It offers a special deposit account for women and girls
Visakhapatnam Zone of State Bank of Hyderabad has achieved a turnover of Rs.8,500 crore with deposits standing at Rs.5,000 crore during the first half of current financial year.
After inauguration of all-women branch of SBH, the first in Andhra Pradesh, at the LIC building here, bank’s Deputy General Manager K. Ramesh Babu said the zone comprising Visakhapatnam, Vizianagaram, Srikakulam, East and West Godavari districts had 260 women employees constituting 23 per cent of workforce. The new branch, opened by chairperson and managing director of Vaibhav Empire Private Ltd G.B.M. Ratna Kumari, is the 44 branch in the region, 157 in the zone and 1587 in the country. This was among four all-woman branches opened on the occasion of 144 birthday of Mahatma Gandhi at Salem, Bangalore and Pune. GVMC Additional Commissioner M. Janaki inaugurated an ATM. Mr. Ramesh Babu told reporters that the bank had financed over 700 housing and 500 car loans during first half of the year. The financial year is being observed as Year of MSME. The new branch, open to both male and female customers, offers a special deposit account for women and girls namely SBH Ujwala, which provides free personal accident insurance coverage up to Rs.4 lakh and loans with a concession in processing charges and interest rate.
SBH Assistant General Manager Madhuri and all-woman branch manager Ch. Shyamala Devi were present.
On the occasion of Gandhi Jayanti and inauguration of four all-woman branches in the country, SBH donated Rs.7.87 lakh towards the cost of uniforms, books, shoes and other education needs of the students studying at SBH GVMC School at Neelammavepachettu Road. The school is adopted by the bank for the past four years.
As part of corporate social responsibility, the bank is sponsoring medical expenses of students of Lebenshilfe, an institute taking care of mentally challenged children near Appughar. SBH donated a computer to CHILD, which runs a home for orphan children at New Paradesipalem. The bank also sponsored the stitching charges of uniforms for the students of visually challenged girls at a residential school at Yendada.