ON FUTURE PLANS: Deputy General Manager of SBH S. Vijay Kumar addressing presspersons in Gulbarga on Wednesday.

GULBARGA: The State Bank of Hyderabad (SBH) has set a target of increasing deposits during the current year by another Rs. 4,655 crore to reach a deposit level of Rs. 40,716 crore and increase the advances from last year's Rs. 23,043 crore to Rs. 26,864 crore during the current year.

Deputy General Manager of the bank S. Vijay Kumar told presspersons on Wednesday that the bank had launched a deposit mobilisation campaign in all its branches for a fortnight from September 11 offering an additional interest of 0.5 per cent on term loans for a minimum period of one year. For those depositing more than Rs. 1 lakh, the bank was offering a free accident insurance coverage of Rs. 1 lakh as part of the campaign.

Credit-deposit ratio

He said the bank had surpassed the benchmark of the Reserve Bank of India in maintaining a high credit-deposit (CD) ratio and also keeping the non-performing assets (NPA) at a low 0.08 per cent. He said the bank's zonal office in Gulbarga had fixed a target to increase deposits to Rs. 4,000 crore during the current year from Rs. 3,258 crore.

Branches in Bangalore

Mr. Kumar said the bank proposed to open three more branches of the bank in Bangalore at HRB Layout, RT Nagar, and Banashankari 3rd Stage by the end of November this year.

Mr. Kumar said a special drive would be launched by the bank to identify eligible SHGs and provide them facilities at the earliest. The bank had selected Gulbarga and Aurangabad district in Maharashtra for laying stress on providing linkage to the SHGs on a priority basis this year.

Mr. Kumar said all the bank branches in the State had been computerised and interlinked. He said as per the decision of the Union Government to include Gulbarga in the ambitious programme of "Financial Inclusion" in which all the households which does not have bank accounts would be brought under the banking network.

The bank's branches in Gulbarga district had already started identifying families without bank accounts with the help of NGOs. As per the estimation, before the deadline of December 31 this year, 40,000 new accounts would be opened by the branches of the bank.

The bank on its own had chosen Koppal district under the Financial Inclusion programme and the survey had begun to identify the families without bank accounts.

Assistant General Managers K. Deena Ratnakar, K. Krishna Rao, Meera Deshpande, and R.S. Chandrakant were present.

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