NOTE: SBINEWS DOES NOT PERMIT CIRCULATION OF ATTACHMENTS. ATTACHMENTS, IF ANY, CIRCULATED WILL BE ONLY BECAUSE OF VIRUSES. PLEASE,THEREFORE, IGNORE ATTACHMENTS IF ANY IN SBINEWS MESSAGES ************************************************************************ SBI to set up CPU in head offices (Sify.com Website) Saturday, 29 May , 2004, 16:05 State Bank of India (SBI) would shortly set up Central Processing Units (CPUs) in all its local head offices for sanctioning loans above Rs 2 crores. "The CPUs will have to clear the decision on sanctioning of loans within 30 days of receipt of the proposal," SBI Chairman A K Purwar said here today during a business meeting organised by the Bharat Chamber of Commerce. He hoped that the CPUs would expedite the system of processing, which has improved in the recent times in the bank. The bank, he said, would also notify its decision regarding the Indian Bank Association (IBA) proposal on loan restructuring in the tea industry to the local head offices by Monday. He also assured that the bank would carry on a review of the present loan portfolio of the tea industry, showing signs of revival, and restructure the assets if required. SBI, he said, has already transferred Rs 12,000 crore of sticky assets to the asset restructuring company (ARC) in which it is a promoter and hoped that they would be able to dispose of the assets in due course. Commenting on the current interest rate scenario, he hoped that the interest rates would remain stable in the near term despite the fact that global interest rates were hardening. He said the bank is focussing on retail banking, which has contributed to the bottomline. "We are focussing on providing loans to the self-help groups, agriculture and small and medium sectors for growth," he said. He said apart from this the bank, having a exposure of Rs 28,000 crore in the infrastructure sector, would be focussing on growth in the portfolio in the sector. "About 1,000 trade finance cells will be set up to contribute to development of trade in the area in which the branches were located," he said adding that around 2,000 agri finance cells would also be set up for speedy financing of agriculturists. He said special projects in foundry, iron casting, auto and rice mills in the state and other parts of the country were also undertaken by the bank for growth of the sectors. ===== From: R.S.Pai Web Address: http://rspai.tripod.com __________________________________ Do you Yahoo!? Friends. Fun. Try the all-new Yahoo! Messenger. http://messenger.yahoo.com/ *************************************************************************** Mailing list (sbinews@xxxxxxxxxxxxx) related information: News/articles about SBI and Banking related matters published in the print media, Internet etc will be circulated through this Mailing List. The messages in this list will help in improving awareness of SBI and its activities vis-a-vis the happenings in the Banking industry. This should be of help to all staff members of SBI, particularly those who are preparing for promotional written tests/interviews/group discussions. Subscription to this Mailing List is simple and FREE. Please check the procedure below. Please share this information with other colleagues/branches that could be interested in subscribing to this Mailing List. The messages circulated here should not be deemed to have the official endorsement of the SBI or any of its employees. The correct factual position may be ascertained from official sources. To join this mailing list, just send an email to sbinews-request@xxxxxxxxxxxxx with the word 'subscribe' without the quotes in the subject of the email message. To leave this mailing list, just send an email to sbinews-request@xxxxxxxxxxxxx with the word 'unsubscribe' without the quotes in the subject of the email message. Archives (old messages) are available for viewing at: //www.freelists.org/archives/sbinews Click on the month-year at the lower left corner to view messages posted during that month. This is an announcements/newsletter type mailing list i.e. only the Moderator/s can post messages to the list. This mailing list is maintained and moderated by Sri. R.S.Pai, currently working as Chief Manager(IT-Internet Banking), SBI, Corporate Centre, Mumbai. Visit http://rspai.tripod.com for some useful Banking, Reference and Utilities Links