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Our Bureau

Visakhapatnam, April 21 SBI, Visakhapatnam module, is planning to set up 29 more branches during the current financial year and also 130 new ATMs, according to the Deputy General Manager, Mr Kalyan R. Mohanty.

Mr Mohanty, who on Monday assumed charges as the DGM of the module, consisting of the four districts of Srikakulam, Vizianagaram, Visakhapatnam and East Godavari, said most of the new branches would be in rural and semi-urban areas. Currently, he said, there were 219 branches in the four districts.

He said the priority sector lending in the module amounted to 54 per cent against the prescribed 40 per cent and agricultural financing to 21.32 per cent.

He said 24,057 self-help groups of women were given credit linkage during 2007-08 with an outlay of Rs. 297.66 crore, which was the highest in the State.

He said the bank earned profit of Rs 196 crore during the year and the NPA level had been brought down to 1.22 per cent. It would further be reduced to less than one per cent during the current financial year, he added.

He said one notable area of financing was to the nurseries situated at Kadiyam in the vicinity of Rajahmundry in East Godavari district.

He said the bank was financing 630 nurseries in the area and the procedures had been simplified to increase the market share.

As a part of its community service, Mr. Mohanty said, the bank would adopt 250 schools in the module during the current financial year.

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