Financial Daily from THE HINDU group of publications
Thursday, May 27, 2004
Financial Daily from THE HINDU group of publications Thursday, May 27, 2004 |
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Money & Banking
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Public Sector Banks SBI Chennai Circle to focus on retail lending Our Bureau
Chennai , May 26 THE Chennai Circle of the State Bank of India will focus on retail lending, Mr Abhijit Datta, Chief General Manager, said today. The Circle proposes to lend Rs 1,000 crore this fiscal to the retail sector alone. Around 50 per cent of this amount will be for the housing sector. Mr Datta said that the Chennai Circle would be setting up 170 personal finance cells in various branches to focus on marketing various products. He said that the Circle expects to lend about Rs 1,000 crore for the commercial sector. The bank also hoped to give a thrust to trade advances - for wholesalers and retailers - and extensive surveys were being conducted in Chennai, Madurai and Coimbatore for this purpose, he said. Speaking on the technology plans, Mr Datta said that 10 branches had already been brought under the new core banking solution of the bank. Another 190 would be added in the current year. Mr Datta said that the business volumes of the Circle which were Rs 28,000 crore, (comprising Rs 16,000 crore of deposits and Rs 12,000 crore of advances), as of March 2004, would grow by another Rs 5,000 crore in this fiscal.
More Stories on : Public Sector Banks | Retailing | Credit Market
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