Posts Tagged sbi
SBI opened its NRI branch at Adyar in Chennai
Posted by ganesh in Bank, Chennai, Communication, Departments, Information, programme on April 15th, 2010
State Bank of India (SBI) on Monday opened its NRI branch at Adyar in Chennai. The new branch is located at New No. 63 / Old No. 28, Krishna Niwas, Second Main Road, Gandhi Nagar, Adyar.
Speaking to reporters, Hannah Rachael Mani, Regional Manager, Super Circle of Excellence II, said the NRI branch has been opened exclusively to cater to the needs of the bank’s NRI customers under one roof.
She said that realising the potential available in the area, the bank felt the need for opening one more full fledged branch for NRIs in the southern zone of Chennai.
She further added that the Adyar NRI branch with its state-of-the-art facilities would be a boon to all NRI customers with facilities such as prompt opening of NRE/FCNR accounts with internet banking, ATM card, cheque book and mobile banking facilities.
Other services offered by the branch include acceptance of foreign currency deposits in six major currencies, loans against NRE and FCNR deposits, swift facilities for inward and outward remittance, credit card for and housing loans for NRIs.
100 million dollars Oman India fund will invest in launched shortly
Posted by ganesh in Bank, Chennai, Communication, Others, government, programme on January 25th, 2010
A 100 million dollars Oman India fund that will invest in various sectors in both countries is expected to be launched shortly. Oman is looking forward to invest in India’s small and medium enterprises.
The joint investment fund whose corpus will be contributed equally by both countries will be launched soon,” Oman’s Minister of Commerce and Industry Maqbool Ali Sultan told IANS while he was here for a trade summit organised by the Confederation of Indian Industry.
In November 2008, India’s largest commercial bank State Bank of India (SBI) and Oman’s State General Reserve Fund (SFRF) signed a memorandum of understanding (MoU) to promote a joint investment fund with a $100 million corpus to be contributed equally.
The Oman India Fund is the first such fund to be set up by India in partnership with another country. It is to invest in infrastructure, tourism, health, telecom and real estate sectors promoted by the private sector in both countries.
The fund size can be increased to $1.5 billion through debt or by accepting new partners.
The MoU is valid for two years from the date of signing and can be extended by mutual consent of the two parties.
“Seventy five percent of Omanese exports comprise of oil and the balance fertilisers and minerals,” he said. The non-oil products are exported to GCC (Gulf Cooperation Council) countries and other Arab nations.
According to Sultan, bilateral trade between Oman and India is in the region of $2.5 billion and it is healthy. The bulk of Oman’s exports to India are oil, gas and fertilisers.
The product basket is getting expanded now with Indian companies importing limestone, chrome and copper.
Citing the presence of several big Indian companies like Larsen and Toubro, Brakes India, Bank of India and others in Oman, Sultan said the focus is on inviting small and medium enterprises (SME) to enter into joint ventures with local companies in the fields of information technology, energy and research and development.
Over 100 Indian companies operate in Oman while over 30 Oman companies are present in India.
The Oman India Fertiliser Company based in Oman is a three way joint venture between Oman Oil Company (owning 50 percent stake) and the balance shared equally between Indian Farmers Fertilisers Cooperative Ltd and Krishak Bharati Cooperative Ltd.
In India Oman Oil Company has invested in the Bharat Oman Refineries Ltd that is promoting the six million tonne refinery at Bina in Madhya Pradesh.
As a part of its community services banking activities, State Bank of India has donated a haemodialysis system to the Public Health Centre (PHC)
The equipment, worth Rs.5 lakh, was handed over by Chief General Manager, Chennai Circle, J.Chandrasekaran on Tuesday.
Speaking at the function, he said the machine would help patients with renal failure visiting the PHC.
The 120-bed hospital already has a haemodialysis system which nearly 30 patients use every month.
The new equipment has upgraded facilities and would benefit more patients, he said.
