The Hindu Business Line : SBI to hold Maha Utsav in Vizag

STATE Bank of India is holding a three-day Maha Utsav - 2004 here in the Viswa Priya Function Hall on the beach road from October 10 to disburse loans in the personal segment.

Mr Supriyo Kumar Chaudhuri, the Deputy General Manager, said 28 branches in the zone would participate in the Utsav. ``Housing loans, education loans, vehicle loans and other personal loans will be sanctioned at concessional rates of interest and we want the public to make use of the opportunity. The concessions in the interest rates will be in the range of .25 per cent to 1.75 per cent,'' he said.

He said there would be no processing fees for loans sanctioned during the Utsav and it would also organise cultural programmes during the evenings. A special museum would be set up to make the public aware of the history of the bank and its role in national development.

He said the bank was planning to sanction Rs 50-100 crore during the Utsav and the loans would soon be disbursed.

On the performance of the SBI, Visakhapatnam zone, he said the bank had 193 branches in the four districts of Srikakulam, Visakhapatnam, Vizianagaram and East Godavari. The deposits in the zone amounted to Rs 3,080 crore and the advances to Rs 1,730 crore. The gross NPA was 2.75 per cent.

Mr Chaudhuri said one more branch would be set up soon here at Santhipuram and seven more ATMs would be commissioned by the end of the financial year in addition to the existing eight.

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