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All ATMs will function by May-end: SBI official
Chief General Manager, Administrative and Business unit of SBI, Amaravati, Mani Palvesan, said most of the ATMs were functioning without shortage of cash and necessary steps were being taken to ensure that all ATMs function properly by this month-end after resolving all technical glitches, if any.
Chief General Manager, Administrative and Business unit of SBI, Amaravati, says there is no cash crunch as far as SBI is concerned
Visakhapatnam: Chief General Manager, Administrative and Business unit of SBI, Amaravati, Mani Palvesan, said most of the ATMs were functioning without shortage of cash and necessary steps were being taken to ensure that all ATMs function properly by this month-end after resolving all technical glitches, if any.
The CGM, who paid a maiden visit to the local bank Administrative Office here on Friday, told reporters that the bank had a market share of 35 per cent and in some pockets like Srikakulam, it had gone up to 41 per cent and the SBI was the only bank to open branches where other banks are not willing to open. On credit facilities to various sectors, Palvesan said the bank was active in providing loans to agriculture, food processing, shrimp exports and aquaculture sectors.
Speaking about Prime Minister Awaaz Yojana, the dream project of Prime Minister Narendra Modi, he said that necessary steps had been taken to propel the growth of affordable housing across the country. “As a part of it, the SBI, which has slashed the interest rate by 25 basis points (0.25 per cent) for loans up to Rs 30 lakh, also extended concessions up to 0.35 per cent for builders subject to certain conditions. These measures will go a long way in giving impetus for affordable housing projects in the country,” he said.
The CGM said that the Administrative and Business Unit of the bank was established in Amaravati on April 24 to cover the state of Andhra Pradesh having 1,524 branches and 3,600 ATMs and added that all the erstwhile associate banks were renamed as State Bank of India on April 24 and hereafter, they would be called SBI branches only.
The Amaravati Administrative and Business Unit has a total business of Rs 1.5 lakh crore, of which about Rs 80,000 crore was deposits and the remaining is advances, he said. Bank General Manager Ravindra Pandey said the bank was giving MUDRA (Micro Units Development & Refinance Agency) loans to all the eligible borrowers. Later, the CGM donated Rs 7.06 lakh for the construction of an AC waiting hall for Homi Bhabha Cancer Hospital and Research Centre, Aganampudi under bank’s Corporate Social Responsibility initiative. Bank’s DGM A K Pandit was also present.
