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This is an archive article published on February 6, 2011
SBI aiming for 4.75 lakh cr rural business by March
State Bank of India has set a target to achieve rural business worth Rs 4.75 lakh crore by end-March,2011,a top official of the bank said.
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State Bank of India has set a target to achieve rural business worth Rs 4.75 lakh crore by end-March,2011,a top official of the bank said here today.
We are targeting rural deposits of Rs 3 lakh crore and rural advances of Rs 1.75 lakh crore by the end of March,2011, SBI Deputy Managing Director (Rural Business) R Venakatachalan said.
At present,SBIs rural deposits stand at Rs 2.89 lakh crore and rural advances at Rs 1.60 lakh crore,he said.
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Venkatachalan said 36 per cent of SBIs total deposits were from rural areas and 32 per cent of total advances went to villages.
Talking about micro finance institutions (MFI),he said the bank was extending credit to these lenders all across the country,except in Andhra Pradesh.
We are carefully watching the cash flow of the MFIs in Andhra Pradesh, he said.
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