SBI Vij garners Rs 500-crore deposits

The Vijayawada module of State Bank of India (SBI), covering 187 branches in Krishna, Guntur and West Godavari districts, collected deposits worth Rs 500 crore and advanced loans worth Rs 1,100 crore in 2006-07, taking cumulative deposits to Rs 3,256 crore and cumulative advances to Rs 4,679 crore.

KS Subrahmanian, deputy general manager, said the bank targeted rice mills as thrust area during the year and advanced Rs 133.36 crore to 674 rice mills in the module.

A major chunk of Rs 235 crore was loaned to 5,620 applicants under housing. Besides, Rs 137.57 crore was given to 28 spinning mills for modernisation in Guntur district.

The bank issued Viswa Yatra cards, a substitute for currency notes and traveller's cheques, to 305 customers. The card helps customers draw money from any ATM all over the world.

He said 62,157 farmers were given crop loans worth Rs 257.98 crore under kisan credit cards. Term loans worth Rs 74 crore were issued to 3,564 farmers under kisan gold cards. Farmers were also given Rs 9.99 crore finance to purchase 277 tractors.