The Hindu : Business : Plea against shifting SBI branch

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Saturday, Nov 10, 2007
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Plea against shifting SBI branch

Special Correspondent

KOCHI: The Mattancherry-based Indian Chamber of Commerce and Industry has urged the State Bank of India (SBI) to desist from the move to shift the SBI branch to Thoppumpady.

In a statement, the Chamber said the Kochi branch of SBI was the first banking institution in Kerala. It was started as a branch of the British East India Company’s Bank of Madras in 1862. It later became the Cochin Branch of the Imperial Bank of India in 1935 and the Branch of State Bank of India after Independence. Thus, the Cochin Branch of SBI has played a predominant role in the process of development of this commercial centre of historical importance over a period of 145 years. The SBI branch is a blessing to the business community and the public of this area, especially as it looks after the Treasury business of West Kochi.

The statement said it was a matter of regret that for sometime there has been a calculated move to underestimate the prominence and historical importance of this premier Branch of SBI.

The Clearing House run by this Branch was shifted to Ernakulam against the wishes of the people. The old ledgers, and swords used by guards were taken to the SBI Museum at Kolkata.

It said there was a move at the official level to shift this profit-making branch to Thoppumpady. If this reported move materialised, it would cause enormous difficulties to the business community, service providers and the public of Mattancherry/Jew Town and Fort Cochin area, the statement added.

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