Office. Vehicles can only enter through the parking area adjacent to Hostel 1.
Initially, the Hostel Affairs council of IIT Bombay had proposed the construction of an ATM plus e-corner within the premises of Hostel 15 and 16 for better accessibility. Later, this proposition was tweaked to include a food-court near Hostel 15, and the institute decided to carry forward the plan for an SBI branch at the old swimming pool area. The primary motivation behind this move was to aid institute residents who faced issues due to the overloading of the SBI branch right outside the main gate. Now, with two branches in operation, the residents can expect a relatively smoother sailing.
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