Last year SBI had donated nearly Rs.1 crore as part of its community services banking activities.
PHC Director M.K. Srinivasan and Bank General Manager V.G.Kannan and Regional Manager V.S.Thirumalaiappan participated in the function.
customers have refrained as ATMs develop snag in Dindigul
Savings bank account holders, mostly retired government staff, teachers and police personnel, have been running from pillar to post to withdraw their salaries credited in the State Bank of India, thanks to the malfunctioning of almost all Automated Teller Machines installed by the bank in the town.
All the ATMs in the main branch of the SBI did not function since Monday morning. Already, the bank’s ATM at railway station was getting paralysed often. So many customers have refrained from using it.
Only the ATM on R.M. Colony has been functioning without any problem. Unfortunately, that too got paralysed.
Already, the SBI does not allow customers to use bank’s cash counter to draw money below Rs.40,000. With no option, the salaried class solely depended on the ATMs only.
Common sight
It has become a common sight to see customers waiting in a serpentine queue for hours to draw cash from ATM of he main branch.
A majority of the customers waited outside the ATM centre accepted that technical snag in ATMs were common thing.
They were dissatisfied as there was no proper clarification from the bank officials for their doubts.
Teachers and government staff, who came on permission, were irritated by they delay and as they were not able to get proper information regarding the snag in the ATM.
Why the bank did not allow us to draw money using withdrawal slip, asked another pensioner.
The agony of customers did not end with this.
Savings bank account
The main branch had already stopped opening of savings bank account for the past five days.
It stopped even distributing applications for opening SB accounts.
When some persons, mostly students, approached the branch to open an SB account, the staff told them to come after 15 days.
“We have stopped opening SB accounts temporarily,” said a managerial level officer who refused to disclose his name. “Now, we have started opening SB accounts only for government staff. We will consider others later.”
“SBI facing acute shortage of officers” in Cuddalore
CUDDALORE:
State Bank of India is facing a severe shortage of officers at the national level and the problem is acute in Tamil Nadu and Puducherry region, according to D.S. Rishabadas, general secretary of the State Bank Officers’ Association, Chennai circle.
He told The Hindu here on Sunday that it was almost 17 years since probationary officers were last recruited. The opening of new branches and installation of Automated Teller Machines (which might run out of cash anytime) had increased work load. Therefore, to cope with the situation, bank managers had to work 12-14 hours a day.
More branches
The association favoured starting more branches with adequate staff strength and facilities. Despite two years’ of global economic meltdown, the Indian banking sector remained robust, Mr. Rishabadas said.
SBI to lend Rs. 79 crores to self-help groups in krishnagiri
Posted by sugan in Krishnagiri on July 10th, 2009
KRISHNAGIRI:
State Bank of India will lend Rs. 79 crores as revolving fund to women Self-help groups under the Integrated Village Development Plan (IVDP) during the current fiscal, said K.R. Rajaraman, Regional Manager, Regional Business Group, Salem, in Krishnagiri on Thursday after the annual action plan meeting held at the IVDP head office. The meeting was presided over by Kulandei Francis, president, IVDP.
Mr. Kulandei Francis told The Hindu that the money would be distributed to 2100 SHGs in these districts during this financial year. Last year SBI disbursed Rs. 50 crore as loans to the SHGs.
This fiscal
During the current financial year, apart from SBI, Bank of India, Pallavan Grama Bank and Indian Bank would also extend revolving fund to the rest of the groups. Altogether Rs. 200 crores would be disbursed to the SHGs during this year, Mr. Francis added.
The branch-wise targets for disbursing the amount were: Palacode Rs. 20 crores, Kaveripattinam Rs. 22 crores, Marandaalli Rs. 15 crores, Pochampalli Rs. 8 crores, Royakottai Rs. 7 crores, Krishnagiri Rs. 5 crores, Nagamangalam Rs. 1 crore, Kadathur Rs. 50 lakhs and Dekanikottai Rs. 50 lakhs.
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