[sbinews] SBI to set up CPU in head offices (Sify.com)

  • From: "Rajendra S. Pai" <rspai9@xxxxxxxxx>
  • To: sbinews@xxxxxxxxxxxxx
  • Date: Sun, 30 May 2004 20:29:50 -0700 (PDT)

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. 

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