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Tuesday, December 16, 2014

SBI to increase branch network in Karnataka

State Bank of India (SBI) is planning to close the financial year of 2014-15 with a branch network of 750 in Karnataka.

In an informal chat with presspersons on the sidelines of the inauguration of an e-corner of the bank at Mangaluru main branch on Tuesday, Rajni Mishra, Chief General Manager of SBI, Bengaluru circle, said that the bank has a dominant presence in the State with 690 branches.

The bank is planning to add another 60 branches in Karnataka by the end of the current financial year.

“We are planning to open more branches in the remotest part of Karnataka and planning to reach smallest of farmers,” Mishra said.


The bank has around 30 e-corners in most of the major centres in the State. In e-corners, customers can use ATMs, cash deposit machines, cheque deposit machines, and self-service kiosks for passbook printing, among others. With this, customers do not have to wait in a queue at the branch.

Tie-up with KMF

Mishra said that the bank has entered into a tie-up with the Karnataka Milk Federation (KMF). Under this, the bank has financed more than 1,000 dairy farmers in various parts of the State.

In usual scenario, KMF makes payments to farmers at the end of the month for the milk they supply to the federation. Under this tie-up, farmers get cash instantly from the bank. It is to facilitate farmers to have ready cash without having to wait for KMF to settle their bills, she said.

In Karnataka, the bank has achieved a deposit of Rs59,000 crore and advances of Rs34,000 crore, she added.

Source : Thehindubusinessline


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