The State Bank of India has opened a new banking facility geared toward high net worth customers.

Hornbill Premium Banking Centre, the new SBI unit, caters to "high-value customers seeking an exclusive banking experience" and addresses the problem with long queues for a single transaction.

The timing of this facility's launch is appropriate, as India is listed as the fifth in the world in terms of the number of high net worth individuals, according to a 2013 study by Knight Frank. The same report also said that there will be an increase in the number of billionaires in Mumbai by 137 per cent and by around 120 per cent in Delhi.

HPBC will cater exclusive personal services, with the other SBI branches will continue to take care of regular banking transactions.

"We'll have a limited number of customers but we'll try to give the best banking facilities," said Biswajeet Bhattacharjee, assistant general manager of SBI Dimapur, in a statement.

State Bank of India is a government-owned commercial bank headquartered in Mumbai. As of December 2012, it lists over 15,000 branches, including 157 foreign offices. It is the largest financial services firm in India in terms of assets.