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SBI to up rural presence through facilitators
Archana Mohan / Mumbai/ Ahmedabad October 20, 2007
The State Bank of India (SBI), which has just launched two new products, the SBI Reverse Mortgage Loan and the SBI Home Cash in Gujarat is now looking to further consolidate its presence in rural areas through the business facilitator and business correspondent model which enables greater financial inclusion and outreach to Gujarat by the end of the year.
 
Under the guidelines of the RBI, banks are permitted the use of services of non-governmental organisations/self-help groups (NGOs/ SHGs), micro finance institutions and other civil society organisations as intermediaries in providing financial and banking services through the use of business facilitator and correspondent models.
 
A business facilitator can identify borrowers, collection and preliminary processing of loan applications, marketing products, follow-up for recovery among other jobs whereas a business correspondent can undertake activities like disbursal of small value credit, recovery of principal/collection of interest, collection of small value deposits among others.
 
Under the business facilitator model, SBI has already signed a Memorandum of Understanding (MoU) with India Post to act as a facilitator for 35 post offices in a pilot project at Surendranagar, Anand and Bharuch districts in Gujarat.
 
It has also signed up with the Gujarat Agro Industries Corporation (GAIC) to market the bank’s products in 500 outlets of the 1,200 outlets in the state. Further, the SBI is looking at milk unions as facilitators.
 
For the banking correspondent model, the bank is presently undertaking a pilot project called SBI Tiny Technology where the correspondent can use his/her cellphone to record transactions on a central server in Mumbai.
 
The project is being piloted at Arunachal Pradesh and Uttar Pradesh and is likely to be brought to Gujarat by the end of the year. Under the model, SBI also plans to target fair price shops in the state which are currently in the process of being upgraded to village malls.
 
SBI is looking to expand aggressively in Gujarat. H C Pattnaik, Chief General Manager, SBI said the bank proposes to open around 115 new branches and outlets at shopping malls and integrated townships over the next 12 months.
 
Also, during the present financial year, the State Bank of Saurashtra (SBS) with its 460 branches and a total business of over Rs 28,000 crore is expected to be merged with the SBI.
 
Under the SBI Reverse Mortgage Loan, allowing senior citizens to mortgage their residential property, the minimum amount of loan available is Rs 3 lakh and maximum of Rs 1 crore where the fixed interest rate is 10.50 per cent with a reset clause every five years.
 
SBI Home Cash is a product to meet any personal fund requirements. The minimum limit is of Rs 25,000 and the maximum is Rs 10 lakh to the extent of difference between 75 per cent of the market value of the house and outstanding in home loan.
 
As of June this year, deposits of SBI in Gujarat registered a growth of 25.20 per cent as against the All Scheduled Commercial Banks’ (ASCB) growth of 16.77 per cent.

 
 
