Hyderabad : India's largest bank, State Bank of India (SBI), has been in a hurry in the last few years to shed its sleepy, PSU image. After its aggressive retail play, it's taking the fight straight to private and foreign banks by targeting their preferred clientele - the very rich. Particularly, those who count their bank balance in the multiples of eight digits.

To match its rivals' suite of services like private bankers, portfolio management and other customized offerings to the mega wealthy, SBI launched a 'crorepati only' branch in Hyderabad on Sep 2. Located in the city's upmarket Banjara Hills area, the only criterion required to open an account in the branch is simple: a minimum opening balance of Rs 1 crore. That too is possible only if you have an invitation from the bank.

Christened the 'Kohinoor Banjara Premium Banking Centre' (after the famed Kohinoor diamond that was discovered here), the swanky branch, spread over 4,000 sq ft, will see SBI roll out the red carpet for Hyderabad's nawabs, nouveau and old. It will offer them specialized banking facilities like personalized relationship managers, 24/7 lockers, extended banking hours, doorstep pick-up and drop facilities, in addition to pampering with five-star amenities at the branch.

So the city's swish set, most of which is concentrated around the Banjara Hills and Jubilee Hills area, can bank king size while they chill out in the plush comforts of the branch's 'Nizam lounge', hold business conferences in its WiFi enabled 'Sapphire' conference room and sip a cuppa and munch on refreshments in the 'Pearl' coffee bar.