The Hindu : Andhra Pradesh / Visakhapatnam News : SBI main branch shifted

Online edition of India's National Newspaper
Tuesday, Feb 22, 2005

Andhra Pradesh

Andhra Pradesh - Visakhapatnam

SBI main branch shifted

By Our Staff Reporter

VISAKHAPATNAM, FEB. 21. The Visakhapatnam main branch of State Bank of India was shifted to a new premises at Rednam Gardens (South Jail Road junction) on Monday.

Its Deputy General Manager, S.K. Choudhary, formally inaugurated the new building.

Speaking to the media at the inaugural function, Mr. Choudhury, said SBI was the leading bank in advancing personal loans in Srikakulam, Vizianagaram, Visakhapatnam, East Godavari districts. The target for the Visakhapatnam module for the current financial year was to advance Rs. 420 crores as loans and secure deposits to the tune of Rs. 500 crores.

Extension counter

Mr. Choudhary said there was a plan to open an extension counter in Old Town area. A `Retail assets centrally processing centre' was being established on the new premises for speedy clearance of housing, personal and car loans.

The SBI Assistant General Manager, K. Rammohana Rao, said a decision had been taken to double the business of the branch in the next two years.

The AGMs -- M.S.N. Sarma, P. Rajeswara Rao, J.S.S.P. Sarma and P.V.S.S. Swamy -- the SBI Officers Association chief regional secretary, S.N. Sahu, the SBI Employees Union secretary, J.P. Sarma, the chief managers, R. Satyanarayana, A.S. Prakasa Rao and T. Subrahmanyam, were present.

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