The Hindu : Karnataka News : SBI to offer extensive assistance to SHGs

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Monday, Nov 05, 2007
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Karnataka

Karnataka

SBI to offer extensive assistance to SHGs

Staff Correspondent

They have transformed life in villages by improving their economic conditions

The bank has a tie-up with Bhoomi project
of the State
One per cent of its total profits earmarked for social welfare

DAVANGERE: The State Bank of India, which clinched the top spot in providing credit linkage to women self-help groups in the State among banks, has decided to offer extensive help to SHGs owing to their reputation of having transformed life in a large number of villages by improving the economic conditions of resident families.

Speaking to presspersons here on Sunday, Partha Bhattacharya, General Manager of the bank, said that many SHGs had created productive assets and had created many employment opportunities particularly for women. Moreover, a large number of women had become financially strong with the creation of SHGs, he said, adding that they had developed an excellent reputation with regard to repayment of loans.

This was the main reason why banks have decided to offer them greater support and assistance, he said. The SBI will set up 15 more branches in Karnataka by December 2007.

As many as 53 branches will be established including two in Davangere by 2008. The bank has recruited over 109 marketing and recovery officers to popularise its “new and innovative” services to customers.

In reply to a question, Mr. Bhattacharya said that over 6,000 villages in the country had not yet been covered by the banking system, and added that SBI had chalked out a definite strategy to reach out to all “un-banked” areas in the country.

The bank has a corporate tie-up with the “Bhoomi project” in the State and had also simplified the rules governing distribution of loans to farmers against lands.

It had already provided online services in which money transfers and electricity bill payments could be made. Customers could also book KSRTC and railway tickets through this facility. Mr. Bhattacharya said the bank had reserved one per cent of its total profits for social causes and had donated expensive medical equipment to different hospitals. Similarly, it had adopted a large number of villages in the State and had also taken care of the education needs of many girl children. He said that for the benefit of the salaried class, the bank had introduced pay-role accounting in which the employer could deposit their salaries without them having to open an account. He further said that the overall performance of the bank was tremendous and its share price would appreciate sharply in the coming days. Senior officers of the bank Ramakrishna and Narasimha Murthy were present. Earlier Mr. Bhattarcharya had inaugurated the housing and car loan campaign of the bank.

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