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R.K. Dubey, chairman and managing director of Canara Bank, has launched the ‘inclusive growth campaign’ of South Malabar Gramin Bank at Malappuram.
SMGB has introduced several innovative products like Sneha Card for freeing villagers from the clutches of money lenders and then general purpose credit card, joint liability group loans, SHG group loans etc on the occasion.
Dubey on the occasion declared open 19 branches of the bank in various parts of the state and 10 ATM’s in seven districts. He also launched a micro insurance scheme for SHG and a money transfer facility for NRI customers in association with Western Union Money Transfer.
K.V. Shaji, Chairman, SMGB said that the total business of the bank has touched Rs 8,184 crore as on March 25 with aggregate deposits reaching Rs 4,078 crore and advances at Rs 4,106 crore.
The bank is having 2.9 lakh basic SB accounts with outstanding balance of Rs 44.11 crore. The CD ratio stood at 100.6 per cent and clientele base reached 26.88 lakhs.
The bank has lent Rs 3,241 crore under priority sector comprising of Rs 478 crore to MSME, Rs 142 crore to micro credit, Rs 339 crore to education and Rs 141 crore to housing.
SMGB also tied up with Coconut Development Board to finance copra driers for farmers. With the launching of the scheme Kera Suraksha Kerala Reksha through Kerasree groups, the bank proposeto finance the farmers societies and individual farmers for production of other value added products, he added.
The bank also introduced a new OD facility SMG Karshaka Mitra to farmers for purpose other than crop protection to meet their emergent needs,
sajeevkumar.v@thehindu.co.in
Source: thehindubusinessline
SMGB has introduced several innovative products like Sneha Card for freeing villagers from the clutches of money lenders and then general purpose credit card, joint liability group loans, SHG group loans etc on the occasion.
Dubey on the occasion declared open 19 branches of the bank in various parts of the state and 10 ATM’s in seven districts. He also launched a micro insurance scheme for SHG and a money transfer facility for NRI customers in association with Western Union Money Transfer.
K.V. Shaji, Chairman, SMGB said that the total business of the bank has touched Rs 8,184 crore as on March 25 with aggregate deposits reaching Rs 4,078 crore and advances at Rs 4,106 crore.
The bank is having 2.9 lakh basic SB accounts with outstanding balance of Rs 44.11 crore. The CD ratio stood at 100.6 per cent and clientele base reached 26.88 lakhs.
The bank has lent Rs 3,241 crore under priority sector comprising of Rs 478 crore to MSME, Rs 142 crore to micro credit, Rs 339 crore to education and Rs 141 crore to housing.
SMGB also tied up with Coconut Development Board to finance copra driers for farmers. With the launching of the scheme Kera Suraksha Kerala Reksha through Kerasree groups, the bank proposeto finance the farmers societies and individual farmers for production of other value added products, he added.
The bank also introduced a new OD facility SMG Karshaka Mitra to farmers for purpose other than crop protection to meet their emergent needs,
sajeevkumar.v@thehindu.co.in
Source: thehindubusinessline
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