The Hindu Business Line : SBI Karnataka Circle proposes 12 more branches

Mangalore March 29 The Karnataka circle of State Bank of India (SBI) seems to be upbeat about the banking scenario in the State, if the plans of the bank are any indication.

Expansion of the network of the bank — both in terms of branches and ATMs — and introduction of several new services are on the cards.

Ms Mahpara Ali, Chief General Manager of SBI Karnataka Circle, who was here on an official visit, told Business Line that the bank is planning to open 12 more branches in the State in the next three months. Added to this, the bank will open 50 more ATMs in the next few weeks.

At present, the bank has 324 branches and 295 ATMs in the State. "We are proposing to open branches in a fairly big way in the next fiscal," she said. The bank is on 100 per cent core banking solution in the State.

EASY TRADE

Ms Ali said that the bank would soon introduce online trading in shares in Bangalore. Stating that the bank has already trained its people for this, she said initially the service would be launched in some select branches in Bangalore. "Some of our young customers have already opened demat accounts with us," she said. The service is likely to be introduced in the next 15 days.

Mr Partho Bhattacharya, General Manager, who was present on the occasion, said that the service would be called as `Easy Trade'. It will be extended to other cities in a phased manner.

Ms Ali said recently the bank entered into an agreement with the Karnataka State Road Transport Corporation for booking of tickets through Internet. The bank has also tied up with the Bangalore Electricity Supply Company for the payment of electricity bills through ATMs.

The bank, in association with Manipal University, has launched a combo card for the students of Manipal University to bring cash-less transaction environment inside the university campus.

The same card is being used as an access control and a smart card. All the new products of the bank have received good feedback, she said.

FINANCIAL INCLUSION

Gulbarga, where SBI is the lead bank, is the second district in the country to come under 100 per cent financial inclusion. She termed it as a commendable achievement, as the literacy rate in that district is 32 per cent. Ms Ali said that the bank is also giving importance for semi-urban and rural areas. The bank's growth in agriculture sector is unprecedented. During last fiscal, the growth was around 35 per cent, she added.

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