The Hindu Business Line : Bank of India crosses 100% CD ratio

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Kochi Feb. 13 Bank of India has reported a credit-deposit ratio of over 100 per cent in January 2007 for the Kerala region. This is from a low of 62.4 per cent reported for 2003-04, Mr M. Balachandran, Chairman and Managing Director said. It had grown to 96.6 per cent during 2005-06.

Addressing a press conference, he said that deposits in the 73 branches in the State have grown to Rs 975 crore as on January 2007, from Rs 851 crore last year. Advances have grown to Rs 979 crore from Rs 822 crore last year.

The bank is represented in all the districts of the State other than Idukki and Wayanad. A new branch was to come up in Kakkanad in Kochi during the current year.

The bank has plans to open 10 more branches in the State during next year. While all the 73 branches in the State are computerised, 45 of them offer the centralised core banking solutions. Reacting to the good response to the `pension at doorstep' scheme that was introduced by Bank of India as a pilot project in select places in Maharashtra, Mr Balachandran said that the bank was thinking of extending the scheme to other States, including Kerala as well.

The scheme enables the pensioners to take delivery of pension at their place of residence through the Department of Posts and comes without any additional cost to them. The scheme is open to all principal and family pensioners drawing their pensions through the Bank of India branches.

The identity would be ascertained based on the bank's pensioners' credit cards and a maximum of Rs 5,000 per month will be disbursed through the scheme.

The service charge of Rs 35 per delivery to be paid to the Post Office will be borne by the bank.

More Stories on : Public Sector Banks | Credit Market | Kerala

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