India's top banks recorded a staggering ₹3,878 crore expense for printing and stationery in FY25, highlighting the limits of purely digital banking.
SBI and HDFC Bank led the expenditure, accounting for nearly half of the total combined outlay.
The massive paper consumption is a byproduct of India's "phygital" model, where banks are expanding physical branches into Tier-3 and Tier-4 cities to secure deposits.
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