SBI plans to set up second offshore unit in Kerala Sanu George (IANS) Thiruvananthapuram, October 22 The State Bank of India (SBI) plans to open a second Offshore Banking Unit (OBU) in Kerala's commercial capital Kochi. SBI chairman AK Purwar told a news conference on Wednesday: "As a result of this operation, exporters and importers will be able to benefit hugely. This is meant for foreign exchange business operations. "Everything is ready and it will be opened any time." Currently the lone OBU of SBI is located in Mumbai. After Kochi, OBUs will open at Kandla and Surat as well. "The Kochi OBU will be located in the Cochin Export Processing Zone where we already have a branch," he said. He said SBI was doing "extremely well" in Kerala and the bank planned to start several new schemes to enhance the credit deposit ratio. SBI, along with its associate State Bank of Travancore, has a lion's share of the banking business in Kerala. SBI has 231 branches with a total deposit of Rs 65 billion.