SBI sees bigger growth in MP, Chhattisgarh | india | Hindustan Times
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SBI sees bigger growth in MP, Chhattisgarh

The bank says it plans to add 5.5 lakh new customers in '07 to raise its deposits by Rs 3,200 cr in the two states.

india Updated: Sep 20, 2006 19:08 IST

Buoyed by Rs 578 crore profit earned in Madhya Pradesh and Chhattisgarh in 2005-06, the State Bank of India (SBI) plans to add 5.5 lakh new customers in coming year to raise its deposits by Rs 3,200 crore in the two states.

"During the year ahead, we plan to acquire 5.5 lakh deposit customers and grow by Rs 3,200 crore in deposits in Bhopal circle comprising Madhya Pradesh and Chhattisgarh. Depositors in the circle number over 50 lakh and borrowers 9 lakh," Chief General Manager S Bhattacharya told reporters.

Deposits in the circle up to end of August, 2006 were to the tune of Rs 18,756 crore and advances stood at Rs 12,080 crore, Bhattacharya said, adding that the bank would inject Rs 1,515 crore in commercial advances and Rs 1,200 crore in retail segment.

In the field of agriculture, where its credit has grown to Rs 2,471 crore, the bank plans to pump Rs 900 crore, while Rs 250 crore is sought to be injected by small scale industries and Rs 230 crore in small business enterprises, he said.

The bank also intends to credit link more than 11,000 micro-finance units in the entire geography of the circle, for which the work of opening of savings bank accounts of self-help groups had already started at its branches, Bhattacharya said.

With the present focus on personal banking, advances to individuals have gone up by more than 381 per cent since 2001 — from Rs 846 crore in March, 2001 to Rs 4,069 crore as on August 31, 2006, he said, adding such advances now contribute nearly 5 per cent of the total non-food advances compared to 16.40 per cent in 2001.

For the convenience of farmers, SBI has issued 37,782 kisan credit cards during 2006-07, taking the total number of cards issued by it in the circile to 2,00,000, he said adding the bank has also issued 1,278 kisan gold cards to farmers in the twin states during the current year.

Under the manufacturing, trade and services sectors, the loan portfolio stands at Rs 3,918 crore as on August 31, 2006, being more than 38 per cent of the overall asset portfolio of the circle, while fresh sanctions to the tune of Rs 300 crore was made to the sector under regular schemes this year, he said.

On modernisation, the CGM said the bank is rapidly moving towards a centralised database with a state-of-the-art core banking solution to enable on-line, real-time transaction.

Internet banking for retail customers, using which the customer can view his account, make request for drafts, cheque books and carry out other transactions has been rolled out in 286 branches in the circle, facilitating easier access to bank's services, he said.

Besides, internet banking facilities are being offered to corporates in 96 branches.