4-Day Repo Auction Announced

The Hyderabad circle of the State Bank of India (SBI) has shown a decline in the growth rate between the last two years, both in advances and deposits. The chief general manager V K Mehrotra said advances grew by a mere Rs 583 crore in 1996-97 as against Rs 800 crore in 1995-96 while deposits grew by Rs 516 crore last year against Rs 577 crore the previous year.

The Reserve Bank of India governor, C Rangarajan, yesterday urged banks to go in for total computerisation, which would lead to efficient operations, better consumer satisfaction and lower transactioncosts. Inaugurating total automated services at Karur Vysya Banks 100th branch in Chennai, he said computerisation was not an end in itself, but a means aimed at better service and efficiency. The RBI governor said networking was the key to speeding up such operations.