Home ECONOMY SBI to open 44 new branches in Odisha this fiscal

SBI to open 44 new branches in Odisha this fiscal

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Odisha Sun Times Bureau
Bhubaneswar, June 18:

Expanding its banking presence in the state, the State Bank of India (SBI), the country’s largest public sector lender, will open 44 new branches in Odisha in the current financial year, K M Trivedi, Chief General Manager, SBI, Bhubaneswar Circle, told reporters on the occasion of the 36th foundation day of Odisha Circle here on Wednesday.

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The CGM said SBI has set a target to increase its lending by 12% in the current fiscal. He said SBI is aiming at taking its credit-deposit ratio, which currently stands at 89.42%, beyond 90%.

Besides, the bank is also planning to open 125 new ATM counters in the state and replace 172 old ATM machines with new ones during FY 2015-16. The bank already has 821 branches and 2016 ATMs, 2342 customer service points and 9517 POS machines in the state. This apart, the bank has more than 14,696 delivery points in Odisha, the largest among all banks, he said.

Highlighting the success of SBI in the state since the beginning of its operations at Brahmapur in 1868, he said the bank is serving  1.62 crore deposit accounts and 9.56 lakh loan accounts, 0.71 lakh SME accounts, 5.16 lakh agricultural accounts and 3.69 lakh individual loan accounts across the state.

Besides, the bank has opened an overwhelming 20.10 lakh accounts under Pradhan Mantri Jan Dhan Yojna, the flagship scheme for financial inclusion with total deposit of Rs 91 crores. SBI has also registered 7.94 lakh applications under Pradhan Mantri Surkhya Bima Yojna, 1.78 lakh under Pradhan Mantri Jeevan Jyoti Bima Yojna and 2196 under Atal Pension Yojna, Trivedi said.

As part of its CSR (corporate social responsibility) activity, the bank has donated 592 computers to as many schools and 19 ambulances and medical equipment to several hospitals in the state during the last fiscal, he said.