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 ************************************************************************ State Bank To Open Centralised Processing Cells In All 14 Circles (Financial Express) SUMANTA RAY CHAUDHURI KOLKATA, JAN 27: The country's biggest public sector commercial bank, State Bank of India (SBI), has decided to open centralised processing cells (CPCs) in all its 14 circles soon, to bring down the average sanction time for corporate loans. The CPCs will continue to exist in addition to the two circle credit committees in each circle. A top SBI official told FE here on Tuesday that the bank has already opened three CPCs, one each in Mumbai, Delhi and Chennai. "The fourth one will be opened in Kolkata on January 31, 2004," he said. He added that such CPCs will be opened simultaneously in the headquarters of all of SBI's 14 circles. It is learnt that each CPC will work under the direct supervision of the general manager (commercial) and will have two separate credit evaluation teams. "Each team will have three officers, out of which two will be in the rank of chief managers and one in the rank of assistant general manager," the official said, adding only SBI officers with long standing experience in corporate credit evaluation and sanction will be deputed for them. He said that certain select commercial branches in each circle will forward the loan proposal of Rs 1 crore and above directly to the CPCs. "The CPCs will evaluate the credibility of the loan proposals and sanction them on the spot depending on the nature of the loan. In extreme cases only, CPC will forward the loan proposal to the circle credit committees concerned," he said. The SBI official said that according to the current norms, the average time for the sanction of corporate loan proposals of Rs 1 crore and above takes around 30 days. "With the CPCs coming into operation, the time will be reduced to somewhat between three and 10 days," he said. He further said that apart from streamlining the process of the credit sanction, the bank has also outlined an ambitious plan to convert all its 9,000 plus branches into single window branches by March 31, 2004. Once, the single window system is introduced, multiple transactions can be done from a single counter and this would help the bank in servicing the customers better, he said. This apart, he said, SBI has chalked out an ambitious plan to market its deposit and loan products to the security and police departments in different states. "The Bengal Circle of the SBI is currently at the final stages of negotiations with the West Bengal government to take over the salary of the police personnel of the state. Once the agreement is finalised we will set up ATMs at important police offices to suit the convenience of the staff there," he said. He added that SBI is pushing its home loan products to the police departments of a number of states and the response from many of them are quite positive. ---------------------------------------------------------------------- Email From ""Rajendra S. Pai" <rajendra.pai@xxxxxxxxx>" was security checked by 3.90 version of CxProtect(tm) On: mail_store at: 09:19:29, 28-Jan-2004 Wednesday ---------------------------------------------------------------------- *************************************************************************** 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. 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