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Our Bureau

Thiruvananthapuram, Oct. 24 South Malabar Gramin Bank has opened a branch at Nedumangad, which is its third branch in Thiruvananthapuram district, on Wednesday.

Presiding over the function, Mr N.S. Bose, Chairman of SMGB, said that the total business of the bank had crossed Rs. 3,565 crore. The credit ratio till September 30 stood at 111 per cent.

He said that the bank opened 54,251 no-frills accounts under the total financial inclusion programme.

The bank had also written off overdue interest to the tune of Rs. 9.08 crore benefiting 12,516 farmers. Also, debts amounting to Rs. 24.17 lakh, in the name of farmers who committed suicide, had been written off.

More Stories on : Regional Rural Banks | Kerala

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South Malabar Bank branch

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