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State Bank of India earns profit

By Our Staff Correspondent

BHOPAL, JUNE 13. The Bhopal Circle of State Bank of India (SBI) covering Madhya Pradesh and Chattisgarh earned a profit of Rs. 351 crore in the financial year 2003-2004 as compared to Rs. 326 crore in the previous fiscal.

The Bhopal Circle of SBI had deposits touching Rs. 15082 crore and advances to the tune of Rs. 7551 crore till the end of March 2004.

This was announced by the Chief General Manager of SBI Bhopal Circle, S. Bhattacharyya in the State capital last night. He informed newspersons that SBI has deployed 50.07 per cent of its deposits in the State itself as advances. Loans extended to the priority sector by the bank are to the tune of Rs. 2841 crore, he said adding that the Circle has 50 lakh depositors and more than 6.18 lakh borrowers.

The Bhopal circle of SBI has a network of 13 branches catering exclusively to the corporate and large commercial customers and the focus of its remaining 664 branches look after the needs of the Personal and Development Banking segments.

Mr. Bhattacharyya stated that with the present focus on Personal Banking, the advances to individuals have gone up by more than 270 per cent since 2001 (from Rs. 846 crore to Rs. 2304 crore). Such advances now contribute nearly 31.80 per cent of the total non-food advances compared to 16.40 per cent in 2001.

For the convenience of farmers, Mr. Bhattacharyya said that the SBI has issued 46233 Kisan Credit Cards during the financial year 2003-2004 taking the total number of cards issued to 140000.The bank has even issued 2167 Kisan Gold Cards to farmers in Madhya Pradesh and Chattisgarh. The Bank has also taken special steps to provide a helping hand to the self-help groups (SHGs) through the NGOs operating in various parts of the Circle. During the year ahead, Mr. Bhattacharyya said that the Circle plans to acquire another 3 lakh deposit customers and expand its deposits by Rs. 1800 crore. The bank will inject Rs. 300 crore in commercial advances and the same amount in the agriculture sector.

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