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   Discussion Board / User Comments    
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RAKESHGAIROLA November 04 , 2009 ,16:52 IST
Sir, SBI management made their plans for good business,but new concept of B\F,B\C is not accepted by banks employees its own, they are not ready to help B\F,B\C. Some where they are creating and making problems to B\F\C,Managemant first convey plans to employees otherwise next conflicts will be ready very soon.SBI is using field of NGO,s cheaply & tactfully without paying anything. THANKS RAKESH GAIROLA HIMALAYA VIKAS SANSTHAN DEHRADUN,9412988172
Reply
Kiran ahir November 04 , 2009 ,09:59 IST
Dear: sbi bank discussion bord maneger sub: business facilitator appliction sir: mai abhi car finance ka kam karta hu par SBI Bank ne naya product lonch kiya he jiska name BUSINESS FACILITATOR he to sir mai business facilitator banna chahta hu
Reply
alok October 29 , 2009 ,12:42 IST
Dear sir, I've sent my documents,for working as a service facilitator,in Narsinghpur,Distt.Madhya Pradesh.but till dat i've not intimated by u.So please kindly intimated to me. Thanking You
Reply
akshay October 03 , 2009 ,01:16 IST
i m an tax consultant & also project consultant wanna be an facilitatior for amednagar(maharashtra) district my contact no is 9822355554...
Reply
D.Geetha September 14 , 2009 ,10:54 IST
Sir, I worked in a nationalised bank in Tamilnadu for 22 years and retired under special voluntary retirement scheme. May I know whether I can have the chance of working as a facilitator in your bank?
Reply
avsar_kgn September 08 , 2009 ,18:30 IST
sir we are from an NGO Avsar Gram Srujan Sansthan, Khargone (M.P.)we want to work with you as a business facilitator. we have 5 years experience in Finance & Insurance sector. you may caontact us on following no. 9926052324,9424032133,9977009889.
Reply
jayantgore September 08 , 2009 ,15:48 IST
Please inform us about your fasilitator system for rural & agri finance. Now I am working witn icicibank as a cr. frenchise for agri loan. I want to join with most trusted & Indias largest brand in banking For the area : Sangola, dist - Solapur, Maharashtra. Pls. contact us on email or cell no 9767477455
Reply
indu August 20 , 2009 ,18:31 IST
sir i am b.a., working as accountant in the office of an advocate practicing income tax (7year experience and filing itr for self and others)and enjoy very good reputation in the locality. my brother in law is an employee of sbi. pliz specify the eligibility and restriction for the business facilitator in sbi
Reply
MK August 20 , 2009 ,18:06 IST
sir, i am exseviceman, senior nco, mba, llb and enjoy a good reputation in the locality and nearby. my broter is also an employee in sbi but he is not posted in the same locality. so plz guide me about my chance and eligibility to join as BF in sbi. from mk garg advocate phone 0124 2363895, 2262495 mob 9416120747
Reply
  Reply by ALKA:August 20 , 2009 ,18:47 IST
IT SEEMED AS DISCREATION OF THE OFFICER INCHARGE AND YOUR RELATION WITH THE HIGHER OFFICIAL, OTHERWISE NO ONE CAN BE SUCCESSFUL WITHOUT PLEASING YOUR THESE NEW BOSSES
vivekanandmakode July 20 , 2009 ,20:09 IST
sir i am interested in facilitator . i have 7 year exeperience in finance and insurance sector and about my education and state bank of india in umarkhed 5 year exeperience (delivijes) i have completed my mba about my family my father is a businessman .so plz suggest me what i do to join in sbi facilitator Thanks and Regards vivekanand makode 0942528500 Reply
Reply
IVBMVKendra July 19 , 2009 ,20:33 IST
Dear Sir, Our Kendra (NGO) is quit intersted in Fasilitator at REWA-SIDHI-SINGRAULI and SATNA Region. So We want more information about this. For that you can contact us at: isha_vbmvkendra@gmail.com Thanks
Reply
venkat June 24 , 2009 ,21:26 IST
sir, i'm a btech student. Im trying to start a cement mosaic tiles industry. i live in a town which is about 50 kms from hyderabad and the place for the industry is also near my town. i need a loan to start the industry. i have the estimation details. could you give me the details for the loan?
Reply
muneeruddin May 14 , 2009 ,17:15 IST
i was appointed bf by WARANGAL, ANDHRA PRADESH Regional Busiess Office in Feb 2008. We the bfs are unhappy with the neglect since then. Plan to withdraw. SHG account opening undertaken is refused even Rs.10 payment.Forget about positive list even negative list of what we should not do is not informed, for them to have sadistic pleasure of humiliation of bfs and rejecting claims without any reasonable comment.Ignorance appears to be bliss. I have resigned in disgust.
Reply
  Reply by MK:August 20 , 2009 ,19:06 IST
pliz share ur all experience and reson of all your suffering. is there any remedy exist? cdontcat 0124 2363895
vivekagarwal May 10 , 2009 ,19:29 IST
sir i am interested in facilitator . i have 7 year exeperience in finance and insurance sector and about my education i have completed my mba about my family my father is a businessman .so plz suggest me what i do to join in sbi facilitator Thanks and Regards vivek agarwal 09799490569
Reply
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